Teachers Insurance & Annuity Association of America Buys Shares of 18,276 The Coca-Cola Company (NYSE:KO)

Teachers Insurance & Annuity Association of America purchased a new position in shares of The Coca-Cola Company (NYSE:KO) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 18,276 shares of the company’s stock, valued at approximately $1,313,000. Coca-Cola makes up about 2.0% of Teachers Insurance & Annuity Association of America’s investment portfolio, making the stock its 12th largest position.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. New Millennium Group LLC acquired a new stake in Coca-Cola during the 2nd quarter worth about $26,000. Quarry LP purchased a new position in Coca-Cola during the 2nd quarter worth approximately $27,000. Hara Capital LLC acquired a new stake in Coca-Cola during the 3rd quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola in the third quarter worth $36,000. Finally, Mount Lucas Management LP purchased a new position in shares of Coca-Cola during the second quarter worth $38,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Trading Down 0.2 %

KO stock traded down $0.12 during midday trading on Thursday, hitting $64.43. 13,263,403 shares of the company’s stock were exchanged, compared to its average volume of 13,563,657. The Coca-Cola Company has a 1-year low of $57.47 and a 1-year high of $73.53. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $277.55 billion, a PE ratio of 26.62, a P/E/G ratio of 3.91 and a beta of 0.61. The business has a 50-day simple moving average of $67.34 and a two-hundred day simple moving average of $66.57.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same period last year, the company earned $0.74 EPS. The company’s quarterly revenue was down .8% on a year-over-year basis. On average, sell-side analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.01%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Analyst Ratings Changes

KO has been the topic of several analyst reports. Wells Fargo & Company increased their price target on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Barclays dropped their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, Morgan Stanley reduced their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.36.

Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.