New York State Common Retirement Fund Sells 319,320 Shares of The Coca-Cola Company (NYSE:KO)

New York State Common Retirement Fund decreased its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 5.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,394,013 shares of the company's stock after selling 319,320 shares during the quarter. Coca-Cola makes up 0.5% of New York State Common Retirement Fund's portfolio, making the stock its 27th biggest holding. New York State Common Retirement Fund owned 0.13% of Coca-Cola worth $387,614,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Creative Financial Designs Inc. ADV increased its position in Coca-Cola by 6.7% in the third quarter. Creative Financial Designs Inc. ADV now owns 20,727 shares of the company's stock worth $1,489,000 after buying an additional 1,295 shares in the last quarter. Focus Financial Network Inc. increased its position in Coca-Cola by 4.5% in the third quarter. Focus Financial Network Inc. now owns 27,380 shares of the company's stock worth $1,981,000 after buying an additional 1,189 shares in the last quarter. Principal Securities Inc. increased its position in Coca-Cola by 8.3% in the third quarter. Principal Securities Inc. now owns 102,005 shares of the company's stock worth $7,330,000 after buying an additional 7,791 shares in the last quarter. Stephens Inc. AR increased its position in Coca-Cola by 0.9% in the third quarter. Stephens Inc. AR now owns 409,125 shares of the company's stock worth $29,400,000 after buying an additional 3,793 shares in the last quarter. Finally, Pacific Wealth Strategies Group Inc. grew its position in shares of Coca-Cola by 1.7% during the third quarter. Pacific Wealth Strategies Group Inc. now owns 22,028 shares of the company's stock worth $1,583,000 after purchasing an additional 372 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Coca-Cola Trading Down 0.5 %

Shares of NYSE:KO traded down $0.31 during trading on Friday, hitting $65.00. The company had a trading volume of 12,159,255 shares, compared to its average volume of 13,255,312. The stock has a market cap of $280.01 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 4.00 and a beta of 0.60. The Coca-Cola Company has a one year low of $56.06 and a one year high of $73.53. The company has a fifty day simple moving average of $70.29 and a two-hundred day simple moving average of $66.26. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.03. The business had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company's revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the company earned $0.74 EPS. As a group, equities analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Friday, November 29th. Coca-Cola's dividend payout ratio is currently 80.17%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. TD Cowen increased their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a "hold" rating in a research report on Thursday, July 25th. Barclays cut their target price on Coca-Cola from $74.00 to $73.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. StockNews.com cut Coca-Cola from a "buy" rating to a "hold" rating in a research report on Friday, July 19th. Citigroup increased their target price on Coca-Cola from $72.00 to $75.00 and gave the stock a "buy" rating in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Coca-Cola from $64.00 to $65.00 and gave the stock a "hold" rating in a research report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Coca-Cola has an average rating of "Moderate Buy" and a consensus target price of $71.80.

Insider Buying and Selling

In related news, CEO James Quincey sold 102,533 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares of the company's stock, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the firm's stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the sale, the chief executive officer now directly owns 442,546 shares of the company's stock, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 261,870 shares of company stock valued at $18,256,369. Insiders own 0.97% of the company's stock.

Coca-Cola 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.