New York State Teachers Retirement System Reduces Stake in The Coca-Cola Company (NYSE:KO)

New York State Teachers Retirement System cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,163,012 shares of the company’s stock after selling 163,793 shares during the period. New York State Teachers Retirement System owned about 0.07% of Coca-Cola worth $196,929,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Harvest Portfolios Group Inc. purchased a new stake in shares of Coca-Cola in the third quarter valued at approximately $18,383,000. Balentine LLC lifted its position in Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after acquiring an additional 13,685 shares during the period. Rice Partnership LLC lifted its holdings in shares of Coca-Cola by 7.1% during the fourth quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock worth $6,397,000 after purchasing an additional 6,793 shares during the period. Sheaff Brock Investment Advisors LLC lifted its holdings in shares of Coca-Cola by 104.9% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after purchasing an additional 59,503 shares during the period. Finally, Fiduciary Alliance LLC lifted its holdings in Coca-Cola by 87.7% in the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock valued at $1,132,000 after acquiring an additional 8,499 shares during the period. 70.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Piper Sandler cut their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Thursday. UBS Group increased their target price on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $69.00 price target on shares of Coca-Cola in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $73.82.

Coca-Cola Stock Up 1.1 %

Coca-Cola stock opened at $69.48 on Friday. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The stock has a 50 day moving average of $62.76 and a two-hundred day moving average of $66.33. 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 $299.28 billion, a price-to-earnings ratio of 28.71, a PEG ratio of 3.55 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. As a group, research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

About Coca-Cola

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.