New Mexico Educational Retirement Board Cuts Stock Position in The Coca-Cola Company (NYSE:KO)

New Mexico Educational Retirement Board lessened its stake in The Coca-Cola Company (NYSE:KO) by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 184,920 shares of the company’s stock after selling 4,700 shares during the period. Coca-Cola accounts for approximately 0.4% of New Mexico Educational Retirement Board’s investment portfolio, making the stock its 29th largest holding. New Mexico Educational Retirement Board’s holdings in Coca-Cola were worth $11,513,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after acquiring an additional 11,206,995 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Coca-Cola by 3.3% in the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after acquiring an additional 2,966,964 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Coca-Cola by 14.5% in the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after acquiring an additional 4,013,996 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Coca-Cola by 6.1% in the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock worth $1,990,407,000 after acquiring an additional 1,609,565 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in Coca-Cola by 2.2% in the fourth quarter. Vontobel Holding Ltd. now owns 16,021,195 shares of the company’s stock worth $997,480,000 after acquiring an additional 351,462 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on KO. UBS Group lifted their target price on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday. Piper Sandler decreased their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Barclays boosted their price target on Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $73.82.

Coca-Cola Stock Down 0.9 %

KO opened at $68.85 on Friday. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The business has a 50-day moving average of $62.90 and a two-hundred day moving average of $66.36. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The stock has a market capitalization of $296.59 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. On average, 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.