Coca-Cola Stake Reduced by Public Employees Retirement System of Ohio
The Public Employees Retirement System of Ohio reduced its stake in Coca-Cola Company (KO) by selling 92,715 shares during the second quarter. The institutional investor now owns 1,467,580 shares of the company's stock after the sale, which was worth $119,270,000 at the end of the most recent quarter.
This is not an isolated move; several other hedge funds and institutional investors have also adjusted their stakes in Coca-Cola. For example, Anfield Capital Management LLC increased its holdings by 438.8% in the fourth quarter, while Evolution Wealth Management Inc. grew its position by 1,081.8% during the same period.
Coca-Cola has been a focus of analyst attention recently, with several upgrades and target price revisions issued in the past few weeks. UBS Group set a $104.00 price target on Coca-Cola and gave the stock a 'buy' rating, while HSBC lowered its rating from 'strong-buy' to 'hold'. Analysts have also been revisiting their estimates for the company's full-year 2026 earnings guidance of $3.27-$3.30 EPS.
The company has seen some positive sentiment in recent days, with Zacks upgrading Coca-Cola to Rank #2 (Buy) citing improving earnings prospects. Additionally, Market commentary suggests that investors are favoring staples such as KO amid a more defensive trading environment. However, higher bond yields may be pressuring dividend-stock valuations, which could weigh on income-oriented demand.