The New York State Common Retirement Fund (NYSCRF) reduced its holdings in The Coca-Cola Company by 7.1% during the third quarter. The fund sold 356,833 shares. NYSCRF now holds 4.68 million shares, valued at $310.4 million. AustralianSuper Pty Ltd also trimmed its position by 18.8% in the same quarter.
Insider activity coincided with the institutional selling. Over the last 90 days, company insiders sold shares worth $15.0 million. Executive Vice Presidents Nancy Quan and Manuel Arroyo executed significant sales.
Despite the sales, analysts maintain a generally positive outlook. The stock holds a consensus "Buy" rating. The average price target stands at $79.08.