The Coca-Cola Company (NYSE:KO) Stake Raised by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its stake in The Coca-Cola Company (NYSE:KO – Get Rating) by 11.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,867,239 shares of the company’s stock after purchasing an additional 196,014 shares during the quarter. Coca-Cola makes up 0.6% of Teacher Retirement System of Texas’ investment portfolio, making the stock its 26th largest holding. Teacher Retirement System of Texas’ holdings in Coca-Cola were worth $115,769,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Mystic Asset Management Inc. purchased a new position in Coca-Cola during the 4th quarter valued at about $444,000. TRH Financial LLC grew its stake in Coca-Cola by 11.7% during the 1st quarter. TRH Financial LLC now owns 143,657 shares of the company’s stock valued at $8,907,000 after acquiring an additional 15,091 shares in the last quarter. Annex Advisory Services LLC grew its stake in Coca-Cola by 3.8% during the 1st quarter. Annex Advisory Services LLC now owns 7,448 shares of the company’s stock valued at $462,000 after acquiring an additional 273 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in Coca-Cola by 0.6% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 108,024 shares of the company’s stock valued at $6,697,000 after acquiring an additional 671 shares in the last quarter. Finally, Cornerstone Advisory LLC lifted its holdings in shares of Coca-Cola by 51.3% during the 4th quarter. Cornerstone Advisory LLC now owns 7,759 shares of the company’s stock valued at $460,000 after buying an additional 2,630 shares during the last quarter. Hedge funds and other institutional investors own 68.51% of the company’s stock.

Insider Activity

In other news, CEO James Quincey sold 32,000 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $64.09, for a total transaction of $2,050,880.00. Following the sale, the chief executive officer now directly owns 351,737 shares in the company, valued at $22,542,824.33. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Coca-Cola news, CEO James Quincey sold 32,000 shares of the company’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $64.09, for a total value of $2,050,880.00. Following the sale, the chief executive officer now directly owns 351,737 shares in the company, valued at $22,542,824.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Kathy Loveless sold 2,512 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $64.00, for a total value of $160,768.00. Following the completion of the sale, the vice president now owns 1,370 shares in the company, valued at $87,680. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KO. Deutsche Bank Aktiengesellschaft lifted their price target on Coca-Cola from $62.00 to $64.00 and gave the company a “hold” rating in a report on Tuesday, April 26th. Citigroup lifted their price target on Coca-Cola from $65.00 to $68.00 and gave the company a “neutral” rating in a report on Tuesday, April 26th. JPMorgan Chase & Co. set a $70.00 price target on Coca-Cola in a report on Tuesday, July 26th. Barclays set a $74.00 target price on Coca-Cola in a report on Wednesday, April 27th. Finally, Credit Suisse Group set a $68.00 target price on Coca-Cola in a report on Wednesday, July 20th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $69.35.

Coca-Cola Stock Down 0.5 %

Shares of KO stock opened at $63.38 on Friday. The Coca-Cola Company has a 12 month low of $52.28 and a 12 month high of $67.20. The firm has a market cap of $274.10 billion, a PE ratio of 28.68, a price-to-earnings-growth ratio of 4.03 and a beta of 0.53. The stock has a 50 day moving average of $62.49 and a 200-day moving average of $62.40. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.48.

Coca-Cola (NYSE:KO – Get Rating) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. The company had revenue of $11.30 billion during the quarter, compared to analyst estimates of $10.57 billion. Coca-Cola had a return on equity of 42.13% and a net margin of 23.16%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.68 earnings per share. On average, equities analysts predict that The Coca-Cola Company will post 2.46 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 16th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Thursday, September 15th. Coca-Cola’s dividend payout ratio is presently 79.64%.

Coca-Cola Profile

(Get Rating)

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.