Teacher Retirement System of Texas Grows Holdings in The Coca-Cola Co (NYSE:KO)

Teacher Retirement System of Texas lifted its holdings in shares of The Coca-Cola Co (NYSE:KO) by 123.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,552,665 shares of the company’s stock after acquiring an additional 858,180 shares during the quarter. The Coca-Cola comprises approximately 0.7% of Teacher Retirement System of Texas’ holdings, making the stock its 18th biggest holding. Teacher Retirement System of Texas’ holdings in The Coca-Cola were worth $79,062,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC grew its position in The Coca-Cola by 22.2% in the fourth quarter. FMR LLC now owns 61,139,629 shares of the company’s stock worth $2,894,961,000 after acquiring an additional 11,126,961 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of The Coca-Cola by 10.8% during the fourth quarter. Geode Capital Management LLC now owns 46,561,672 shares of the company’s stock valued at $2,200,726,000 after acquiring an additional 4,528,987 shares during the period. Norges Bank acquired a new position in shares of The Coca-Cola during the 4th quarter worth about $1,717,527,000. Legal & General Group Plc lifted its stake in The Coca-Cola by 7.0% in the 4th quarter. Legal & General Group Plc now owns 19,459,018 shares of the company’s stock valued at $921,367,000 after acquiring an additional 1,271,906 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in The Coca-Cola by 4.2% in the 1st quarter. Clearbridge Investments LLC now owns 16,562,369 shares of the company’s stock valued at $776,113,000 after buying an additional 660,240 shares in the last quarter. 66.84% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have issued reports on KO shares. Morgan Stanley reiterated a “buy” rating and issued a $60.00 price target on shares of The Coca-Cola in a research note on Wednesday, July 31st. Bank of America reissued a “buy” rating and set a $60.00 target price (up from $55.00) on shares of The Coca-Cola in a report on Wednesday, July 24th. Atlantic Securities assumed coverage on shares of The Coca-Cola in a research note on Monday, July 29th. They set an “overweight” rating and a $62.00 price objective for the company. Credit Suisse Group raised their target price on The Coca-Cola from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, Barclays set a $54.00 price objective on The Coca-Cola and gave the company a “buy” rating in a report on Thursday, May 16th. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The Coca-Cola has an average rating of “Buy” and an average target price of $54.10.

KO stock traded up $0.12 on Wednesday, reaching $54.00. 213,015 shares of the company traded hands, compared to its average volume of 14,918,661. The company has a market cap of $232.66 billion, a P/E ratio of 25.98, a price-to-earnings-growth ratio of 3.78 and a beta of 0.48. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.83 and a quick ratio of 0.71. The firm has a fifty day simple moving average of $52.81 and a 200-day simple moving average of $49.22. The Coca-Cola Co has a one year low of $44.25 and a one year high of $54.82.

The Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $10 billion for the quarter, compared to the consensus estimate of $9.86 billion. The Coca-Cola had a return on equity of 45.67% and a net margin of 21.11%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.61 earnings per share. On average, sell-side analysts forecast that The Coca-Cola Co will post 2.1 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.96%. The Coca-Cola’s dividend payout ratio (DPR) is 76.92%.

In other The Coca-Cola news, SVP Beatriz R. Perez sold 14,000 shares of The Coca-Cola stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $53.40, for a total value of $747,600.00. Following the completion of the sale, the senior vice president now directly owns 108,457 shares in the company, valued at $5,791,603.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Francisco Crespo sold 125,948 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $50.00, for a total transaction of $6,297,400.00. Following the transaction, the insider now directly owns 186,631 shares in the company, valued at approximately $9,331,550. The disclosure for this sale can be found here. Insiders sold 488,761 shares of company stock worth $25,417,705 in the last ninety days. Insiders own 1.33% of the company’s stock.

The Coca-Cola Profile

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant–based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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