Teacher Retirement System of Texas Increases Stock Position in The Coca-Cola Company (NYSE:KO)

Teacher Retirement System of Texas boosted its stake in shares of The Coca-Cola Company (NYSE:KOGet Rating) by 11.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,867,239 shares of the company’s stock after buying an additional 196,014 shares during the quarter. Coca-Cola accounts for about 0.6% of Teacher Retirement System of Texas’ holdings, making the stock its 26th biggest 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 (SEC).

Several other hedge funds also recently bought and sold shares of the stock. Berkshire Bank lifted its holdings in Coca-Cola by 2.2% in the 1st quarter. Berkshire Bank now owns 7,067 shares of the company’s stock valued at $438,000 after purchasing an additional 155 shares in the last quarter. Security Financial Services INC. lifted its holdings in shares of Coca-Cola by 3.5% during the 1st quarter. Security Financial Services INC. now owns 4,710 shares of the company’s stock worth $292,000 after acquiring an additional 160 shares during the period. CWA Asset Management Group LLC lifted its holdings in shares of Coca-Cola by 2.4% during the 1st quarter. CWA Asset Management Group LLC now owns 6,841 shares of the company’s stock worth $424,000 after acquiring an additional 160 shares during the period. Clear Creek Financial Management LLC lifted its holdings in shares of Coca-Cola by 1.5% during the 1st quarter. Clear Creek Financial Management LLC now owns 11,012 shares of the company’s stock worth $683,000 after acquiring an additional 162 shares during the period. Finally, Cohen Lawrence B lifted its holdings in shares of Coca-Cola by 0.3% during the 4th quarter. Cohen Lawrence B now owns 51,742 shares of the company’s stock worth $3,064,000 after acquiring an additional 163 shares during the period. Hedge funds and other institutional investors own 68.51% of the company’s stock.

Coca-Cola Stock Down 0.5 %

KO stock opened at $63.38 on Friday. The Coca-Cola Company has a twelve month low of $52.28 and a twelve month high of $67.20. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $274.10 billion, a P/E ratio of 28.68, a PEG ratio of 4.03 and a beta of 0.53. The firm has a 50 day simple moving average of $62.49 and a 200-day simple moving average of $62.40.

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

Coca-Cola Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KO. StockNews.com upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating in a report on Saturday. Citigroup increased their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock a “neutral” rating in a report on Tuesday, April 26th. DZ Bank lowered shares of Coca-Cola from a “buy” rating to a “hold” rating and set a $69.00 price objective on the stock. in a report on Thursday, April 28th. Cowen raised their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the company a “market perform” rating in a report on Tuesday, April 26th. Finally, JPMorgan Chase & Co. set a $70.00 price target on shares of Coca-Cola in a report on Tuesday, July 26th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $69.35.

Insiders Place Their Bets

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

About Coca-Cola

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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.

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

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