CocaCola Company (The) (NYSE:KO) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its position in CocaCola Company (The) (NYSE:KO) by 10.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,500,278 shares of the company’s stock after selling 181,697 shares during the quarter. Teacher Retirement System of Texas’ holdings in CocaCola were worth $107,450,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new position in CocaCola in the first quarter valued at about $25,000. Crowley Wealth Management Inc. acquired a new position in CocaCola during the 4th quarter worth approximately $27,000. Garde Capital Inc. purchased a new position in CocaCola in the 1st quarter worth approximately $30,000. Mainstream Capital Management LLC acquired a new stake in CocaCola in the fourth quarter valued at approximately $31,000. Finally, Mizuho Securities Co. Ltd. raised its stake in shares of CocaCola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock valued at $33,000 after purchasing an additional 360 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO James Quincey sold 266,403 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the transaction, the chief executive officer directly owned 275,946 shares in the company, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Beatriz R. Perez sold 60,326 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the sale, the executive vice president owned 187,716 shares in the company, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 415,387 shares of company stock valued at $29,923,985 in the last quarter. Company insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on KO shares. Cfra Research raised shares of CocaCola to a “strong-buy” rating in a report on Tuesday, April 15th. Barclays restated an “overweight” rating on shares of CocaCola in a research note on Thursday, March 27th. Royal Bank Of Canada boosted their price target on CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. UBS Group raised their price objective on CocaCola from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. upped their target price on CocaCola from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $76.27.

CocaCola Stock Performance

Shares of KO stock opened at $70.95 on Thursday. The company has a market cap of $305.39 billion, a P/E ratio of 28.38, a PEG ratio of 3.76 and a beta of 0.45. The business has a 50 day moving average of $71.12 and a two-hundred day moving average of $68.44. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57.

CocaCola (NYSE:KO) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The business had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. The business’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were given a dividend of $0.51 per share. The ex-dividend date was Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.88%. CocaCola’s dividend payout ratio is currently 81.60%.

CocaCola Profile

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