Teacher Retirement System of Texas Has $104.72 Million Position in The Coca-Cola Company (NYSE:KO)

Teacher Retirement System of Texas boosted its holdings in The Coca-Cola Company (NYSE:KO) by 2.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,681,975 shares of the company’s stock after buying an additional 44,630 shares during the period. Teacher Retirement System of Texas’ holdings in Coca-Cola were worth $104,720,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Mainstream Capital Management LLC acquired a new stake in Coca-Cola in the fourth quarter worth $31,000. Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola in the fourth quarter worth $37,000. MilWealth Group LLC acquired a new stake in Coca-Cola in the fourth quarter worth $40,000. Sugar Maple Asset Management LLC acquired a new stake in Coca-Cola in the fourth quarter worth $43,000. Finally, Hara Capital LLC raised its holdings in Coca-Cola by 43.7% in the fourth quarter. Hara Capital LLC now owns 691 shares of the company’s stock worth $43,000 after purchasing an additional 210 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

NYSE KO opened at $69.33 on Thursday. The firm has a 50-day moving average of $66.69 and a 200-day moving average of $66.53. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The stock has a market cap of $298.20 billion, a PE ratio of 28.07, a P/E/G ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Insider Transactions at Coca-Cola

In other Coca-Cola news, COO Henrique Braun sold 25,277 shares of Coca-Cola stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the completion of the sale, the chief operating officer now owns 52,466 shares in the company, valued at $3,749,745.02. The trade was a 32.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nikolaos Koumettis sold 54,708 shares of Coca-Cola stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the sale, the insider now owns 246,909 shares of the company’s stock, valued at $17,520,662.64. This trade represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on KO shares. JPMorgan Chase & Co. cut their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 target price on shares of Coca-Cola in a report on Thursday, February 6th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, Wells Fargo & Company increased their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $74.24.

Coca-Cola 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.