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

Teacher Retirement System of Texas lessened its holdings in CocaCola Company (The) (NYSE:KO - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent 13F filing 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 period. Teacher Retirement System of Texas' holdings in CocaCola were worth $107,450,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in KO. MorganRosel Wealth Management LLC bought a new position in shares of CocaCola in the 1st quarter worth $25,000. Crowley Wealth Management Inc. acquired a new stake in shares of CocaCola in the 4th quarter valued at approximately $27,000. Garde Capital Inc. acquired a new position in shares of CocaCola during the 1st quarter worth about $30,000. Mainstream Capital Management LLC acquired a new stake in shares of CocaCola in the fourth quarter valued at approximately $31,000. Finally, Mizuho Securities Co. Ltd. boosted its position in CocaCola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after purchasing an additional 360 shares during the period. Institutional investors own 70.26% of the company's stock.

CocaCola Stock Performance

Shares of KO traded up $0.28 on Thursday, reaching $71.19. The company's stock had a trading volume of 9,440,457 shares, compared to its average volume of 16,160,583. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The stock's 50 day simple moving average is $71.12 and its two-hundred day simple moving average is $68.44. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89. The stock has a market capitalization of $306.42 billion, a P/E ratio of 28.48, a PEG ratio of 3.72 and a beta of 0.45.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.02. The business had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The firm's revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.72 EPS. Research analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The firm also recently announced 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 of this dividend was Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.87%. CocaCola's dividend payout ratio (DPR) is 81.60%.

Insider Activity at CocaCola

In other news, CFO John Murphy sold 88,658 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the transaction, the chief financial officer directly owned 205,511 shares of the company's stock, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Quincey sold 266,403 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the transaction, the chief executive officer directly owned 275,946 shares of the company's stock, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 415,387 shares of company stock worth $29,923,985 in the last 90 days. 0.97% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on KO. UBS Group upped their target price on CocaCola from $84.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Royal Bank Of Canada upped their price target on shares of CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Barclays reiterated an "overweight" rating on shares of CocaCola in a report on Thursday, March 27th. Morgan Stanley reissued an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. Finally, JPMorgan Chase & Co. raised their price target on shares of CocaCola from $74.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $76.27.

CocaCola Company 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.