Teacher Retirement System of Texas Boosts Stock Holdings in CocaCola Company (The) $KO

Teacher Retirement System of Texas increased its position in CocaCola Company (The) (NYSE:KO) by 17.7% in the third quarter, Holdings Channel.com reports. The fund owned 1,504,597 shares of the company’s stock after purchasing an additional 226,714 shares during the period. Teacher Retirement System of Texas’ holdings in CocaCola were worth $99,785,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd lifted its holdings in shares of CocaCola by 5,142.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after purchasing an additional 360 shares in the last quarter. Headlands Technologies LLC purchased a new position in CocaCola in the 2nd quarter worth about $26,000. Marquette Asset Management LLC bought a new position in CocaCola during the 3rd quarter valued at about $27,000. GFG Capital LLC purchased a new stake in shares of CocaCola during the 2nd quarter valued at about $34,000. Finally, MMA Asset Management LLC purchased a new position in shares of CocaCola during the second quarter valued at approximately $34,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

CocaCola Price Performance

NYSE KO opened at $71.90 on Friday. The business’s fifty day moving average is $70.63 and its 200 day moving average is $69.36. CocaCola Company has a fifty-two week low of $61.37 and a fifty-two week high of $74.38. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. The company has a market capitalization of $309.29 billion, a PE ratio of 23.81, a price-to-earnings-growth ratio of 3.70 and a beta of 0.39.

CocaCola (NYSE:KO) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.78 by $0.04. The firm had revenue of $12.46 billion for the quarter, compared to the consensus estimate of $12.46 billion. CocaCola had a return on equity of 43.62% and a net margin of 27.34%.The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.77 earnings per share. Sell-side analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

Insiders Place Their Bets

In other CocaCola news, EVP Nancy Quan sold 31,625 shares of CocaCola stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $71.17, for a total transaction of $2,250,751.25. Following the transaction, the executive vice president owned 223,330 shares of the company’s stock, valued at $15,894,396.10. The trade was a 12.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Henrique Braun sold 40,390 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the completion of the sale, the chief operating officer directly owned 62,621 shares of the company’s stock, valued at approximately $4,441,707.53. This trade represents a 39.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 211,704 shares of company stock worth $15,005,595. Company insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on KO. Piper Sandler raised their target price on shares of CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. UBS Group restated a “buy” rating on shares of CocaCola in a research note on Friday, December 5th. Bank of America lifted their price objective on CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, November 7th. TD Cowen reiterated a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. Finally, Evercore ISI reissued an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. According to MarketBeat, CocaCola has a consensus rating of “Buy” and a consensus price target of $79.08.

About CocaCola

The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.