The Coca-Cola Company (NYSE:KO – Get Free Report)’s stock price was down 0.3% during trading on Tuesday . The company traded as low as $61.40 and last traded at $61.83. Approximately 2,759,434 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 13,275,269 shares. The stock had previously closed at $62.00.
Analyst Ratings Changes
A number of research analysts recently commented on KO shares. JPMorgan Chase & Co. increased their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Argus lifted their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. UBS Group lifted their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Barclays lifted their price objective on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Evercore ISI lifted their price objective on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.58.
Coca-Cola Stock Down 0.3 %
The company’s 50 day moving average price is $61.11 and its 200 day moving average price is $59.95. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $266.36 billion, a price-to-earnings ratio of 24.73, a P/E/G ratio of 3.50 and a beta of 0.57.
Coca-Cola (NYSE:KO – Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The business had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, research analysts forecast that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.
Coca-Cola Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.14%. Coca-Cola’s payout ratio is currently 77.60%.
Insider Activity at Coca-Cola
In related news, EVP Monica Howard Douglas sold 8,874 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $63.31, for a total transaction of $561,812.94. Following the completion of the transaction, the executive vice president now directly owns 33,638 shares in the company, valued at $2,129,621.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Coca-Cola news, EVP Henrique Braun sold 57,298 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $63.08, for a total value of $3,614,357.84. Following the completion of the transaction, the executive vice president now owns 52,466 shares in the company, valued at $3,309,555.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Monica Howard Douglas sold 8,874 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $63.31, for a total transaction of $561,812.94. Following the completion of the transaction, the executive vice president now owns 33,638 shares of the company’s stock, valued at approximately $2,129,621.78. The disclosure for this sale can be found here. Insiders sold 199,389 shares of company stock worth $12,322,179 over the last three months. Company insiders own 0.97% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. Cetera Advisor Networks LLC raised its position in shares of Coca-Cola by 4.1% in the first quarter. Cetera Advisor Networks LLC now owns 509,277 shares of the company’s stock worth $31,158,000 after acquiring an additional 19,985 shares during the period. Cetera Advisors LLC increased its stake in shares of Coca-Cola by 39.9% during the first quarter. Cetera Advisors LLC now owns 366,670 shares of the company’s stock worth $22,433,000 after purchasing an additional 104,506 shares in the last quarter. Invst LLC increased its stake in shares of Coca-Cola by 27.4% during the first quarter. Invst LLC now owns 31,679 shares of the company’s stock worth $1,922,000 after purchasing an additional 6,819 shares in the last quarter. Dodds Wealth LLC purchased a new stake in shares of Coca-Cola during the first quarter worth about $207,000. Finally, Community Trust & Investment Co. increased its stake in shares of Coca-Cola by 13.5% during the first quarter. Community Trust & Investment Co. now owns 54,470 shares of the company’s stock worth $3,332,000 after purchasing an additional 6,458 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.
About Coca-Cola
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.