The Coca-Cola Company (NYSE:KO – Get Free Report) shares shot up 0.4% during mid-day trading on Wednesday . The company traded as high as $72.38 and last traded at $72.06. 1,624,455 shares changed hands during trading, a decline of 88% from the average session volume of 13,078,382 shares. The stock had previously closed at $71.80.
Analyst Ratings Changes
KO has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Royal Bank of Canada increased their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price objective on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Citigroup increased their target price on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Cfra restated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.07.
Coca-Cola Price Performance
The firm has a market capitalization of $311.12 billion, a PE ratio of 28.82, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60. The business’s 50 day moving average is $68.65 and its two-hundred day moving average is $64.13. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08.
Coca-Cola (NYSE:KO – Get Free Report) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The business had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.78 EPS. Equities research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.
Coca-Cola Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.
Insider Activity at Coca-Cola
In related news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the transaction, the insider now directly owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the transaction, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The disclosure for this sale can be found here. Insiders have sold a total of 974,715 shares of company stock valued at $579,704,927 over the last 90 days. 0.97% of the stock is owned by insiders.
Institutional Trading of Coca-Cola
Institutional investors have recently made changes to their positions in the stock. New Millennium Group LLC bought a new stake in Coca-Cola in the 2nd quarter worth $26,000. Quarry LP bought a new stake in shares of Coca-Cola in the 2nd quarter worth approximately $27,000. Tidemark LLC purchased a new stake in Coca-Cola in the fourth quarter worth $26,000. ESL Trust Services LLC purchased a new position in shares of Coca-Cola during the first quarter valued at approximately $28,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Coca-Cola in the 1st quarter worth approximately $28,000. Hedge funds and other institutional investors 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.