The Coca-Cola Company (NYSE:KO – Get Free Report)’s share price was up 0.1% during mid-day trading on Tuesday . The company traded as high as $71.77 and last traded at $71.77. Approximately 3,600,745 shares changed hands during trading, a decline of 73% from the average daily volume of 13,264,303 shares. The stock had previously closed at $71.73.
Analysts Set New Price Targets
A number of brokerages have weighed in on KO. Deutsche Bank Aktiengesellschaft lifted their price objective on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Citigroup lifted their price target on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. BNP Paribas started coverage on Coca-Cola in a report on Monday, June 24th. They issued an “outperform” rating and a $72.00 target price for the company. Royal Bank of Canada boosted their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $71.07.
Coca-Cola Stock Performance
The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The stock has a fifty day moving average price of $69.30 and a two-hundred day moving average price of $64.46. The company has a market capitalization of $307.20 billion, a price-to-earnings ratio of 28.71, a PEG ratio of 3.93 and a beta of 0.60.
Coca-Cola (NYSE:KO – Get Free Report) last announced its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. The firm had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 EPS. As a group, analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.
Coca-Cola Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Friday, September 13th. Coca-Cola’s dividend payout ratio is presently 77.60%.
Insider Activity
In other news, EVP Nancy Quan sold 18,482 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,398,603.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Nancy Quan sold 18,482 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total value of $1,274,333.90. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James Quincey sold 42,397 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $70.02, for a total value of $2,968,637.94. Following the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The disclosure for this sale can be found here. Insiders sold a total of 974,715 shares of company stock valued at $579,704,927 over the last quarter. Company insiders own 0.97% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in KO. Gilbert & Cook Inc. raised its stake in shares of Coca-Cola by 5.6% during the fourth quarter. Gilbert & Cook Inc. now owns 15,971 shares of the company’s stock valued at $941,000 after purchasing an additional 841 shares during the period. Accretive Wealth Partners LLC boosted its position in Coca-Cola by 1.4% in the 4th quarter. Accretive Wealth Partners LLC now owns 25,843 shares of the company’s stock valued at $1,523,000 after buying an additional 351 shares during the last quarter. Aveo Capital Partners LLC grew its stake in shares of Coca-Cola by 13.9% during the fourth quarter. Aveo Capital Partners LLC now owns 9,709 shares of the company’s stock valued at $572,000 after acquiring an additional 1,182 shares in the last quarter. Gryphon Financial Partners LLC increased its position in shares of Coca-Cola by 72.0% during the fourth quarter. Gryphon Financial Partners LLC now owns 17,973 shares of the company’s stock worth $1,034,000 after acquiring an additional 7,521 shares during the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. purchased a new position in Coca-Cola in the fourth quarter valued at about $401,000. 70.26% of the stock is owned by hedge funds and other institutional investors.
Coca-Cola 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.