The Coca-Cola Company (NYSE:KO – Get Free Report)’s stock price traded down 1% during trading on Monday . The stock traded as low as $69.71 and last traded at $69.75. 3,360,924 shares were traded during trading, a decline of 74% from the average session volume of 13,115,250 shares. The stock had previously closed at $70.44.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Royal Bank of Canada upped 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. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Finally, Morgan Stanley increased their target price on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $72.00.
Coca-Cola Stock Performance
The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $299.53 billion, a PE ratio of 27.90, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60. The firm’s fifty day moving average price is $70.70 and its two-hundred day moving average price is $65.80.
Coca-Cola (NYSE:KO – Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. As a group, equities research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.
Coca-Cola Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 2.79%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.
Insider Activity
In other news, EVP Nancy Quan sold 37,787 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $14,954,176.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Coca-Cola news, EVP Nancy Quan sold 37,787 shares of Coca-Cola stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $66.96, for a total value of $2,530,217.52. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $14,954,176.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The disclosure for this sale can be found here. In the last quarter, insiders have sold 356,792 shares of company stock valued at $24,728,364. 0.97% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Coca-Cola
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Northwest Investment Counselors LLC bought a new position in Coca-Cola in the 3rd quarter worth about $139,000. Retirement Guys Formula LLC lifted its stake in Coca-Cola by 1.7% during the third quarter. Retirement Guys Formula LLC now owns 13,462 shares of the company’s stock valued at $967,000 after purchasing an additional 220 shares during the last quarter. Border to Coast Pensions Partnership Ltd lifted its stake in Coca-Cola by 4.5% during the third quarter. Border to Coast Pensions Partnership Ltd now owns 788,000 shares of the company’s stock valued at $56,460,000 after purchasing an additional 33,616 shares during the last quarter. Everence Capital Management Inc. lifted its stake in Coca-Cola by 7.0% during the third quarter. Everence Capital Management Inc. now owns 94,560 shares of the company’s stock valued at $6,795,000 after purchasing an additional 6,190 shares during the last quarter. Finally, James Hambro & Partners LLP lifted its stake in Coca-Cola by 3.8% during the third quarter. James Hambro & Partners LLP now owns 1,276,253 shares of the company’s stock valued at $91,705,000 after purchasing an additional 47,127 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.
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.