Coca-Cola Co (The) (NYSE:KO) Director David B. Weinberg sold 200,000 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $48.02, for a total value of $9,604,000.00. Following the sale, the director now owns 355,214 shares in the company, valued at $17,057,376.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
KO opened at $47.24 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.09 and a debt-to-equity ratio of 1.97. Coca-Cola Co has a 12-month low of $36.27 and a 12-month high of $60.13. The stock has a fifty day moving average of $45.98 and a 200-day moving average of $49.34. The firm has a market capitalization of $202.92 billion, a P/E ratio of 22.28, a PEG ratio of 5.51 and a beta of 0.54.
Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 21st. The company reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. Coca-Cola had a return on equity of 41.44% and a net margin of 26.77%. The company had revenue of $7.20 billion for the quarter, compared to analyst estimates of $7.26 billion. During the same period last year, the company earned $0.63 earnings per share. The business’s revenue was down 28.0% compared to the same quarter last year. On average, analysts expect that Coca-Cola Co will post 1.8 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $1.64 annualized dividend and a yield of 3.47%. Coca-Cola’s dividend payout ratio (DPR) is currently 77.73%.
A number of analysts have recently weighed in on KO shares. Bank of America reiterated a “buy” rating and set a $53.00 price target on shares of Coca-Cola in a research report on Friday, July 17th. Barclays reiterated a “buy” rating and set a $50.00 price target on shares of Coca-Cola in a research report on Thursday, April 23rd. Citigroup lowered their target price on Coca-Cola from $63.00 to $51.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 22nd. Morgan Stanley upgraded Coca-Cola from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $52.00 to $54.00 in a research report on Wednesday, July 22nd. They noted that the move was a valuation call. Finally, Cfra lowered their target price on Coca-Cola from $60.00 to $55.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, April 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $54.05.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Costello Asset Management INC bought a new position in Coca-Cola during the second quarter valued at about $25,000. PrairieView Partners LLC bought a new position in Coca-Cola during the first quarter valued at about $27,000. Evolution Wealth Advisors LLC grew its position in shares of Coca-Cola by 112.5% in the second quarter. Evolution Wealth Advisors LLC now owns 627 shares of the company’s stock valued at $28,000 after purchasing an additional 332 shares during the last quarter. Pearl River Capital LLC acquired a new stake in shares of Coca-Cola in the first quarter valued at about $30,000. Finally, HighMark Wealth Management LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at about $44,000. Institutional investors own 67.40% of the company’s stock.
Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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