The Coca-Cola Company Announces Quarterly Dividend of $0.49 (NYSE:KO)

The Coca-Cola Company (NYSE:KO) announced a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Investors of record on Friday, June 14th will be paid a dividend of 0.485 per share on Monday, July 1st. This represents a $1.94 annualized dividend and a yield of 3.12%. The ex-dividend date is Friday, June 14th.

Coca-Cola has increased its dividend by an average of 3.9% per year over the last three years and has raised its dividend annually for the last 63 consecutive years.

Coca-Cola Price Performance

Coca-Cola stock opened at $62.18 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.95 and a current ratio of 1.04. The firm has a market cap of $268.05 billion, a P/E ratio of 24.87, a P/E/G ratio of 3.54 and a beta of 0.57. The business’s fifty day moving average is $60.22 and its two-hundred day moving average is $59.06. Coca-Cola has a 52 week low of $51.55 and a 52 week high of $64.25.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The business’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.68 earnings per share. Equities research analysts forecast that Coca-Cola will post 2.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

KO has been the topic of a number of recent analyst reports. Barclays boosted their price objective on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday. UBS Group boosted their target price on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday. Citigroup boosted their target price on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, Evercore ISI boosted their target price on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $68.27.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the sale, the chief executive officer now owns 442,546 shares in the company, valued at $26,968,753.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $13,594,097.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Quincey sold 247,188 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 323,107 shares of company stock worth $19,657,742. 0.97% of the stock is owned by insiders.

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.