Coca-Cola (NYSE:KO) Shares Up 0.9%

The Coca-Cola Company (NYSE:KO) shot up 0.9% during mid-day trading on Friday . The stock traded as high as $63.85 and last traded at $63.65. 1,663,377 shares traded hands during trading, a decline of 87% from the average session volume of 12,897,145 shares. The stock had previously closed at $63.10.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KO. Barclays increased their price target on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. BNP Paribas began coverage on shares of Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 price target on the stock. Bank of America increased their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday. Evercore ISI raised their target price on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. raised their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $70.00.

Coca-Cola Trading Up 1.5 %

The firm has a market capitalization of $275.84 billion, a PE ratio of 25.46, a PEG ratio of 3.55 and a beta of 0.59. The firm’s fifty day moving average is $63.01 and its two-hundred day moving average is $61.04. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.86.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The business had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same period in the previous year, the company earned $0.68 earnings per share. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts predict that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date was Friday, June 14th. Coca-Cola’s payout ratio is 77.60%.

Insider Activity

In other news, EVP Monica Howard Douglas sold 8,874 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $63.31, for a total value of $561,812.94. Following the completion of the sale, the executive vice president now owns 33,638 shares of the company’s stock, valued at approximately $2,129,621.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the completion of the sale, the insider now owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Monica Howard Douglas sold 8,874 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $63.31, for a total transaction of $561,812.94. Following the sale, the executive vice president now directly owns 33,638 shares of the company’s stock, valued at approximately $2,129,621.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 822,284 shares of company stock valued at $567,718,040. Corporate insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Patrick M Sweeney & Associates Inc. purchased a new stake in Coca-Cola in the 4th quarter worth about $410,000. Beacon Pointe Advisors LLC increased its position in shares of Coca-Cola by 24.7% during the fourth quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock worth $26,549,000 after acquiring an additional 89,139 shares during the period. Birchcreek Wealth Management LLC increased its position in shares of Coca-Cola by 12.6% during the fourth quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock worth $267,000 after acquiring an additional 507 shares during the period. Smart Money Group LLC increased its position in shares of Coca-Cola by 21.6% during the fourth quarter. Smart Money Group LLC now owns 4,932 shares of the company’s stock worth $291,000 after acquiring an additional 877 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO increased its holdings in Coca-Cola by 3.2% during the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 46,470 shares of the company’s stock valued at $2,738,000 after buying an additional 1,455 shares during the period. 70.26% of the stock is currently owned by institutional investors.

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.