Coca-Cola (NYSE:KO) Trading Up 0.2%

The Coca-Cola Company (NYSE:KO)’s share price was up 0.2% on Thursday . The stock traded as high as $67.05 and last traded at $66.89. Approximately 1,994,744 shares were traded during trading, a decline of 84% from the average daily volume of 12,834,489 shares. The stock had previously closed at $66.74.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on KO shares. Citigroup raised their target price on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. TD Cowen increased their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Evercore ISI increased their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Truist Financial increased their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $70.20.

Coca-Cola Stock Performance

The stock has a fifty day moving average price of $63.73 and a two-hundred day moving average price of $61.65. The company has a market cap of $293.42 billion, a P/E ratio of 26.88, a PEG ratio of 3.79 and a beta of 0.59. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The company had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 earnings per share. On average, equities analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.85%. Coca-Cola’s dividend payout ratio is presently 77.60%.

Insider Activity at Coca-Cola

In related news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the transaction, the insider now owns 1,883,546 shares in the company, valued at $1,742,280,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction, the executive vice president now owns 223,330 shares in the company, valued at $14,954,176.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the transaction, the insider now owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. Insiders have sold 879,375 shares of company stock worth $571,502,245 over the last quarter. 0.97% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Coca-Cola

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Elwood & Goetz Wealth Advisory Group LLC grew its position in Coca-Cola by 2.2% during the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock worth $437,000 after purchasing an additional 149 shares in the last quarter. Drive Wealth Management LLC boosted its stake in shares of Coca-Cola by 1.6% during the 2nd quarter. Drive Wealth Management LLC now owns 9,824 shares of the company’s stock valued at $630,000 after buying an additional 151 shares during the period. Capital Advisors Ltd. LLC boosted its stake in shares of Coca-Cola by 4.4% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock valued at $231,000 after buying an additional 153 shares during the period. Liberty Capital Management Inc. boosted its stake in shares of Coca-Cola by 3.7% during the 2nd quarter. Liberty Capital Management Inc. now owns 4,319 shares of the company’s stock valued at $275,000 after buying an additional 155 shares during the period. Finally, Azzad Asset Management Inc. ADV boosted its stake in shares of Coca-Cola by 0.4% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 42,407 shares of the company’s stock valued at $2,699,000 after buying an additional 160 shares during the period. 70.26% of the stock is currently 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.