Coca-Cola (NYSE:KO) Stock Price Up 0.1% – Here’s What Happened

The Coca-Cola Company (NYSE:KO) shot up 0.1% during trading on Tuesday . The company traded as high as $63.75 and last traded at $63.42. 4,038,512 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 13,243,203 shares. The stock had previously closed at $63.36.

Analysts Set New Price Targets

KO has been the topic of a number of recent analyst reports. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Royal Bank of Canada upped their price target on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. TD Cowen upped their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Wells Fargo & Company boosted their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, Barclays lowered their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and an average price target of $71.80.

Coca-Cola Price Performance

The firm has a market cap of $272.30 billion, a price-to-earnings ratio of 26.21, a price-to-earnings-growth ratio of 3.88 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The stock’s 50 day simple moving average is $69.37 and its 200-day simple moving average is $66.52.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. The business had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.74 EPS. Equities research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 80.17%.

Insider Buying and Selling at Coca-Cola

In other news, EVP Lisa Chang sold 40,334 shares of Coca-Cola stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the sale, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Lisa Chang sold 40,334 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,150,619.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 303,748 shares of company stock worth $20,677,431 in the last three months. 0.97% of the stock is owned by corporate insiders.

Institutional Trading of Coca-Cola

Several institutional investors and hedge funds have recently bought and sold shares of KO. William Blair Investment Management LLC grew its stake in shares of Coca-Cola by 17.8% during the 1st quarter. William Blair Investment Management LLC now owns 207,956 shares of the company’s stock worth $12,723,000 after purchasing an additional 31,397 shares during the period. Koshinski Asset Management Inc. increased its stake in Coca-Cola by 4.6% in the 1st quarter. Koshinski Asset Management Inc. now owns 27,953 shares of the company’s stock valued at $1,710,000 after purchasing an additional 1,242 shares in the last quarter. TD Asset Management Inc raised its holdings in Coca-Cola by 0.7% during the first quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock worth $179,578,000 after purchasing an additional 20,048 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Coca-Cola by 3.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 4,343,558 shares of the company’s stock valued at $269,431,000 after purchasing an additional 138,392 shares during the last quarter. Finally, Angeles Wealth Management LLC increased its position in shares of Coca-Cola by 2.4% in the first quarter. Angeles Wealth Management LLC now owns 11,149 shares of the company’s stock valued at $682,000 after buying an additional 265 shares in the last quarter. Hedge funds and other 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.