Coca-Cola (NYSE:KO) Shares Up 0.7% – Here’s Why

Shares of The Coca-Cola Company (NYSE:KO) shot up 0.7% on Wednesday . The company traded as high as $65.10 and last traded at $64.98. 2,827,590 shares changed hands during trading, a decline of 79% from the average session volume of 13,514,348 shares. The stock had previously closed at $64.55.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KO. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Morgan Stanley dropped their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Wells Fargo & Company increased their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Truist Financial increased their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Barclays dropped their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Four investment 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’s stock. According to data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average target price of $72.36.

Coca-Cola Trading Down 0.2 %

The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The company has a fifty day moving average of $67.22 and a two-hundred day moving average of $66.56. The stock has a market capitalization of $277.55 billion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 3.91 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same period last year, the company earned $0.74 earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. On average, research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.01%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.97% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. New Millennium Group LLC acquired a new stake in Coca-Cola in the 2nd quarter worth about $26,000. Quarry LP acquired a new position in Coca-Cola during the 2nd quarter worth approximately $27,000. Hara Capital LLC purchased a new stake in Coca-Cola during the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Coca-Cola during the 3rd quarter worth approximately $36,000. Finally, Mount Lucas Management LP bought a new stake in shares of Coca-Cola in the 2nd quarter valued at approximately $38,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

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.