Coca-Cola (NYSE:KO) Sets New 12-Month High - What's Next?

The Coca-Cola Company (NYSE:KO - Get Free Report) shares reached a new 52-week high on Wednesday . The stock traded as high as $74.38 and last traded at $73.92, with a volume of 15585353 shares trading hands. The stock had previously closed at $72.77.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KO. JPMorgan Chase & Co. raised their price objective on shares of Coca-Cola from $74.00 to $78.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Barclays reiterated an "overweight" rating on shares of Coca-Cola in a research report on Thursday, March 27th. Royal Bank of Canada reiterated an "outperform" rating and set a $69.00 price target on shares of Coca-Cola in a research report on Thursday, February 6th. Evercore ISI lifted their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company lifted their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola has a consensus rating of "Buy" and an average price target of $75.06.

Coca-Cola Price Performance

The company's fifty day moving average price is $70.78 and its two-hundred day moving average price is $66.48. The company has a market cap of $309.68 billion, a price-to-earnings ratio of 29.13, a PEG ratio of 3.79 and a beta of 0.45. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO - Get Free Report) last released its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. On average, equities research analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Coca-Cola's previous quarterly dividend of $0.49. Coca-Cola's dividend payout ratio is 82.59%.

Insiders Place Their Bets

In other news, COO Henrique Braun sold 25,277 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total value of $1,806,547.19. Following the completion of the transaction, the chief operating officer now owns 52,466 shares in the company, valued at $3,749,745.02. This trade represents a 32.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa Chang sold 13,445 shares of the firm's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total value of $961,317.50. Following the completion of the transaction, the executive vice president now owns 94,676 shares of the company's stock, valued at $6,769,334. The trade was a 12.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 313,423 shares of company stock worth $22,263,071. Corporate insiders own 0.97% of the company's stock.

Hedge Funds Weigh In On Coca-Cola

Hedge funds and other institutional investors have recently bought and sold shares of the business. MorganRosel Wealth Management LLC bought a new position in Coca-Cola during the first quarter worth about $25,000. Garde Capital Inc. bought a new position in Coca-Cola during the first quarter worth about $30,000. Crowley Wealth Management Inc. bought a new position in Coca-Cola during the fourth quarter worth about $27,000. Mizuho Securities Co. Ltd. grew its holdings in Coca-Cola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after purchasing an additional 360 shares during the period. Finally, Moser Wealth Advisors LLC grew its holdings in Coca-Cola by 449.5% during the first quarter. Moser Wealth Advisors LLC now owns 500 shares of the company's stock worth $36,000 after purchasing an additional 409 shares during the period. 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.