Coca-Cola (NYSE:KO) Stock Price Down 0.4% - Here's What Happened

The Coca-Cola Company (NYSE:KO - Get Free Report) fell 0.4% during mid-day trading on Tuesday . The stock traded as low as $71.16 and last traded at $71.43. 2,713,053 shares were traded during mid-day trading, a decline of 82% from the average session volume of 15,380,129 shares. The stock had previously closed at $71.70.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KO. UBS Group lifted their price target on Coca-Cola from $84.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Piper Sandler upped their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. JPMorgan Chase & Co. lifted their target price on shares of Coca-Cola from $74.00 to $78.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. TD Cowen upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price for the company in a report on Wednesday, January 8th. Finally, Wells Fargo & Company increased their price objective on Coca-Cola from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Coca-Cola currently has an average rating of "Buy" and a consensus price target of $75.59.

Coca-Cola Trading Down 0.5 %

The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The company has a fifty day moving average price of $70.96 and a two-hundred day moving average price of $66.63. The firm has a market capitalization of $310.01 billion, a price-to-earnings ratio of 29.16, a PEG ratio of 3.79 and a beta of 0.47.

Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The business had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same period in the previous year, the firm earned $0.72 EPS. The business's revenue was down .7% on a year-over-year basis. As a group, research analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Friday, June 13th. Coca-Cola's dividend payout ratio (DPR) is 81.60%.

Insider Buying and Selling

In other Coca-Cola news, COO Henrique Braun sold 25,277 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the completion of the transaction, the chief operating officer now directly owns 52,466 shares in the company, valued at approximately $3,749,745.02. This trade represents a 32.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nikolaos Koumettis sold 55,500 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $71.01, for a total value of $3,941,055.00. Following the sale, the insider now owns 246,909 shares in the company, valued at approximately $17,533,008.09. This trade represents a 18.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock worth $22,263,071 in the last quarter. 0.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Coca-Cola

Hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in Coca-Cola by 18.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock valued at $4,617,400,000 after acquiring an additional 11,569,920 shares in the last quarter. Norges Bank acquired a new position in Coca-Cola in the 4th quarter worth $3,402,151,000. Northern Trust Corp boosted its position in Coca-Cola by 9.5% in the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock valued at $2,727,131,000 after buying an additional 3,811,756 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Coca-Cola by 21.9% during the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock worth $2,123,301,000 after acquiring an additional 6,118,819 shares during the last quarter. Finally, Capital International Investors increased its holdings in Coca-Cola by 96.0% during the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company's stock worth $1,553,337,000 after purchasing an additional 12,222,885 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

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.