Coca-Cola (NYSE:KO) Stock Price Up 0.7% Following Strong Earnings

The Coca-Cola Company (NYSE:KO - Get Free Report) shares rose 0.7% on Tuesday following a better than expected earnings announcement. The company traded as high as $72.35 and last traded at $72.33. Approximately 6,184,838 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 15,362,228 shares. The stock had previously closed at $71.79.

The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.02. The firm had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The company's quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 earnings per share.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date was Friday, March 14th. This is an increase from Coca-Cola's previous quarterly dividend of $0.49. Coca-Cola's payout ratio is 81.60%.

Analyst Ratings Changes

A number of research firms recently commented on KO. Evercore ISI upped their price objective on Coca-Cola from $72.00 to $75.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Barclays reissued an "overweight" rating on shares of Coca-Cola in a report on Thursday, March 27th. Royal Bank of Canada raised their price objective on shares of Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday. Piper Sandler raised their price target on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Finally, Morgan Stanley increased their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Coca-Cola currently has an average rating of "Buy" and a consensus target price of $75.59.

Insider Activity

In other news, EVP Lisa Chang sold 13,445 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total transaction of $961,317.50. Following the transaction, the executive vice president now directly owns 94,676 shares of the company's stock, valued at approximately $6,769,334. This represents a 12.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nikolaos Koumettis sold 54,708 shares of the business's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total value of $3,882,079.68. Following the transaction, the insider now owns 246,909 shares in the company, valued at approximately $17,520,662.64. This trade represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 313,423 shares of company stock worth $22,263,071. Corporate insiders own 0.97% of the company's stock.

Institutional Investors Weigh In On Coca-Cola

A number of large investors have recently modified their holdings of KO. MorganRosel Wealth Management LLC purchased a new position in shares of Coca-Cola in the first quarter worth about $25,000. Crowley Wealth Management Inc. acquired a new stake in Coca-Cola during the 4th quarter valued at approximately $27,000. Garde Capital Inc. purchased a new stake in shares of Coca-Cola in the 1st quarter valued at $30,000. Mainstream Capital Management LLC acquired a new stake in shares of Coca-Cola in the fourth quarter worth $31,000. Finally, Mizuho Securities Co. Ltd. lifted its holdings in shares of Coca-Cola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after buying an additional 360 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

Coca-Cola Stock Performance

The company has a market capitalization of $307.99 billion, a PE ratio of 28.92, a PEG ratio of 3.79 and a beta of 0.45. The firm has a 50-day moving average of $70.88 and a two-hundred day moving average of $66.58. 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 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.