Coca-Cola (NYSE:KO) Stock Price Down 0.3% on Insider Selling

The Coca-Cola Company (NYSE:KO - Get Free Report) fell 0.3% during mid-day trading on Friday following insider selling activity. The stock traded as low as $70.73 and last traded at $70.96. 2,764,646 shares were traded during trading, a decline of 82% from the average session volume of 15,428,620 shares. The stock had previously closed at $71.17.

Specifically, CFO John Murphy sold 88,658 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the transaction, the chief financial officer now owns 205,511 shares in the company, valued at $14,815,287.99. This trade represents a 30.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Ratings Changes

KO has been the subject of a number of analyst reports. UBS Group increased their price objective on Coca-Cola from $84.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Jefferies Financial Group raised Coca-Cola from a "hold" rating to a "buy" rating and upped their price target for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Royal Bank of Canada lifted their target price on shares of Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Morgan Stanley boosted their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Finally, Piper Sandler boosted 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. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $75.59.

Coca-Cola Trading Down 0.4 %

The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The business's 50 day simple moving average is $70.94 and its 200 day simple moving average is $66.64. The stock has a market cap of $304.99 billion, a price-to-earnings ratio of 28.69, a PEG ratio of 3.79 and a beta of 0.47.

Coca-Cola (NYSE:KO - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping 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 firm had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.23 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. The business's revenue for the quarter was down .7% compared to the same quarter last year. On average, research analysts expect that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Friday, June 13th. Coca-Cola's dividend payout ratio is currently 81.60%.

Institutional Trading of Coca-Cola

Institutional investors and hedge funds have recently bought and sold shares of the company. NewEdge Wealth LLC raised its stake in Coca-Cola by 6.5% during the first quarter. NewEdge Wealth LLC now owns 289,697 shares of the company's stock valued at $20,748,000 after buying an additional 17,668 shares during the last quarter. Allianz SE raised its position in Coca-Cola by 3.0% in the 1st quarter. Allianz SE now owns 167,942 shares of the company's stock worth $12,028,000 after buying an additional 4,821 shares during the last quarter. Novus Advisors LLC bought a new position in Coca-Cola during the 1st quarter valued at about $210,000. Powell Investment Advisors LLC bought a new position in shares of Coca-Cola during the 1st quarter valued at $201,000. Finally, Cheviot Value Management LLC grew its holdings in Coca-Cola by 7.5% during the first quarter. Cheviot Value Management LLC now owns 4,389 shares of the company's stock valued at $315,000 after purchasing an additional 305 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

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.

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