Coca-Cola (NYSE:KO) Stock Price Up 0.4% - Here's Why

The Coca-Cola Company (NYSE:KO - Get Free Report) traded up 0.4% on Wednesday . The company traded as high as $72.19 and last traded at $72.03. 3,031,923 shares were traded during trading, a decline of 80% from the average session volume of 15,393,817 shares. The stock had previously closed at $71.72.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company increased their price target on Coca-Cola from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Piper Sandler boosted their price target on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. TD Cowen raised shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. lifted their price objective on shares of Coca-Cola from $74.00 to $78.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Finally, Morgan Stanley upped their price objective on Coca-Cola from $76.00 to $78.00 and gave the stock an "overweight" rating in a research 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 company. According to MarketBeat, Coca-Cola has a consensus rating of "Buy" and a consensus target price of $75.59.

Coca-Cola Stock Up 1.1 %

The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The company has a market capitalization of $311.92 billion, a PE ratio of 29.31, a PEG ratio of 3.79 and a beta of 0.47. The stock's 50 day moving average is $70.94 and its 200 day moving average is $66.59.

Coca-Cola (NYSE:KO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.02. The company had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The firm's quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 earnings per share. On average, sell-side analysts anticipate 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. Shareholders of record on Friday, June 13th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.81%. Coca-Cola's dividend payout ratio (DPR) is 81.60%.

Insider Activity

In other news, insider Bruno Pietracci sold 19,058 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Nikolaos Koumettis sold 54,708 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the transaction, the insider now owns 246,909 shares in the company, valued at $17,520,662.64. The trade was a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 313,423 shares of company stock valued at $22,263,071 in the last quarter. 0.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coca-Cola

Several large investors have recently added to or reduced their stakes in the stock. MorganRosel Wealth Management LLC bought a new position in Coca-Cola during the 1st quarter worth about $25,000. Garde Capital Inc. purchased a new stake in Coca-Cola during the first quarter valued at approximately $30,000. Crowley Wealth Management Inc. acquired a new stake in Coca-Cola in the fourth quarter valued at approximately $27,000. Mizuho Securities Co. Ltd. lifted its holdings in shares of Coca-Cola by 360.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after purchasing an additional 360 shares during the last quarter. Finally, Ridgewood Investments LLC grew its stake in Coca-Cola by 148.4% during the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after buying an additional 285 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.