Coca-Cola (NYSE:KO) Stock Price Up 2.2% - Here's Why

The Coca-Cola Company (NYSE:KO - Get Free Report) shares rose 2.2% on Thursday . The stock traded as high as $70.72 and last traded at $70.69. Approximately 4,688,145 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 15,537,080 shares. The stock had previously closed at $69.16.

Analysts Set New Price Targets

A number of research firms have weighed in on KO. Piper Sandler lifted their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, February 28th. JPMorgan Chase & Co. increased their target price on shares of Coca-Cola from $74.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. UBS Group increased their target price on shares of Coca-Cola from $84.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. DZ Bank upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target for the company in a research note on Thursday, February 13th. Finally, Evercore ISI raised their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Two 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $75.59.

Coca-Cola Stock Up 2.8%

The firm's 50-day simple moving average is $70.86 and its two-hundred day simple moving average is $66.68. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The company has a market capitalization of $306.01 billion, a price-to-earnings ratio of 28.78, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47.

Coca-Cola (NYSE:KO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. The business 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 revenue was down .7% on a year-over-year basis. During the same period last year, the business posted $0.72 EPS. Sell-side analysts predict that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Friday, June 13th. Coca-Cola's dividend payout ratio is 81.60%.

Insider Activity at Coca-Cola

In related news, CFO John Murphy sold 88,658 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the sale, the chief financial officer now directly owns 205,511 shares in the company, valued at $14,815,287.99. This trade represents a 30.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James Quincey sold 145,435 shares of the company's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the transaction, the chief executive officer now directly owns 342,546 shares of the company's stock, valued at $24,324,191.46. This represents a 29.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 462,407 shares of company stock valued at $32,990,056. Corporate insiders own 0.97% of the company's stock.

Institutional Investors Weigh In On Coca-Cola

Several hedge funds have recently added to or reduced their stakes in KO. Pinnacle Wealth Planning Services Inc. increased its stake in shares of Coca-Cola by 5.1% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 16,956 shares of the company's stock valued at $1,214,000 after purchasing an additional 830 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in Coca-Cola by 84.0% in the first quarter. Panagora Asset Management Inc. now owns 240,482 shares of the company's stock worth $17,223,000 after acquiring an additional 109,800 shares in the last quarter. Activest Wealth Management lifted its holdings in shares of Coca-Cola by 114.0% in the first quarter. Activest Wealth Management now owns 1,423 shares of the company's stock valued at $102,000 after purchasing an additional 758 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of Coca-Cola in the first quarter valued at approximately $771,000. Finally, GKV Capital Management Co. Inc. bought a new stake in Coca-Cola during the first quarter worth $63,000. Institutional investors and hedge funds 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.

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