The Coca-Cola Company (NYSE:KO - Get Free Report)'s stock price traded down 0.2% during mid-day trading on Monday . The stock traded as low as $71.71 and last traded at $71.86. 3,061,433 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 15,618,639 shares. The stock had previously closed at $72.00.
Analyst Upgrades and Downgrades
KO has been the subject of several recent research reports. DZ Bank upgraded 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. Wells Fargo & Company lifted their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Royal Bank of Canada upped their target price on Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Evercore ISI lifted their target price on Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Finally, Piper Sandler increased their price target on Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $75.59.
Read Our Latest Report on KO
Coca-Cola Stock Down 0.2%
The company has a market capitalization of $309.43 billion, a PE ratio of 29.11, a P/E/G ratio of 3.79 and a beta of 0.47. 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 stock has a 50-day moving average of $70.88 and a 200 day moving average of $66.78.
Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The company had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. The firm's revenue for the quarter was down .7% on a year-over-year basis. Sell-side analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.
Coca-Cola Dividend Announcement
The firm 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 dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola's dividend payout ratio (DPR) is presently 81.60%.
Insider Activity
In related news, EVP Beatriz R. Perez sold 60,326 shares of the company's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the transaction, the executive vice president now directly owns 187,716 shares in the company, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nikolaos Koumettis sold 54,708 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the sale, the insider now owns 246,909 shares of the company's stock, valued at approximately $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 have sold a total of 462,407 shares of company stock valued at $32,990,056 over the last quarter. Company insiders own 0.97% of the company's stock.
Hedge Funds Weigh In On Coca-Cola
A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Coca-Cola by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company's stock valued at $25,869,202,000 after acquiring an additional 1,114,422 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Coca-Cola by 18.5% during 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 buying an additional 11,569,920 shares during the last quarter. Norges Bank purchased a new position in shares of Coca-Cola in the fourth quarter worth $3,402,151,000. Wellington Management Group LLP raised its holdings in shares of Coca-Cola by 52.7% during the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company's stock valued at $3,398,185,000 after purchasing an additional 16,383,870 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Coca-Cola by 9.5% in the fourth quarter. Northern Trust Corp now owns 43,802,296 shares of the company's stock worth $2,727,131,000 after acquiring an additional 3,811,756 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.
About Coca-Cola
(
Get Free Report)
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.
Further Reading
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