CocaCola Company (The) (NYSE:KO) Insider Sells $2,584,063.60 in Stock

Key Points

• Nikolaos Koumettis, an insider at Coca-Cola, sold 37,396 shares at an average price of $69.10, totaling $2,584,063.60, resulting in a 15.15% decrease in their ownership.
• Coca-Cola reported $0.87 earnings per share for the last quarter, exceeding analysts' expectations of $0.83, alongside a 2.5% year-over-year revenue increase to $12.50 billion.
• The company announced a quarterly dividend of $0.51 per share, marking an annualized dividend of $2.04 with a yield of 2.9%, payment scheduled for October 1st.

CocaCola Company (The) (NYSE:KO - Get Free Report) insider Nikolaos Koumettis sold 37,396 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the transaction, the insider owned 209,513 shares of the company's stock, valued at $14,477,348.30. This trade represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

CocaCola Stock Performance

Shares of NYSE:KO traded up $1.01 during trading on Thursday, reaching $70.52. The company had a trading volume of 7,307,655 shares, compared to its average volume of 17,089,744. The firm has a market capitalization of $303.49 billion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 3.59 and a beta of 0.44. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. The stock's fifty day moving average price is $70.19 and its 200 day moving average price is $69.73. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.04. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. The firm had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. During the same quarter in the prior year, the company posted $0.84 earnings per share. CocaCola's quarterly revenue was up 2.5% on a year-over-year basis. As a group, equities research analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, September 15th. CocaCola's payout ratio is presently 72.34%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KO. UBS Group decreased their price objective on CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their price objective on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Cfra Research upgraded CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. Morgan Stanley restated an "overweight" rating and set a $81.00 target price on shares of CocaCola in a research note on Monday, June 9th. Finally, BNP Paribas restated an "outperform" rating and set a $83.00 target price on shares of CocaCola in a research note on Monday, July 21st. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $77.21.

Institutional Trading of CocaCola

Institutional investors have recently bought and sold shares of the company. Brighton Jones LLC increased its stake in CocaCola by 13.3% in the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock valued at $2,433,000 after purchasing an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in CocaCola by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock valued at $548,000 after purchasing an additional 293 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in CocaCola by 12.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock valued at $1,189,000 after purchasing an additional 2,072 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in CocaCola by 59.6% during the 4th quarter. Renaissance Technologies LLC now owns 5,013 shares of the company's stock worth $310,000 after buying an additional 1,873 shares during the last quarter. Finally, Advisory Services Network LLC lifted its holdings in shares of CocaCola by 0.6% in the 4th quarter. Advisory Services Network LLC now owns 135,067 shares of the company's stock worth $8,409,000 after purchasing an additional 827 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

About CocaCola

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.