CocaCola (NYSE:KO) Shares Down 1.3% - Time to Sell?

CocaCola Company (The) (NYSE:KO - Get Free Report)'s share price dropped 1.3% during mid-day trading on Tuesday . The company traded as low as $69.88 and last traded at $70.10. Approximately 3,433,209 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 16,132,344 shares. The stock had previously closed at $71.01.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. UBS Group increased their price objective on shares of CocaCola from $84.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Barclays restated an "overweight" rating on shares of CocaCola in a research report on Thursday, March 27th. Cfra Research upgraded CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. Morgan Stanley restated an "overweight" rating and set a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. Finally, Royal Bank Of Canada boosted their price target on shares of CocaCola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, CocaCola has a consensus rating of "Buy" and a consensus price target of $76.27.

CocaCola Stock Down 1.0%

The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. The stock has a market cap of $302.68 billion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 3.72 and a beta of 0.45. The firm has a fifty day moving average of $71.02 and a 200 day moving average of $68.71.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.02. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The business had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the prior year, the business posted $0.72 EPS. The business's revenue for the quarter was down .7% on a year-over-year basis. On average, equities research analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date was Friday, June 13th. CocaCola's dividend payout ratio is currently 81.60%.

Insider Transactions at CocaCola

In other CocaCola news, CFO John Murphy sold 88,658 shares of the business's stock in a transaction 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 transaction, the chief financial officer directly owned 205,511 shares of the company's stock, valued at approximately $14,815,287.99. The trade was a 30.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Beatriz R. Perez sold 60,326 shares of CocaCola stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the sale, the executive vice president directly owned 187,716 shares in the company, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 415,387 shares of company stock worth $29,923,985. Insiders own 0.90% of the company's stock.

Hedge Funds Weigh In On CocaCola

A number of large investors have recently modified their holdings of the business. MorganRosel Wealth Management LLC purchased a new stake in shares of CocaCola during the 1st quarter worth $25,000. 1248 Management LLC acquired a new stake in shares of CocaCola in the first quarter valued at about $26,000. Crowley Wealth Management Inc. acquired a new stake in shares of CocaCola in the fourth quarter valued at about $27,000. Garde Capital Inc. acquired a new position in CocaCola during the first quarter worth about $30,000. Finally, Mizuho Securities Co. Ltd. grew its position in CocaCola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after buying an additional 360 shares during the period. 70.26% of the stock is 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.