CocaCola (NYSE:KO) Shares Down 1.8% - Here's Why

Key Points

• Coca-Cola shares fell 1.8% in midday trading, even as volume surged to about 31.9 million shares, far above its average daily volume.
• Analysts remain broadly bullish on the stock: several firms recently raised price targets, and MarketBeat data shows a consensus Buy rating with an average target of $86.80.
• The company reported strong quarterly results, beating EPS and revenue expectations, and it also announced a $0.53 quarterly dividend payable on July 1 for a 2.7% annualized yield.

CocaCola Company (The) (NYSE:KO - Get Free Report) shares were down 1.8% during mid-day trading on Friday . The stock traded as low as $78.91 and last traded at $78.9570. Approximately 31,873,094 shares traded hands during trading, an increase of 89% from the average daily volume of 16,823,879 shares. The stock had previously closed at $80.41.

Analysts Set New Price Targets

Several research firms have recently weighed in on KO. Weiss Ratings upgraded CocaCola from a "buy (b)" rating to a "buy (b+)" rating in a research note on Monday, May 4th. Citigroup upped their price objective on CocaCola from $90.00 to $91.00 and gave the company a "buy" rating in a research note on Monday, May 18th. Truist Financial set a $85.00 price objective on CocaCola in a research note on Wednesday, February 11th. Wells Fargo & Company upped their price objective on CocaCola from $87.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday, May 18th. Finally, TD Cowen upped their price objective on CocaCola from $85.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Fifteen investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $86.80.

CocaCola Stock Performance

The company has a market capitalization of $339.71 billion, a P/E ratio of 24.83, a price-to-earnings-growth ratio of 3.26 and a beta of 0.35. The firm has a 50 day moving average price of $77.69 and a two-hundred day moving average price of $75.03. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.15 and a current ratio of 1.36.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. The company had revenue of $12.47 billion for the quarter, compared to analyst estimates of $12.24 billion. CocaCola had a return on equity of 40.55% and a net margin of 27.80%.The company's revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.73 EPS. CocaCola has set its FY 2026 guidance at 3.240-3.270 EPS. On average, research analysts expect that CocaCola Company will post 3.26 earnings per share for the current fiscal year.

CocaCola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be given a dividend of $0.53 per share. The ex-dividend date is Monday, June 15th. This represents a $2.12 dividend on an annualized basis and a yield of 2.7%. CocaCola's dividend payout ratio is 66.67%.

Insider Buying and Selling at CocaCola

In related news, EVP Nancy Quan sold 31,625 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $80.93, for a total transaction of $2,559,411.25. Following the sale, the executive vice president directly owned 223,330 shares in the company, valued at $18,074,096.90. This represents a 12.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Bruno Pietracci sold 28,765 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $79.41, for a total value of $2,284,228.65. The SEC filing for this sale provides additional information. Insiders sold 630,963 shares of company stock worth $50,016,979 over the last 90 days. Company insiders own 0.90% of the company's stock.

Institutional Investors Weigh In On CocaCola

Large investors have recently bought and sold shares of the business. Brighton Jones LLC lifted its holdings in CocaCola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock worth $2,433,000 after buying an additional 4,591 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in CocaCola by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock worth $548,000 after buying an additional 293 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in CocaCola during the 1st quarter worth $210,000. Jump Financial LLC lifted its holdings in CocaCola by 450.5% during the 2nd quarter. Jump Financial LLC now owns 39,583 shares of the company's stock worth $2,800,000 after buying an additional 32,392 shares in the last quarter. Finally, Osterweis Capital Management Inc. lifted its holdings in CocaCola by 548.2% during the 2nd quarter. Osterweis Capital Management Inc. now owns 1,063 shares of the company's stock worth $75,000 after buying an additional 899 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

About CocaCola

The Coca‑Cola Company NYSE: KO is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.

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