CocaCola (NYSE:KO) Stock Price Down 1.1% - Here's Why

CocaCola Company (The) (NYSE:KO - Get Free Report) dropped 1.1% during mid-day trading on Tuesday . The stock traded as low as $68.69 and last traded at $69.33. Approximately 10,053,544 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 16,404,383 shares. The stock had previously closed at $70.07.

Analyst Ratings Changes

KO has been the subject of several analyst reports. Cfra Research raised shares of CocaCola to a "strong-buy" rating in a research note on Tuesday, April 15th. Barclays reissued an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the stock an "outperform" rating in a research note on Monday. JPMorgan Chase & Co. raised their price objective on shares of CocaCola from $74.00 to $78.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. Finally, BNP Paribas reissued an "outperform" rating and issued a $83.00 price objective on shares of CocaCola in a research note on Monday. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $77.13.

CocaCola Trading Down 0.6%

The company has a market capitalization of $299.87 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 3.66 and a beta of 0.45. The company's fifty day moving average is $70.71 and its 200-day moving average is $69.17. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.04. The company had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. CocaCola's revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company posted $0.84 earnings per share. On average, analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola's dividend payout ratio is currently 81.60%.

Insiders Place Their Bets

In other news, CFO John Murphy sold 88,658 shares of CocaCola stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the sale, the chief financial officer directly owned 205,511 shares in the company, valued at approximately $14,815,287.99. The trade was a 30.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Beatriz R. Perez sold 60,326 shares of CocaCola stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the sale, the executive vice president owned 187,716 shares of the company's stock, valued at $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 415,387 shares of company stock valued at $29,923,985. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Simplicity Wealth LLC lifted its position in CocaCola by 123.5% during the second quarter. Simplicity Wealth LLC now owns 103,113 shares of the company's stock valued at $7,295,000 after purchasing an additional 56,983 shares during the period. Chemung Canal Trust Co. lifted its position in CocaCola by 12.0% during the second quarter. Chemung Canal Trust Co. now owns 119,023 shares of the company's stock valued at $8,421,000 after purchasing an additional 12,719 shares during the period. OLD National Bancorp IN lifted its position in CocaCola by 3.9% during the second quarter. OLD National Bancorp IN now owns 76,437 shares of the company's stock valued at $5,408,000 after purchasing an additional 2,874 shares during the period. Highland Capital Management LLC raised its position in shares of CocaCola by 2.5% in the second quarter. Highland Capital Management LLC now owns 84,866 shares of the company's stock worth $6,004,000 after acquiring an additional 2,048 shares during the period. Finally, Carolina Wealth Advisors LLC raised its position in shares of CocaCola by 267.8% in the second quarter. Carolina Wealth Advisors LLC now owns 1,659 shares of the company's stock worth $117,000 after acquiring an additional 1,208 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

CocaCola Company Profile

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.