CocaCola (NYSE:KO) Stock Price Up 4.1% Following Earnings Beat

Key Points

• CocaCola's stock price rose 4.1% to $71.22 following a quarterly earnings report that exceeded expectations, with earnings per share (EPS) of $0.55 and revenue of $11.40 billion.
• The company declared a quarterly dividend of $0.51 per share, to be paid on December 15th, representing an annualized yield of 2.9%.
• Analysts have given CocaCola an average rating of "Buy" with a consensus price target of $76.69, reflecting positive market sentiment towards the stock.

CocaCola Company (The) (NYSE:KO - Get Free Report)'s share price rose 4.1% on Tuesday following a better than expected earnings announcement. The stock traded as high as $71.39 and last traded at $71.22. Approximately 33,563,337 shares were traded during mid-day trading, an increase of 100% from the average daily volume of 16,816,734 shares. The stock had previously closed at $68.44.

The company reported $0.55 earnings per share (EPS) for the quarter. The firm had revenue of $11.40 billion during the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.

CocaCola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, December 1st. CocaCola's dividend payout ratio (DPR) is 72.34%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on KO shares. BNP Paribas reiterated an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. Weiss Ratings reiterated a "buy (b-)" rating on shares of CocaCola in a research note on Wednesday, October 8th. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an "outperform" rating in a research note on Monday, July 21st. Wells Fargo & Company decreased their target price on CocaCola from $78.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday, September 25th. Finally, JPMorgan Chase & Co. lifted their target price on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $76.69.

Insider Buying and Selling

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the transaction, the insider directly owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CocaCola

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Advisors Inc. OK boosted its position in shares of CocaCola by 2.9% during the third quarter. Capital Advisors Inc. OK now owns 737,291 shares of the company's stock worth $48,897,000 after buying an additional 20,550 shares during the period. Davis Capital Management acquired a new position in shares of CocaCola during the third quarter worth approximately $1,985,000. Measured Risk Portfolios Inc. boosted its position in shares of CocaCola by 1.9% during the third quarter. Measured Risk Portfolios Inc. now owns 26,321 shares of the company's stock worth $1,746,000 after buying an additional 482 shares during the period. Hedeker Wealth LLC boosted its position in shares of CocaCola by 1.5% during the third quarter. Hedeker Wealth LLC now owns 18,894 shares of the company's stock worth $1,253,000 after buying an additional 285 shares during the period. Finally, Synergy Asset Management LLC boosted its position in shares of CocaCola by 232.0% during the third quarter. Synergy Asset Management LLC now owns 1,110,327 shares of the company's stock worth $75,118,000 after buying an additional 775,906 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

CocaCola Stock Performance

The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The company has a 50-day moving average price of $67.79 and a 200-day moving average price of $69.69. The firm has a market capitalization of $306.51 billion, a price-to-earnings ratio of 25.26, a P/E/G ratio of 3.57 and a beta of 0.43.

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.

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