CocaCola (NYSE:KO) Trading Down 1% - Time to Sell?

Key Points

• CocaCola's stock decreased by 1%, trading at approximately $66.09 after reaching a low of $65.86 during the day, with trading volume down 16% compared to the average.
• Analysts have mixed views on the stock, with JPMorgan raising the price target to $79.00, while Wells Fargo lowered it to $75.00, resulting in a consensus "Buy" rating and an average price target of $76.93.
• CocaCola announced a quarterly dividend of $0.51, representing a 3.1% yield and has a payout ratio of 72.34%.

CocaCola Company (The) (NYSE:KO - Get Free Report)'s share price was down 1% during mid-day trading on Thursday . The stock traded as low as $65.86 and last traded at $66.09. Approximately 14,286,113 shares changed hands during mid-day trading, a decline of 16% from the average daily volume of 16,913,695 shares. The stock had previously closed at $66.78.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on KO. JPMorgan Chase & Co. lifted their price target on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Wells Fargo & Company decreased their price objective on shares of CocaCola from $78.00 to $75.00 and set an "overweight" rating on the stock in a research report on Thursday, September 25th. Morgan Stanley reaffirmed an "overweight" rating and issued a $81.00 target price on shares of CocaCola in a report on Monday, June 9th. 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. Finally, UBS Group lowered their price objective on CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $76.93.

CocaCola Trading Down 1.0%

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 stock's 50 day moving average is $68.38 and its 200-day moving average is $69.99. The company has a market cap of $284.44 billion, a PE ratio of 23.44, a P/E/G ratio of 3.46 and a beta of 0.43.

CocaCola (NYSE:KO - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The firm had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. During the same quarter last year, the firm earned $0.84 EPS. The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, sell-side analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were paid a $0.51 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 3.1%. CocaCola's dividend payout ratio is currently 72.34%.

Insider Activity

In related news, insider Nikolaos Koumettis sold 37,396 shares of the 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 sale, the insider directly owned 209,513 shares of the company's stock, valued at $14,477,348.30. This represents a 15.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.97% of the company's stock.

Institutional Investors Weigh In On CocaCola

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new position in CocaCola in the second quarter worth approximately $3,846,270,000. Nuveen LLC purchased a new stake in shares of CocaCola in the 1st quarter worth $1,508,657,000. Wellington Management Group LLP lifted its holdings in shares of CocaCola by 52.7% in the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company's stock worth $3,398,185,000 after buying an additional 16,383,870 shares during the period. Boston Partners bought a new position in shares of CocaCola during the 1st quarter worth $642,183,000. Finally, Vanguard Group Inc. increased its stake in shares of CocaCola by 1.7% during the second quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company's stock valued at $25,996,519,000 after buying an additional 6,241,163 shares during the period. 70.26% of the stock is owned by 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.