CocaCola (NYSE:KO) Trading Down 1.1% - Here's What Happened

Key Points

• CocaCola's stock (NYSE:KO) experienced a decline of 1.1%, trading at around $70.01 with a drop in volume of 17% from its average.
• Several analysts have updated their ratings, with an average target price of $78.31; BNP Paribas set a target at $83.00 while UBS Group lowered theirs to $80.00.
• The company declared a quarterly dividend of $0.51 per share, with a yield of 2.9%, scheduled to be paid on December 15th.

CocaCola Company (The) (NYSE:KO - Get Free Report) shares were down 1.1% during trading on Thursday . The stock traded as low as $69.72 and last traded at $70.01. Approximately 13,970,790 shares were traded during trading, a decline of 17% from the average daily volume of 16,813,924 shares. The stock had previously closed at $70.81.

Analyst Ratings Changes

KO has been the subject of a number of research reports. BNP Paribas reissued an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a report on Monday, July 21st. Piper Sandler increased their target price on shares of CocaCola from $80.00 to $81.00 and gave the stock an "overweight" rating in a research report on Wednesday. Barclays reiterated an "overweight" rating on shares of CocaCola in a research report on Thursday. Evercore ISI restated an "outperform" rating on shares of CocaCola in a research report on Tuesday. Finally, UBS Group lowered their price target on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $78.31.

CocaCola Stock Down 1.1%

The firm's 50 day moving average is $67.81 and its two-hundred day moving average is $69.70. The firm has a market cap of $301.32 billion, a P/E ratio of 23.18, a price-to-earnings-growth ratio of 3.71 and a beta of 0.43. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 45.63%. The business had revenue of $11.40 billion for the quarter. As a group, research analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

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

Insiders Place Their Bets

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction that occurred on 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 transaction, the insider owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.97% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. MorganRosel Wealth Management LLC bought a new position in CocaCola in the first quarter valued at approximately $25,000. 1248 Management LLC bought a new position in CocaCola in the first quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd lifted its stake in CocaCola by 5,142.9% in the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company's stock valued at $26,000 after buying an additional 360 shares in the last quarter. Headlands Technologies LLC bought a new position in CocaCola in the second quarter valued at approximately $26,000. Finally, Ridgewood Investments LLC lifted its position in shares of CocaCola by 148.4% in the first quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after purchasing an additional 285 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

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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