CocaCola (NYSE:KO) Shares Down 1.4% - What's Next?

CocaCola Company (The) (NYSE:KO - Get Free Report)'s stock price dropped 1.4% during mid-day trading on Wednesday . The company traded as low as $69.34 and last traded at $69.28. Approximately 10,253,914 shares changed hands during trading, a decline of 37% from the average daily volume of 16,185,580 shares. The stock had previously closed at $70.24.

Analyst Ratings Changes

A number of equities analysts have weighed in on KO shares. Barclays reissued an "overweight" rating on shares of CocaCola in a research report on Thursday, March 27th. JPMorgan Chase & Co. lifted their price target 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. Morgan Stanley restated an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. Royal Bank Of Canada boosted their target price on shares of CocaCola from $73.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Finally, UBS Group raised their price target on CocaCola from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $76.71.

CocaCola Price Performance

The company has a quick ratio of 0.89, a current ratio of 1.10 and a debt-to-equity ratio of 1.57. The stock has a market cap of $300.83 billion, a P/E ratio of 27.96, a P/E/G ratio of 3.64 and a beta of 0.45. The firm has a 50 day moving average price of $70.93 and a 200 day moving average price of $68.77.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. The business had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The company's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 earnings per share. On average, analysts forecast that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend was Friday, June 13th. CocaCola's dividend payout ratio (DPR) is 81.60%.

Insider Activity at CocaCola

In other news, CEO James Quincey sold 266,403 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the transaction, the chief executive officer owned 275,946 shares of the company's stock, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the firm's 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 transaction, the chief financial officer directly owned 205,511 shares of the company's stock, valued at $14,815,287.99. The trade was a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 415,387 shares of company stock valued at $29,923,985. 0.97% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC increased its holdings in shares of CocaCola by 13.3% in 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 during the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of CocaCola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock worth $548,000 after purchasing an additional 293 shares during the period. Bank Pictet & Cie Europe AG increased its position in shares of CocaCola by 12.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock valued at $1,189,000 after purchasing an additional 2,072 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in CocaCola by 46.2% during the 4th quarter. Proficio Capital Partners LLC now owns 10,843 shares of the company's stock valued at $675,000 after buying an additional 3,426 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its position in CocaCola by 8.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 156,153 shares of the company's stock worth $9,722,000 after buying an additional 12,592 shares during 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.