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

CocaCola Company (The) (NYSE:KO - Get Free Report) shares dropped 1.4% during trading on Wednesday . The stock traded as low as $69.34 and last traded at $69.28. Approximately 10,253,914 shares were traded 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

KO has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on CocaCola from $74.00 to $78.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Royal Bank Of Canada boosted their price target on shares of CocaCola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Morgan Stanley reiterated an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. Cfra Research upgraded CocaCola to a "strong-buy" rating in a report on Tuesday, April 15th. Finally, UBS Group upped their price target on CocaCola from $84.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, CocaCola has a consensus rating of "Buy" and a consensus target price of $76.27.

CocaCola Stock Up 0.5%

The business has a 50-day moving average of $70.96 and a 200-day moving average of $68.72. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.89 and a current ratio of 1.10. The stock has a market capitalization of $300.46 billion, a price-to-earnings ratio of 27.92, a P/E/G ratio of 3.64 and a beta of 0.45.

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

CocaCola Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were given a dividend of $0.51 per share. The ex-dividend date was Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.92%. CocaCola's dividend payout ratio is currently 81.60%.

Insider Activity

In related news, CEO James Quincey sold 266,403 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the transaction, the chief executive officer directly owned 275,946 shares in the company, valued at $19,884,668.76. This trade represents a 49.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of CocaCola stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the transaction, the executive vice president directly owned 187,716 shares of the company's stock, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 415,387 shares of company stock valued at $29,923,985. 0.97% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CocaCola

Several institutional investors have recently modified their holdings of KO. Brighton Jones LLC lifted its stake in CocaCola by 13.3% in the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock worth $2,433,000 after acquiring an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of CocaCola by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock worth $548,000 after purchasing an additional 293 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in shares of CocaCola by 12.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock worth $1,189,000 after purchasing an additional 2,072 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in CocaCola by 46.2% in the fourth 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 last quarter. Finally, Moran Wealth Management LLC raised its stake in CocaCola by 6.9% in the fourth quarter. Moran Wealth Management LLC now owns 41,850 shares of the company's stock valued at $2,606,000 after buying an additional 2,684 shares in the last quarter. Institutional investors and hedge funds 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.