CocaCola (NYSE:KO) Trading Up 1.2% - Still a Buy?

Key Points

• CocaCola's share price increased by 1.2% to $68.90, but the trading volume was significantly lower than average, dropping by 82% to approximately 3.1 million shares.
• Analysts have a positive outlook with a consensus rating of "Buy" and price targets ranging from $76 to $84, with an average target of $77.21.
• The company announced a quarterly dividend of $0.51 per share, yielding 2.95%, which reflects a 72.34% dividend payout ratio.

CocaCola Company (The) (NYSE:KO - Get Free Report)'s share price was up 1.2% during trading on Tuesday . The company traded as high as $68.86 and last traded at $68.90. Approximately 3,101,920 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 17,243,760 shares. The stock had previously closed at $68.09.

Analysts Set New Price Targets

Several analysts recently issued reports on KO shares. Cfra Research raised shares of CocaCola to a "strong-buy" rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. increased their target price on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. UBS Group lowered their price target on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Morgan Stanley reaffirmed an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. Finally, Royal Bank Of Canada set a $76.00 target price on shares of CocaCola and gave the company an "outperform" rating in a report on Monday, July 21st. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, CocaCola presently has a consensus rating of "Buy" and a consensus price target of $77.21.

CocaCola Stock Up 1.6%

The company has a 50-day simple moving average of $70.56 and a two-hundred day simple moving average of $69.50. 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 has a market cap of $297.83 billion, a P/E ratio of 24.52, a P/E/G ratio of 3.60 and a beta of 0.45.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. The firm had revenue of $12.50 billion for the quarter, compared to analysts' expectations of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The company's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.84 earnings per share. On average, equities analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola's dividend payout ratio (DPR) is currently 72.34%.

Insider Activity at CocaCola

In other news, CFO John Murphy sold 88,658 shares of CocaCola stock in a transaction dated 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 sale, the chief financial officer owned 205,511 shares of the company's stock, valued at approximately $14,815,287.99. The trade was a 30.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James Quincey sold 266,403 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was 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 in the company, valued at $19,884,668.76. This trade represents a 49.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 415,387 shares of company stock worth $29,923,985 over the last quarter. Corporate insiders own 0.90% of the company's stock.

Hedge Funds Weigh In On CocaCola

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new stake in shares of CocaCola in the first quarter worth $25,000. 1248 Management LLC bought a new position in CocaCola during the first quarter valued at approximately $26,000. Garde Capital Inc. purchased a new position in shares of CocaCola in the 1st quarter worth $30,000. Mizuho Securities Co. Ltd. boosted its position in CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after purchasing an additional 360 shares during the last quarter. Finally, Ridgewood Investments LLC grew its position in CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock valued at $34,000 after buying an additional 285 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

CocaCola Company Profile

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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