Insider Selling: Coca-Cola (NYSE:KO) EVP Sells 67,548 Shares of Company Stock

Key Points

• Coca-Cola EVP Beatriz Perez sold 67,548 shares for about $6.41 million, reducing her direct ownership by 29.63%; the sale covered tax withholding tied to vested equity awards.
• The company beat quarterly estimates, reporting EPS of $0.91 versus $0.88 expected and revenue of $13.35 billion, up 7.2% year over year.
• Coca-Cola declared a quarterly dividend of $0.53 per share, equivalent to an annualized $2.12 dividend and 2.2% yield; analysts’ consensus rating was “Moderate Buy,” with a $97.26 target price.

Coca-Cola Company (The) (NYSE:KO - Get Free Report) EVP Beatriz Perez sold 67,548 shares of the company's stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $94.91, for a total value of $6,410,980.68. Following the sale, the executive vice president directly owned 160,428 shares of the company's stock, valued at approximately $15,226,221.48. This represents a 29.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Coca-Cola Trading Up 1.0%

Shares of NYSE:KO traded up $0.96 during midday trading on Wednesday, reaching $95.76. The company had a trading volume of 12,539,387 shares, compared to its average volume of 16,909,449. The company has a fifty day simple moving average of $89.63 and a two-hundred day simple moving average of $82.31. The firm has a market cap of $411.95 billion, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 3.74 and a beta of 0.28. Coca-Cola Company has a 1-year low of $67.27 and a 1-year high of $96.39. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.19 and a current ratio of 1.38.

Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. Coca-Cola had a return on equity of 38.79% and a net margin of 28.65%. The firm had revenue of $13.35 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the previous year, the company earned $0.82 EPS. The business's revenue for the quarter was up 7.2% compared to the same quarter last year. Research analysts predict that Coca-Cola Company will post 3.34 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be issued a dividend of $0.53 per share. The ex-dividend date is Tuesday, December 1st. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.2%. Coca-Cola's payout ratio is currently 62.35%.

Coca-Cola News Roundup

Here are the key news stories impacting Coca-Cola this week:

• Positive Sentiment: Commentary highlights Coca-Cola’s pricing power amid inflation, suggesting it can raise prices to help offset higher costs. Coca-Cola Is Exercising its Pricing Power as Inflation Persists
• Positive Sentiment: Jim Cramer said he would still buy KO even as it trades near a record. The article also underscores Berkshire Hathaway’s substantial annual dividend income from its long-held Coca-Cola investment, reinforcing the company’s appeal to income-focused investors. Coca-Cola Pays Warren Buffett’s Berkshire $848 Million a Year as Jim Cramer Says Buy KO Stock
• Positive Sentiment: Coverage emphasizes Coca-Cola’s 64-year streak of annual dividend increases, supporting its reputation as a reliable defensive holding. Meet the Dividend Stock That Warren Buffett Backed for Decades
• Neutral Sentiment: KO is receiving elevated investor attention, but the “trending stock” coverage does not identify a specific new earnings or business development driving that interest. KO Is a Trending Stock
• Negative Sentiment: Some analysis characterizes KO as a “shelter” investment rather than a growth stock. With shares near a record, investors may also weigh limited growth prospects against the valuation. Coca-Cola: Investors Are Buying Shelter, Not Growth

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on KO shares. Freedom Broker raised their price objective on shares of Coca-Cola from $85.00 to $89.00 and gave the stock a "hold" rating in a research note on Wednesday, October 28th. Evercore restated an "outperform" rating and issued a $100.00 target price (up from $88.00) on shares of Coca-Cola in a report on Tuesday, July 28th. Morgan Stanley lifted their price target on Coca-Cola from $100.00 to $103.00 and gave the company an "overweight" rating in a report on Wednesday, October 28th. Seaport Research Partners set a $95.00 price target on Coca-Cola in a research report on Friday, August 14th. Finally, TD Cowen upped their price target on Coca-Cola from $100.00 to $104.00 and gave the company a "buy" rating in a research report on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $97.26.

Hedge Funds Weigh In On Coca-Cola

Institutional investors and hedge funds have recently modified their holdings of the stock. Banco Santander S.A. raised its holdings in Coca-Cola by 3.1% during the second quarter. Banco Santander S.A. now owns 1,090,758 shares of the company's stock worth $88,646,000 after buying an additional 32,723 shares during the last quarter. CX Institutional grew its holdings in shares of Coca-Cola by 402.3% during the third quarter. CX Institutional now owns 163,248 shares of the company's stock valued at $14,052,000 after buying an additional 130,746 shares during the last quarter. Daymark Wealth Partners LLC grew its holdings in shares of Coca-Cola by 68.5% during the second quarter. Daymark Wealth Partners LLC now owns 218,199 shares of the company's stock valued at $17,733,000 after buying an additional 88,690 shares during the last quarter. Moore Capital Management LP bought a new stake in shares of Coca-Cola during the second quarter worth about $12,905,000. Finally, Cidel Asset Management Inc. increased its position in shares of Coca-Cola by 2,091.3% during the second quarter. Cidel Asset Management Inc. now owns 361,934 shares of the company's stock worth $29,414,000 after acquiring an additional 345,417 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Company Profile

The Coca-Cola Company NYSE: KO is a global beverage company headquartered in Atlanta, Georgia. Founded in 1886, it is best known for Coca-Cola, one of the world’s most recognized soft drink brands.

The company owns, licenses, and markets a broad portfolio of beverages, including sparkling soft drinks, water, sports drinks, coffee, tea, juice, dairy and plant-based beverages, and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, Dasani, smartwater, Powerade, Minute Maid, Simply, fairlife, and Costa Coffee, among others.

The Coca-Cola Company serves consumers in more than 200 countries and territories through a system that includes company-operated operations, independent bottling partners, distributors, retailers, and food-service providers.

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