Coca-Cola (NYSE:KO) Stock Price Up 0.2% – Here’s What Happened

The Coca-Cola Company (NYSE:KO) rose 0.2% during mid-day trading on Tuesday . The company traded as high as $62.00 and last traded at $61.97. Approximately 2,335,230 shares were traded during trading, a decline of 82% from the average daily volume of 13,327,820 shares. The stock had previously closed at $61.86.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KO. Royal Bank of Canada upped their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Barclays dropped their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Morgan Stanley reduced their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, Truist Financial boosted their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.36.

Coca-Cola Trading Up 0.7 %

The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The firm has a market capitalization of $268.42 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 3.75 and a beta of 0.61. The business has a 50 day moving average of $68.43 and a 200 day moving average of $66.54.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter last year, the firm earned $0.74 EPS. Coca-Cola’s quarterly revenue was down .8% compared to the same quarter last year. As a group, research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.11%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is presently 80.17%.

Insiders Place Their Bets

In related news, EVP Lisa Chang sold 40,334 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the transaction, the executive vice president now owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. This trade represents a 35.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. This trade represents a 18.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 303,748 shares of company stock worth $20,677,431 over the last ninety days. 0.97% of the stock is currently owned by corporate insiders.

Institutional Trading of Coca-Cola

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Apella Capital LLC boosted its holdings in shares of Coca-Cola by 1.4% in the 3rd quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock valued at $748,000 after buying an additional 146 shares during the last quarter. Investment Advisory Group LLC increased its stake in shares of Coca-Cola by 4.5% during the 3rd quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock worth $243,000 after purchasing an additional 146 shares during the last quarter. Elwood & Goetz Wealth Advisory Group LLC raised its holdings in shares of Coca-Cola by 2.2% in the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after purchasing an additional 149 shares during the period. CCG Wealth Management LLC lifted its stake in Coca-Cola by 4.3% in the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock valued at $260,000 after purchasing an additional 149 shares during the last quarter. Finally, Investment Partners Asset Management Inc. increased its position in Coca-Cola by 2.2% during the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock worth $500,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

About Coca-Cola

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.