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

Shares of The Coca-Cola Company (NYSE:KO) were up 0.2% on Friday . The stock traded as high as $64.19 and last traded at $64.08. Approximately 2,759,197 shares changed hands during trading, a decline of 80% from the average daily volume of 13,514,761 shares. The stock had previously closed at $63.95.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on KO shares. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Truist Financial upped their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company upped their target price on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Barclays decreased their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, Morgan Stanley decreased their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.36.

Coca-Cola Trading Up 0.3 %

The firm has a fifty day simple moving average of $67.22 and a 200-day simple moving average of $66.56. The firm has a market cap of $276.43 billion, a P/E ratio of 26.48, a price-to-earnings-growth ratio of 3.91 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

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

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.02%. Coca-Cola’s dividend payout ratio is presently 80.17%.

Insider Activity

In other news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Cetera Advisors LLC increased its position in shares of Coca-Cola by 39.9% during the first quarter. Cetera Advisors LLC now owns 366,670 shares of the company’s stock valued at $22,433,000 after acquiring an additional 104,506 shares during the last quarter. Cetera Advisor Networks LLC increased its position in Coca-Cola by 4.1% in the first quarter. Cetera Advisor Networks LLC now owns 509,277 shares of the company’s stock worth $31,158,000 after buying an additional 19,985 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Coca-Cola by 16.1% in the first quarter. EverSource Wealth Advisors LLC now owns 12,419 shares of the company’s stock worth $767,000 after buying an additional 1,722 shares during the last quarter. OMC Financial Services LTD purchased a new stake in Coca-Cola in the first quarter worth $699,000. Finally, American Trust increased its position in Coca-Cola by 4.9% in the first quarter. American Trust now owns 13,683 shares of the company’s stock worth $837,000 after buying an additional 638 shares during the last quarter. Institutional investors 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.