Coca-Cola (NYSE:KO) Stock Price Down 0.1% – Here’s Why

Shares of The Coca-Cola Company (NYSE:KO) were down 0.1% during trading on Tuesday . The stock traded as low as $68.65 and last traded at $68.86. Approximately 2,733,383 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 14,072,904 shares. The stock had previously closed at $68.95.

Analyst Ratings Changes

KO has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Barclays boosted their price objective on Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $74.24.

Coca-Cola Trading Up 0.9 %

The company has a market capitalization of $304.09 billion, a PE ratio of 28.57, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The company has a 50 day simple moving average of $67.45 and a 200 day simple moving average of $66.43. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a yield of 2.89%. Coca-Cola’s payout ratio is presently 82.59%.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 145,435 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $24,324,191.46. This trade represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lisa Chang sold 13,445 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total value of $961,317.50. Following the transaction, the executive vice president now directly owns 94,676 shares in the company, valued at $6,769,334. This trade represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 313,423 shares of company stock worth $22,263,071. Insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Coca-Cola

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Crowley Wealth Management Inc. purchased a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $27,000. Mainstream Capital Management LLC purchased a new position in Coca-Cola in the fourth quarter worth approximately $31,000. REAP Financial Group LLC increased its stake in Coca-Cola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after acquiring an additional 208 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in Coca-Cola in the fourth quarter valued at $38,000. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Coca-Cola during the 4th quarter worth $37,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

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.