Coca-Cola (NYSE:KO) Trading 0.9% Higher – Time to Buy?

The Coca-Cola Company (NYSE:KO) shares rose 0.9% on Thursday . The company traded as high as $70.93 and last traded at $70.65. Approximately 2,695,995 shares changed hands during trading, a decline of 81% from the average daily volume of 14,022,825 shares. The stock had previously closed at $70.02.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Piper Sandler upped their price objective on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Wells Fargo & Company lifted their target price on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Evercore ISI upped their price target on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and an average price target of $74.24.

Coca-Cola Stock Performance

The business’s fifty day moving average price is $67.77 and its two-hundred day moving average price is $66.45. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The stock has a market capitalization of $302.80 billion, a P/E ratio of 28.49, a P/E/G ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. As a group, sell-side analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.90%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s payout ratio is presently 82.59%.

Insiders Place Their Bets

In other Coca-Cola news, EVP Lisa Chang sold 13,445 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were 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 represents a 12.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. Insiders sold a total of 313,423 shares of company stock valued at $22,263,071 over the last 90 days. Insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Coca-Cola

Hedge funds and other institutional investors have recently made changes to their positions in the company. Crowley Wealth Management Inc. purchased a new stake in Coca-Cola in the fourth quarter worth about $27,000. Mainstream Capital Management LLC bought a new stake in shares of Coca-Cola in the 4th quarter valued at about $31,000. REAP Financial Group LLC lifted its position in shares of Coca-Cola by 57.5% in the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after purchasing an additional 208 shares during the period. Retirement Wealth Solutions LLC bought a new position in shares of Coca-Cola during the fourth quarter valued at approximately $37,000. Finally, Murphy & Mullick Capital Management Corp purchased a new position in Coca-Cola during the fourth quarter valued at approximately $38,000. 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.