Coca-Cola (NYSE:KO) Stock Price Up 0.6% – Here’s What Happened

Shares of The Coca-Cola Company (NYSE:KO) shot up 0.6% on Monday . The stock traded as high as $64.71 and last traded at $64.30. 2,747,157 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 13,411,657 shares. The stock had previously closed at $63.92.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Wells Fargo & Company lifted their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Truist Financial raised their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Finally, Morgan Stanley reduced their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.36.

Coca-Cola Price Performance

The firm has a 50-day moving average of $67.79 and a 200 day moving average of $66.57. 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 company has a market capitalization of $277.34 billion, a PE ratio of 26.57, a PEG ratio of 3.88 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its 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 company had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter last year, the company posted $0.74 earnings per share. As a group, research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.01%. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This trade represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. 0.97% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coca-Cola

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

Coca-Cola Company Profile

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.