The Coca-Cola Company (NYSE:KO) Sees Large Growth in Short Interest

The Coca-Cola Company (NYSE:KO) was the recipient of a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 42,890,000 shares, an increase of 44.9% from the January 31st total of 29,590,000 shares. Based on an average daily volume of 17,730,000 shares, the short-interest ratio is presently 2.4 days. Approximately 1.0% of the company’s shares are sold short.

Insider Transactions at Coca-Cola

In other news, insider Bruno Pietracci sold 19,058 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James Quincey sold 145,435 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $24,324,191.46. The trade was a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 232,646 shares of company stock valued at $16,515,469. Company insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Peachtree Investment Partners LLC increased its holdings in shares of Coca-Cola by 1.4% during the fourth quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company’s stock valued at $697,000 after acquiring an additional 157 shares in the last quarter. Fort Sheridan Advisors LLC increased its stake in Coca-Cola by 3.3% during the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock valued at $311,000 after purchasing an additional 161 shares in the last quarter. Excalibur Management Corp increased its stake in Coca-Cola by 0.6% during the 4th quarter. Excalibur Management Corp now owns 29,412 shares of the company’s stock valued at $1,831,000 after purchasing an additional 161 shares in the last quarter. Wells Trecaso Financial Group LLC raised its holdings in shares of Coca-Cola by 4.8% in the fourth quarter. Wells Trecaso Financial Group LLC now owns 3,616 shares of the company’s stock worth $225,000 after buying an additional 164 shares during the last quarter. Finally, Atlas Brown Inc. lifted its stake in shares of Coca-Cola by 0.8% during the fourth quarter. Atlas Brown Inc. now owns 21,024 shares of the company’s stock worth $1,309,000 after buying an additional 166 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Down 3.1 %

KO stock traded down $2.24 during trading on Tuesday, hitting $70.08. 25,403,347 shares of the company’s stock traded hands, compared to its average volume of 17,479,994. The firm has a market capitalization of $301.40 billion, a P/E ratio of 28.37, a PEG ratio of 3.79 and a beta of 0.61. Coca-Cola has a 1 year low of $57.93 and a 1 year high of $73.53. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The business has a fifty day simple moving average of $64.73 and a two-hundred day simple moving average of $66.52.

Coca-Cola (NYSE:KO) last released 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%. Sell-side analysts anticipate that Coca-Cola will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Friday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio is currently 82.59%.

Analyst Ratings Changes

KO has been the subject of several research reports. DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Thursday, February 13th. Evercore ISI boosted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Piper Sandler boosted their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. lowered their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.24.

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.