Investors Buy Coca-Cola Co. (KO) on Weakness
Traders bought shares of Coca-Cola Co. (NYSE:KO) on weakness during trading hours on Thursday. $83.06 million flowed into the stock on the tick-up and $51.25 million flowed out of the stock on the tick-down, for a money net flow of $31.81 million into the stock. Of all stocks tracked, Coca-Cola had the 11th highest net in-flow for the day. Coca-Cola traded down ($0.18) for the day and closed at $45.09
Several research firms recently issued reports on KO. Susquehanna reiterated a “hold” rating and issued a $39.00 price target on shares of Coca-Cola in a report on Sunday, June 5th. Vetr cut Coca-Cola from a “hold” rating to a “sell” rating and set a $45.44 price target on the stock. in a report on Monday, April 4th. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $46.00 price target on shares of Coca-Cola in a report on Wednesday, March 16th. Sanford C. Bernstein set a $50.00 price target on Coca-Cola and gave the company a “buy” rating in a report on Thursday, April 14th. Finally, Bank of America Corp. restated a “buy” rating and set a $52.00 target price on shares of Coca-Cola in a report on Tuesday, April 12th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $47.58.
The stock has a market cap of $196.32 billion and a price-to-earnings ratio of 27.32. The stock’s 50 day moving average price is $44.90 and its 200 day moving average price is $44.36.
Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, April 20th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The firm earned $10.30 billion during the quarter, compared to analyst estimates of $10.28 billion. Coca-Cola’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 EPS. On average, equities research analysts expect that Coca-Cola Co. will post $1.94 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Wednesday, June 15th were issued a $0.35 dividend. The ex-dividend date was Monday, June 13th. This represents a $1.40 dividend on an annualized basis and a yield of 3.09%.
In other Coca-Cola news, insider Brian John Smith sold 50,000 shares of the company’s stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $44.32, for a total value of $2,216,000.00. Following the sale, the insider now owns 70,947 shares in the company, valued at approximately $3,144,371.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP J Alexander Douglas, Jr. sold 572,748 shares of the company’s stock in a transaction dated Monday, June 20th. The shares were sold at an average price of $45.25, for a total value of $25,916,847.00. Following the completion of the sale, the executive vice president now owns 291,675 shares in the company, valued at approximately $13,198,293.75. The disclosure for this sale can be found here.
Several large investors recently added to or reduced their stakes in KO. Chemung Canal Trust Co. raised its stake in Coca-Cola by 42.3% in the fourth quarter. Chemung Canal Trust Co. now owns 300,406 shares of the company’s stock worth $12,905,000 after buying an additional 89,320 shares during the period. Vanguard Group Inc. raised its stake in Coca-Cola by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 262,031,119 shares of the company’s stock worth $11,256,857,000 after buying an additional 6,298,427 shares during the period. Boston Family Office LLC raised its stake in Coca-Cola by 1.1% in the fourth quarter. Boston Family Office LLC now owns 89,560 shares of the company’s stock worth $3,847,000 after buying an additional 1,003 shares during the period. Trust Co. of Vermont raised its stake in Coca-Cola by 1.5% in the fourth quarter. Trust Co. of Vermont now owns 90,773 shares of the company’s stock worth $3,900,000 after buying an additional 1,377 shares during the period. Finally, Reik & CO. LLC raised its stake in Coca-Cola by 2.4% in the fourth quarter. Reik & CO. LLC now owns 88,330 shares of the company’s stock worth $3,794,000 after buying an additional 2,030 shares during the period.
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets more than 500 nonalcoholic beverage brands, primarily sparkling beverages but also a range of still beverages, such as waters, enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks.
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