Traders Sell Coca-Cola Co. (KO) on Strength (KO)
Traders sold shares of Coca-Cola Co. (NYSE:KO) on strength during trading hours on Friday. $61.78 million flowed into the stock on the tick-up and $85.59 million flowed out of the stock on the tick-down, for a money net flow of $23.81 million out of the stock. Of all companies tracked, Coca-Cola had the 0th highest net out-flow for the day. Coca-Cola traded up $0.29 for the day and closed at $45.38
A number of equities analysts recently commented on KO shares. Susquehanna restated a “hold” rating and set a $39.00 target price 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 objective for the company. in a research note on Monday, April 4th. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $46.00 price objective on shares of Coca-Cola in a research note on Wednesday, March 16th. Sanford C. Bernstein set a $50.00 price objective on Coca-Cola and gave the company a “buy” rating in a research note on Thursday, April 14th. Finally, Bank of America Corp. reiterated a “buy” rating and issued a $52.00 price objective on shares of Coca-Cola in a research note on Tuesday, April 12th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $47.58.
The company 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 quarterly earnings results on Wednesday, April 20th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The business earned $10.30 billion during the quarter, compared to analysts’ expectations of $10.28 billion. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 EPS. On average, equities research analysts forecast that Coca-Cola Co. will post $1.94 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Wednesday, June 15th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend was Monday, June 13th.
In other Coca-Cola news, EVP J Alexander Douglas, Jr. sold 572,748 shares of the stock in a transaction that occurred on Monday, June 20th. The stock was sold at an average price of $45.25, for a total transaction of $25,916,847.00. Following the transaction, the executive vice president now owns 291,675 shares of the company’s stock, valued at approximately $13,198,293.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Larry M. Mark sold 28,000 shares of the stock in a transaction that occurred on Monday, April 25th. The stock was sold at an average price of $44.52, for a total value of $1,246,560.00. Following the transaction, the vice president now directly owns 52,465 shares in the company, valued at approximately $2,335,741.80. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently added to or reduced their stakes in the company. Savant Capital LLC increased its position in Coca-Cola by 12.6% in the fourth quarter. Savant Capital LLC now owns 24,308 shares of the company’s stock worth $1,044,000 after buying an additional 2,727 shares in the last quarter. Court Place Advisors LLC increased its position in Coca-Cola by 0.3% in the fourth quarter. Court Place Advisors LLC now owns 24,531 shares of the company’s stock worth $1,054,000 after buying an additional 63 shares in the last quarter. Security National Bank of SO Dak increased its position in Coca-Cola by 5.2% in the fourth quarter. Security National Bank of SO Dak now owns 25,567 shares of the company’s stock worth $1,099,000 after buying an additional 1,266 shares in the last quarter. IFC Holdings Incorporated FL increased its position in Coca-Cola by 5.6% in the fourth quarter. IFC Holdings Incorporated FL now owns 26,770 shares of the company’s stock worth $1,152,000 after buying an additional 1,413 shares in the last quarter. Finally, Hodges Capital Management Inc. increased its position in Coca-Cola by 6.3% in the fourth quarter. Hodges Capital Management Inc. now owns 27,660 shares of the company’s stock worth $1,188,000 after buying an additional 1,638 shares in the last quarter.
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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