Investors Buy Coca-Cola Co. (KO) on Weakness
Traders bought shares of Coca-Cola Co. (NYSE:KO) on weakness during trading on Thursday. $64.51 million flowed into the stock on the tick-up and $39.77 million flowed out of the stock on the tick-down, for a money net flow of $24.74 million into the stock. Of all stocks tracked, Coca-Cola had the 11th highest net in-flow for the day. Coca-Cola traded down ($0.05) for the day and closed at $45.69
KO has been the subject of several research analyst reports. Sanford C. Bernstein set a $50.00 price objective on Coca-Cola and gave the company a “buy” rating in a report on Thursday, April 14th. Vetr lowered Coca-Cola from a “buy” rating to a “hold” rating and set a $48.28 price objective for the company. in a report on Tuesday, April 19th. Jefferies Group set a $46.00 price objective on Coca-Cola and gave the company a “neutral” rating in a report on Thursday, April 21st. Citigroup Inc. boosted their price objective on Coca-Cola from $49.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, April 21st. Finally, Susquehanna reaffirmed a “neutral” rating and set a $39.00 target price on shares of Coca-Cola in a report on Saturday, April 23rd. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Coca-Cola currently has an average rating of “Hold” and an average price target of $47.63.
The stock has a market capitalization of $197.66 billion and a PE ratio of 27.51. The firm has a 50 day moving average price of $45.07 and a 200-day moving average price of $44.42.
Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, April 20th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. During the same period in the prior year, the business earned $0.48 earnings per share. The firm had revenue of $10.30 billion for the quarter, compared to the consensus estimate of $10.28 billion. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. Analysts predict that Coca-Cola Co. will post $1.94 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Wednesday, June 15th were given a dividend of $0.35 per share. The ex-dividend date was Monday, June 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.06%.
In other news, VP Larry M. Mark sold 28,000 shares of Coca-Cola stock in a transaction on Monday, April 25th. The shares were sold at an average price of $44.52, for a total transaction of $1,246,560.00. Following the transaction, the vice president now directly owns 52,465 shares of the company’s stock, valued at $2,335,741.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP J Alexander Douglas, Jr. sold 572,748 shares of Coca-Cola stock in a transaction 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 directly owns 291,675 shares in the company, valued at $13,198,293.75. The disclosure for this sale can be found here.
Several institutional investors have recently made changes to their positions in KO. Savant Capital LLC boosted its position in shares of 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 boosted its position in shares of 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 boosted its position in shares of 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 boosted its position in shares of 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. boosted its position in shares of 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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