Investors Buy Shares of Coca-Cola Co. (KO) on Weakness
Investors bought shares of Coca-Cola Co. (NYSE:KO) on weakness during trading on Friday. $145.54 million flowed into the stock on the tick-up and $52.83 million flowed out of the stock on the tick-down, for a money net flow of $92.71 million into the stock. Of all stocks tracked, Coca-Cola had the 15th highest net in-flow for the day. Coca-Cola traded down ($0.06) for the day and closed at $45.63
KO has been the subject of a number of research reports. Citigroup Inc. increased their price target on shares of Coca-Cola from $49.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, April 21st. Vetr upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $47.67 price objective for the company in a research note on Thursday, April 14th. Sanford C. Bernstein set a $50.00 price objective on shares of Coca-Cola and gave the company a “buy” rating in a research note on Thursday, April 14th. Royal Bank Of Canada restated a “buy” rating and issued a $51.00 price objective on shares of Coca-Cola in a research note on Wednesday, April 13th. Finally, Bank of America Corp. restated a “buy” rating and issued a $52.00 price objective on shares of Coca-Cola in a research note on Tuesday, April 12th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $47.63.
The firm has a market cap of $197.40 billion and a P/E ratio of 27.47. The stock’s 50-day moving average is $45.10 and its 200 day moving average is $44.43.
Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, April 20th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.01. The business earned $10.30 billion during the quarter, compared to the consensus estimate of $10.28 billion. The company’s revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.48 EPS. On average, equities research analysts expect that Coca-Cola Co. will post $1.94 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Wednesday, June 15th were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, June 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.07%.
In related news, VP Larry M. Mark sold 28,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the vice president now owns 52,465 shares of the company’s stock, valued at $2,335,741.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP J Alexander Douglas, Jr. sold 572,748 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 291,675 shares of the company’s stock, valued at approximately $13,198,293.75. The disclosure for this sale can be found here.
A number of large investors have recently bought and sold shares of KO. Agran Libbie boosted its stake in Coca-Cola by 9,727.2% in the fourth quarter. Agran Libbie now owns 13,669,679 shares of the company’s stock valued at $5,872,000 after buying an additional 13,530,579 shares in the last quarter. Vanguard Group Inc. boosted 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 valued at $11,256,857,000 after buying an additional 6,298,427 shares in the last quarter. First Trust Advisors LP boosted its stake in Coca-Cola by 65.2% in the fourth quarter. First Trust Advisors LP now owns 1,755,365 shares of the company’s stock valued at $75,410,000 after buying an additional 692,855 shares in the last quarter. OppenheimerFunds Inc. boosted its stake in Coca-Cola by 60.5% in the fourth quarter. OppenheimerFunds Inc. now owns 1,823,862 shares of the company’s stock valued at $78,390,000 after buying an additional 687,626 shares in the last quarter. Finally, Arcus Capital Partners LLC purchased a new stake in Coca-Cola during the fourth quarter valued at $28,104,000.
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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