Investors Buy Shares of Coca-Cola Co. (KO) on Weakness
Traders 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
A number of equities analysts have recently issued reports on the company. Vetr downgraded Coca-Cola from a “buy” rating to a “hold” rating and set a $48.28 price objective for the company. in a research report on Tuesday, April 19th. Zacks Investment Research upgraded Coca-Cola from a “sell” rating to a “hold” rating in a report on Friday, July 8th. Societe Generale set a $46.00 target price on Coca-Cola and gave the stock a “neutral” rating in a report on Thursday, April 28th. Susquehanna reiterated a “neutral” rating and issued a $41.00 target price on shares of Coca-Cola in a report on Thursday, March 31st. Finally, Citigroup Inc. lifted their target price on Coca-Cola from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, April 21st. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $47.63.
The firm has a 50-day moving average of $45.10 and a 200-day moving average of $44.43. The firm has a market cap of $197.40 billion and a price-to-earnings ratio of 27.47.
Coca-Cola (NYSE:KO) last released 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 had revenue of $10.30 billion for the quarter, compared to the consensus estimate of $10.28 billion. During the same period in the previous year, the company earned $0.48 EPS. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. Equities analysts expect 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. Shareholders of record on Wednesday, June 15th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend was Monday, June 13th.
In other 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 value of $25,916,847.00. Following the completion of the transaction, the executive vice president now owns 291,675 shares of the company’s stock, valued at approximately $13,198,293.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 completion of the transaction, the vice president now directly owns 52,465 shares of the company’s stock, valued at approximately $2,335,741.80. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently made changes to their positions in KO. Vanguard Group Inc. raised its position in shares of 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. Morgan Stanley raised its position in shares of Coca-Cola by 3.6% in the fourth quarter. Morgan Stanley now owns 15,781,727 shares of the company’s stock valued at $677,983,000 after buying an additional 553,607 shares in the last quarter. Agran Libbie raised its position in shares of 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. California Public Employees Retirement System raised its position in shares of Coca-Cola by 3.1% in the fourth quarter. California Public Employees Retirement System now owns 11,485,912 shares of the company’s stock valued at $493,435,000 after buying an additional 347,399 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Coca-Cola by 5.3% in the fourth quarter. Swiss National Bank now owns 8,865,690 shares of the company’s stock valued at $380,870,000 after buying an additional 449,500 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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