Coca-Cola Co. (KO) Trading Down 3.4%
Coca-Cola Co. (NYSE:KO) traded down 3.4% during mid-day trading on Wednesday . The company traded as low as $43.19 and last traded at $43.37, with a volume of 22,974,368 shares changing hands. The stock had previously closed at $44.88.
A number of equities research analysts have issued reports on the stock. Vetr raised shares of Coca-Cola from a “sell” rating to a “hold” rating and set a $44.00 price objective for the company in a report on Monday, June 13th. Susquehanna reaffirmed a “hold” rating and set a $39.00 price objective on shares of Coca-Cola in a report on Sunday, June 5th. Jefferies Group set a $46.00 price objective on shares of Coca-Cola and gave the company a “neutral” rating in a report on Thursday, April 21st. Zacks Investment Research raised shares of Coca-Cola from a “sell” rating to a “hold” rating in a report on Friday, July 8th. Finally, Citigroup Inc. reaffirmed a “buy” rating on shares of Coca-Cola in a report on Sunday, May 22nd. 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 a consensus target price of $47.72.
The firm’s 50 day moving average is $45.16 and its 200-day moving average is $44.59. The stock has a market capitalization of $187.76 billion and a PE ratio of 26.13.
Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $11.50 billion for the quarter, compared to analysts’ expectations of $11.69 billion. During the same quarter in the prior year, the business earned $0.63 EPS. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. Analysts anticipate that Coca-Cola Co. will post $1.94 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.40 dividend on an annualized basis and a yield of 3.23%.
In related news, insider Brian John Smith sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $44.32, for a total transaction of $2,216,000.00. Following the transaction, the insider now owns 70,947 shares in the company, valued at approximately $3,144,371.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP J Alexander Douglas, Jr. sold 572,748 shares of the firm’s 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 transaction, 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.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. WMS Partners LLC increased its position in Coca-Cola by 3.0% in the fourth quarter. WMS Partners LLC now owns 29,798 shares of the company’s stock worth $1,280,000 after buying an additional 858 shares in the last quarter. Whitnell & Co. increased its position in shares of Coca-Cola by 12.7% in the fourth quarter. Whitnell & Co. now owns 43,363 shares of the company’s stock valued at $1,863,000 after buying an additional 4,870 shares during the period. MetLife Securities Inc increased its position in shares of Coca-Cola by 164.3% in the fourth quarter. MetLife Securities Inc now owns 170,613 shares of the company’s stock valued at $7,330,000 after buying an additional 106,057 shares during the period. Bollard Group LLC increased its position in shares of Coca-Cola by 1.6% in the fourth quarter. Bollard Group LLC now owns 52,262 shares of the company’s stock valued at $2,245,000 after buying an additional 812 shares during the period. Finally, Stonebridge Capital Advisors LLC increased its position in shares of Coca-Cola by 2.3% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 156,337 shares of the company’s stock valued at $6,716,000 after buying an additional 3,444 shares during the period.
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets over 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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