Traders Buy Coca-Cola Co. (KO) on Weakness
Traders bought shares of Coca-Cola Co. (NYSE:KO) on weakness during trading hours on Wednesday. $289.94 million flowed into the stock on the tick-up and $264.92 million flowed out of the stock on the tick-down, for a money net flow of $25.02 million into the stock. Of all equities tracked, Coca-Cola had the 10th highest net in-flow for the day. Coca-Cola traded down ($1.48) for the day and closed at $43.40
Several analysts have recently issued reports on the company. Susquehanna reaffirmed a “hold” rating on shares of Coca-Cola in a report on Sunday, July 17th. Stifel Nicolaus decreased their price objective on Coca-Cola from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday. Goldman Sachs Group Inc. set a $46.00 price objective on Coca-Cola and gave the stock a “neutral” rating in a report on Tuesday, July 12th. Zacks Investment Research raised Coca-Cola from a “sell” rating to a “hold” rating in a report on Friday, July 8th. Finally, Vetr cut Coca-Cola from a “buy” rating to a “hold” rating and set a $47.12 price objective on the stock. in a report on Tuesday, May 17th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $47.50.
The company has a market cap of $187.76 billion and a P/E ratio of 26.13. The firm’s 50 day moving average price is $45.16 and its 200 day moving average price is $44.59.
Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. The company had revenue of $11.50 billion for the quarter, compared to analyst estimates of $11.69 billion. During the same period last year, the firm posted $0.63 EPS. The business’s quarterly revenue was down 5.1% on a year-over-year basis. On average, analysts expect that Coca-Cola Co. will post $1.94 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Tuesday, September 13th.
In related news, 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 value of $25,916,847.00. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Brian John Smith sold 50,000 shares of the company’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $44.32, for a total value of $2,216,000.00. Following the completion of the sale, the insider now directly owns 70,947 shares of the company’s stock, valued at $3,144,371.04. The disclosure for this sale can be found here.
Several hedge funds have recently made changes to their positions in the stock. KBC Group NV boosted its stake in shares of Coca-Cola by 15.1% in the fourth quarter. KBC Group NV now owns 503,782 shares of the company’s stock worth $21,642,000 after buying an additional 66,028 shares during the period. Flippin Bruce & Porter Inc. boosted its stake in shares of Coca-Cola by 0.4% in the fourth quarter. Flippin Bruce & Porter Inc. now owns 109,099 shares of the company’s stock worth $4,687,000 after buying an additional 397 shares during the period. Rowland & Co. Investment Counsel ADV boosted its stake in shares of Coca-Cola by 0.6% in the fourth quarter. Rowland & Co. Investment Counsel ADV now owns 240,362 shares of the company’s stock worth $10,155,000 after buying an additional 1,416 shares during the period. Morningstar Investment Services LLC boosted its stake in shares of Coca-Cola by 8.3% in the fourth quarter. Morningstar Investment Services LLC now owns 956,522 shares of the company’s stock worth $41,092,000 after buying an additional 73,507 shares during the period. Finally, Argent Trust Co boosted its stake in shares of Coca-Cola by 0.3% in the third quarter. Argent Trust Co now owns 59,175 shares of the company’s stock worth $2,374,000 after buying an additional 165 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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