Traders Buy Coca-Cola Co. (KO) on Weakness
Traders purchased shares of Coca-Cola Co. (NYSE:KO) on weakness during trading on Thursday. $97.55 million flowed into the stock on the tick-up and $81.40 million flowed out of the stock on the tick-down, for a money net flow of $16.15 million into the stock. Of all stocks tracked, Coca-Cola had the 11th highest net in-flow for the day. Coca-Cola traded down ($0.13) for the day and closed at $43.51
Several research analysts have recently commented on KO shares. Sanford C. Bernstein set a $50.00 target price on Coca-Cola and gave the stock a “buy” rating in a research note on Thursday, April 14th. Vetr downgraded Coca-Cola from a “buy” rating to a “hold” rating and set a $48.28 target price for the company. in a research note on Tuesday, April 19th. Jefferies Group set a $46.00 target price on Coca-Cola and gave the stock a “neutral” rating in a research note on Thursday, April 21st. Citigroup Inc. lifted their target price on Coca-Cola from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, April 21st. Finally, Susquehanna restated a “neutral” rating and issued a $39.00 price target on shares of Coca-Cola in a research note on Saturday, April 23rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Coca-Cola presently has a consensus rating of “Hold” and a consensus target price of $47.12.
The firm’s 50 day moving average is $44.85 and its 200 day moving average is $44.64. The company has a market capitalization of $187.79 billion and a P/E ratio of 25.03.
Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. The company earned $11.50 billion during the quarter, compared to the consensus estimate of $11.69 billion. During the same period in the previous year, the business earned $0.63 earnings per share. Coca-Cola’s revenue was down 5.1% on a year-over-year basis. Equities analysts expect that Coca-Cola Co. will post $1.91 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Tuesday, September 13th.
In related news, insider Brian John Smith sold 50,000 shares of Coca-Cola stock in a transaction 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 completion of the sale, the insider now owns 70,947 shares of the company’s stock, valued at $3,144,371.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP J Alexander Douglas, Jr. sold 572,748 shares of Coca-Cola stock in a transaction on Monday, June 20th. The shares were sold at an average price of $45.25, for a total value 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 bought and sold shares of KO. Hodges Capital Management Inc. raised its stake in Coca-Cola by 6.3% in the fourth quarter. Hodges Capital Management Inc. now owns 27,660 shares of the company’s stock valued at $1,188,000 after buying an additional 1,638 shares in the last quarter. Novare Capital Management LLC raised its stake in Coca-Cola by 2.3% in the fourth quarter. Novare Capital Management LLC now owns 28,481 shares of the company’s stock valued at $1,224,000 after buying an additional 650 shares in the last quarter. Home Federal Bank of Tennessee acquired a new stake in Coca-Cola during the fourth quarter valued at about $1,248,000. Pittenger & Anderson Inc. raised its stake in Coca-Cola by 4.8% in the fourth quarter. Pittenger & Anderson Inc. now owns 29,590 shares of the company’s stock valued at $1,271,000 after buying an additional 1,350 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Coca-Cola during the fourth quarter valued at about $1,409,000.
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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