Traders Buy Shares of 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 firms recently commented on KO. Royal Bank Of Canada restated a “buy” rating and set a $51.00 target price on shares of Coca-Cola in a research report on Wednesday, April 13th. Bank of America Corp. restated a “buy” rating and set a $52.00 target price on shares of Coca-Cola in a research report on Tuesday, April 12th. Vetr cut Coca-Cola from a “buy” rating to a “hold” rating and set a $48.28 target price for the company. in a research report on Tuesday, April 19th. Zacks Investment Research raised Coca-Cola from a “sell” rating to a “hold” rating in a research note on Tuesday, April 12th. Finally, Susquehanna reaffirmed a “hold” rating and set a $41.00 price target on shares of Coca-Cola in a research note on Thursday, April 14th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $47.12.
The firm has a 50 day moving average of $44.79 and a 200-day moving average of $44.63. The company has a market cap of $187.66 billion and a P/E ratio of 25.02.
Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. During the same quarter in the prior year, the business posted $0.63 EPS. The company earned $11.50 billion during the quarter, compared to analysts’ expectations of $11.69 billion. The company’s revenue was down 5.1% on a year-over-year basis. Analysts forecast that Coca-Cola Co. will post $1.91 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be given a $0.35 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $1.40 annualized dividend and a yield of 3.22%.
In other Coca-Cola news, EVP J Alexander Douglas, Jr. sold 572,748 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 291,675 shares of the company’s stock, valued at $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 firm’s stock in a transaction dated 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 directly owns 70,947 shares of the company’s stock, valued at approximately $3,144,371.04. The disclosure for this sale can be found here.
A number of hedge funds have recently made changes to their positions in KO. Callahan Advisors LLC increased its stake in shares of Coca-Cola by 5.7% in the fourth quarter. Callahan Advisors LLC now owns 45,190 shares of the company’s stock valued at $1,941,000 after buying an additional 2,439 shares during the last quarter. Alps Advisors Inc. purchased a new stake in shares of Coca-Cola during the fourth quarter valued at about $19,904,000. OppenheimerFunds Inc. increased its stake in shares of 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 during the last quarter. Novare Capital Management LLC increased its stake in shares of 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 during the last quarter. Finally, CG Asset Management LLC increased its stake in shares of Coca-Cola by 30.5% in the fourth quarter. CG Asset Management LLC now owns 46,755 shares of the company’s stock valued at $2,009,000 after buying an additional 10,925 shares during the last quarter.
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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