Investors Buy Shares of Coca-Cola Co. (KO) on Weakness
Investors purchased shares of Coca-Cola Co. (NYSE:KO) on weakness during trading on Friday. $119.19 million flowed into the stock on the tick-up and $58.22 million flowed out of the stock on the tick-down, for a money net flow of $60.97 million into the stock. Of all companies tracked, Coca-Cola had the 4th highest net in-flow for the day. Coca-Cola traded down ($0.03) for the day and closed at $43.48
KO has been the topic of a number of analyst reports. Independent Research GmbH set a $38.00 target price on shares of Coca-Cola and gave the company a “sell” rating in a research note on Monday, August 1st. Deutsche Bank AG restated a “buy” rating on shares of Coca-Cola in a research note on Sunday, July 24th. SunTrust Banks Inc. restated a “buy” rating on shares of Coca-Cola in a research note on Sunday, July 31st. Goldman Sachs Group Inc. set a $46.00 target price on shares of Coca-Cola and gave the company a “neutral” rating in a research note on Tuesday, July 12th. Finally, Susquehanna restated a “hold” rating and set a $39.00 target price on shares of Coca-Cola in a research note on Sunday, June 5th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $47.12.
The stock has a market capitalization of $187.66 billion and a PE ratio of 25.02. The company has a 50-day moving average price of $44.79 and a 200-day moving average price of $44.63.
Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. During the same period last year, the company posted $0.63 earnings per share. The firm had revenue of $11.50 billion for the quarter, compared to analysts’ expectations of $11.69 billion. The business’s quarterly revenue was down 5.1% on a year-over-year basis. Equities analysts predict that Coca-Cola Co. will post $1.91 earnings per share 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 issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Tuesday, September 13th.
In other news, EVP J Alexander Douglas, Jr. sold 572,748 shares of the 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 directly owns 291,675 shares in the company, valued at $13,198,293.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Brian John Smith sold 50,000 shares of the stock in a transaction dated Thursday, May 19th. The shares were 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 disclosure for this sale can be found here.
Other large investors have modified their holdings of the company. 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. Legacy Capital Partners Inc. boosted its stake in shares of Coca-Cola by 0.4% in the fourth quarter. Legacy Capital Partners Inc. now owns 94,560 shares of the company’s stock worth $4,063,000 after buying an additional 363 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. Northstar Investment Advisors LLC boosted its stake in shares of Coca-Cola by 0.3% in the fourth quarter. Northstar Investment Advisors LLC now owns 156,382 shares of the company’s stock worth $6,718,000 after buying an additional 432 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its stake in shares of Coca-Cola by 0.6% in the fourth quarter. Ameritas Investment Partners Inc. now owns 74,524 shares of the company’s stock worth $3,201,000 after buying an additional 456 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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