Investors Buy Shares of Coca-Cola Co. (KO) on Weakness
Traders bought shares of Coca-Cola Co. (NYSE:KO) on weakness during trading on Monday. $87.78 million flowed into the stock on the tick-up and $48.09 million flowed out of the stock on the tick-down, for a money net flow of $39.69 million into the stock. Of all stocks tracked, Coca-Cola had the 10th highest net in-flow for the day. Coca-Cola traded down ($0.04) for the day and closed at $43.44
A number of analysts recently issued reports on KO shares. Independent Research GmbH set a $38.00 target price on Coca-Cola and gave the company a “sell” rating in a research report on Monday, August 1st. Deutsche Bank AG reissued a “buy” rating on shares of Coca-Cola in a research report on Sunday, July 24th. SunTrust Banks Inc. reissued a “buy” rating on shares of Coca-Cola in a research report on Sunday, July 31st. Goldman Sachs Group Inc. set a $46.00 price target on Coca-Cola and gave the stock a “neutral” rating in a research report on Tuesday, July 12th. Finally, Susquehanna reissued a “hold” rating and set a $39.00 price target on shares of Coca-Cola in a research report on Sunday, June 5th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $47.02.
The stock has a market capitalization of $187.49 billion and a P/E ratio of 24.99. The company’s 50-day moving average price is $44.76 and its 200 day moving average price is $44.69.
Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. During the same quarter in the previous year, the business earned $0.63 EPS. The company had revenue of $11.50 billion for the quarter, compared to analysts’ expectations of $11.69 billion. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, equities analysts predict 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. Stockholders 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 annualized dividend and a dividend yield of 3.22%.
In related news, EVP J Alexander Douglas, Jr. sold 572,748 shares of Coca-Cola stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 291,675 shares in the company, valued at approximately $13,198,293.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian John Smith sold 50,000 shares of Coca-Cola stock in a transaction that occurred on 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 transaction, 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.
A number of hedge funds and institutional investors have added to or reduced their stakes in KO. Hodges Capital Management Inc. raised its position in Coca-Cola by 6.3% in the fourth quarter. Hodges Capital Management Inc. now owns 27,660 shares of the company’s stock worth $1,188,000 after buying an additional 1,638 shares in the last quarter. Home Federal Bank of Tennessee acquired a new position in Coca-Cola during the fourth quarter worth $1,248,000. Pittenger & Anderson Inc. raised its position in Coca-Cola by 4.8% in the fourth quarter. Pittenger & Anderson Inc. now owns 29,590 shares of the company’s stock worth $1,271,000 after buying an additional 1,350 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Coca-Cola during the fourth quarter worth $1,409,000. Finally, Bragg Financial Advisors Inc raised its position in Coca-Cola by 12.5% in the fourth quarter. Bragg Financial Advisors Inc now owns 33,042 shares of the company’s stock worth $1,419,000 after buying an additional 3,670 shares in 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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