Traders Buy Coca-Cola Co. (KO) on Weakness
Traders bought shares of Coca-Cola Co. (NYSE:KO) on weakness during trading on Friday. $127.00 million flowed into the stock on the tick-up and $44.88 million flowed out of the stock on the tick-down, for a money net flow of $82.12 million into the stock. Of all stocks tracked, Coca-Cola had the 4th highest net in-flow for the day. Coca-Cola traded down ($0.18) for the day and closed at $43.92
A number of equities analysts recently commented on the company. Susquehanna restated a “neutral” rating and set a $39.00 target price on shares of Coca-Cola in a report on Saturday, April 23rd. Societe Generale set a $46.00 target price on Coca-Cola and gave the company a “neutral” rating in a report on Thursday, April 28th. Vetr cut Coca-Cola from a “buy” rating to a “hold” rating and set a $47.21 target price for the company. in a report on Tuesday, May 10th. Citigroup Inc. restated a “buy” rating on shares of Coca-Cola in a report on Sunday, May 22nd. Finally, Zacks Investment Research upgraded Coca-Cola from a “sell” rating to a “hold” rating in a report on Thursday, June 23rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. Coca-Cola has a consensus rating of “Hold” and a consensus price target of $46.90.
The stock’s 50-day moving average price is $44.56 and its 200-day moving average price is $44.76. The company has a market cap of $189.56 billion and a price-to-earnings ratio of 25.27.
Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. During the same period in the previous year, the company earned $0.63 EPS. The company earned $11.50 billion during the quarter, compared to analysts’ expectations of $11.69 billion. Coca-Cola’s quarterly revenue was down 5.1% on a year-over-year basis. On average, equities research analysts forecast that Coca-Cola Co. will post $1.91 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.19%. 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 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website.
Other hedge funds and institutional investors have modified their holdings of the company. Morgan Stanley increased its position in shares of Coca-Cola by 3.6% in the fourth quarter. Morgan Stanley now owns 15,781,727 shares of the company’s stock worth $677,983,000 after buying an additional 553,607 shares in the last quarter. LLBH Private Wealth Management LLC purchased a new position in Coca-Cola during the fourth quarter worth approximately $1,593,000. BHF Kleinwort Benson Group S.A. purchased a new position in Coca-Cola during the fourth quarter worth approximately $14,057,000. Howland Capital Management LLC increased its position in Coca-Cola by 3.6% in the fourth quarter. Howland Capital Management LLC now owns 68,281 shares of the company’s stock worth $2,933,000 after buying an additional 2,380 shares in the last quarter. Finally, Haverford Trust Co. increased its position in Coca-Cola by 1.4% in the fourth quarter. Haverford Trust Co. now owns 1,701,798 shares of the company’s stock worth $73,109,000 after buying an additional 23,592 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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