Investors Sell Coca-Cola Co. (KO) on Strength (KO)
Investors sold shares of Coca-Cola Co. (NYSE:KO) on strength during trading on Tuesday. $46.36 million flowed into the stock on the tick-up and $78.00 million flowed out of the stock on the tick-down, for a money net flow of $31.64 million out of the stock. Of all stocks tracked, Coca-Cola had the 0th highest net out-flow for the day. Coca-Cola traded up $0.22 for the day and closed at $43.54
A number of research firms recently weighed in on KO. Societe Generale set a $44.00 price objective on shares of Coca-Cola and gave the company a “neutral” rating in a research report on Monday, August 8th. Vetr upgraded shares of Coca-Cola from a “sell” rating to a “hold” rating and set a $44.00 target price on the stock in a research report on Monday, June 13th. Susquehanna restated a “hold” rating and set a $39.00 target price on shares of Coca-Cola in a research report on Sunday, June 5th. Jefferies Group restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, August 25th. Finally, Zacks Investment Research upgraded shares of Coca-Cola from a “sell” rating to a “hold” rating in a research report on Friday, July 8th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. Coca-Cola has an average rating of “Hold” and a consensus price target of $46.90.
The company has a market capitalization of $186.63 billion and a PE ratio of 24.88. The firm has a 50-day moving average price of $44.25 and a 200-day moving average price of $44.83.
Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. During the same period in the prior year, the firm earned $0.63 EPS. The company earned $11.50 billion during the quarter, compared to analyst estimates of $11.69 billion. Coca-Cola’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, equities analysts forecast that Coca-Cola Co. will post $1.91 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders 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 3.24%.
In other Coca-Cola news, EVP J Alexander Douglas, Jr. sold 572,748 shares of Coca-Cola stock in a transaction on 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 in the company, valued at approximately $13,198,293.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Other large investors have recently added to or reduced their stakes in the company. Veritable L.P. increased its stake in Coca-Cola by 1.3% in the fourth quarter. Veritable L.P. now owns 268,289 shares of the company’s stock worth $11,526,000 after buying an additional 3,550 shares during the last quarter. Marshall Wace LLP increased its stake in Coca-Cola by 97.4% in the fourth quarter. Marshall Wace LLP now owns 1,293,166 shares of the company’s stock worth $55,554,000 after buying an additional 638,028 shares during the last quarter. Cibc World Markets Corp increased its stake in Coca-Cola by 28.8% in the fourth quarter. Cibc World Markets Corp now owns 47,509 shares of the company’s stock worth $2,041,000 after buying an additional 10,627 shares during the last quarter. Atlanta Capital Group increased its stake in Coca-Cola by 5.3% in the fourth quarter. Atlanta Capital Group now owns 93,280 shares of the company’s stock worth $4,007,000 after buying an additional 4,711 shares during the last quarter. Finally, Arcus Capital Partners LLC purchased a new stake in Coca-Cola during the fourth quarter worth $28,104,000.
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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