Investors Sell Coca-Cola Co. (KO) on Strength (KO)
Investors sold shares of Coca-Cola Co. (NYSE:KO) on strength during trading hours on Friday. $61.78 million flowed into the stock on the tick-up and $85.59 million flowed out of the stock on the tick-down, for a money net flow of $23.81 million out of the stock. Of all companies tracked, Coca-Cola had the 0th highest net out-flow for the day. Coca-Cola traded up $0.29 for the day and closed at $45.38
KO has been the topic of several recent analyst reports. Vetr upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $47.67 price target on the stock in a report on Thursday, April 14th. Sanford C. Bernstein set a $50.00 price target on shares of Coca-Cola and gave the company a “buy” rating in a report on Thursday, April 14th. Stifel Nicolaus reiterated a “buy” rating and issued a $52.00 price target on shares of Coca-Cola in a report on Tuesday, March 15th. Royal Bank Of Canada reiterated a “buy” rating and issued a $51.00 price target on shares of Coca-Cola in a report on Wednesday, April 13th. Finally, Bank of America Corp. reiterated a “buy” rating and issued a $52.00 price target on shares of Coca-Cola in a report on Tuesday, April 12th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $47.58.
The stock has a market capitalization of $196.32 billion and a price-to-earnings ratio of 27.32. The stock’s 50 day moving average price is $44.90 and its 200-day moving average price is $44.36.
Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, April 20th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $10.30 billion for the quarter, compared to the consensus estimate of $10.28 billion. Coca-Cola’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.48 EPS. Analysts anticipate that Coca-Cola Co. will post $1.94 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Wednesday, June 15th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend was Monday, June 13th.
In related news, EVP J Alexander Douglas, Jr. sold 572,748 shares of the firm’s stock in a transaction dated Monday, June 20th. The stock was sold at an average price of $45.25, for a total transaction of $25,916,847.00. Following 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 filing with the SEC, which is available through the SEC website. Also, VP Larry M. Mark sold 28,000 shares of the firm’s stock in a transaction dated Monday, April 25th. The shares were sold at an average price of $44.52, for a total value of $1,246,560.00. Following the sale, the vice president now directly owns 52,465 shares in the company, valued at approximately $2,335,741.80. The disclosure for this sale can be found here.
Other large investors recently modified their holdings of the company. Chemung Canal Trust Co. increased its stake in shares of Coca-Cola by 42.3% in the fourth quarter. Chemung Canal Trust Co. now owns 300,406 shares of the company’s stock worth $12,905,000 after buying an additional 89,320 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Coca-Cola by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 262,031,119 shares of the company’s stock worth $11,256,857,000 after buying an additional 6,298,427 shares during the last quarter. Boston Family Office LLC increased its stake in shares of Coca-Cola by 1.1% in the fourth quarter. Boston Family Office LLC now owns 89,560 shares of the company’s stock worth $3,847,000 after buying an additional 1,003 shares during the last quarter. Trust Co. of Vermont increased its stake in shares of Coca-Cola by 1.5% in the fourth quarter. Trust Co. of Vermont now owns 90,773 shares of the company’s stock worth $3,900,000 after buying an additional 1,377 shares during the last quarter. Finally, Reik & CO. LLC increased its stake in shares of Coca-Cola by 2.4% in the fourth quarter. Reik & CO. LLC now owns 88,330 shares of the company’s stock worth $3,794,000 after buying an additional 2,030 shares during the last quarter.
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets more than 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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