Traders Buy Shares of Coca-Cola Co. (KO) on Weakness
Traders purchased shares of Coca-Cola Co. (NYSE:KO) on weakness during trading on Tuesday. $194.00 million flowed into the stock on the tick-up and $83.16 million flowed out of the stock on the tick-down, for a money net flow of $110.84 million into the stock. Of all stocks tracked, Coca-Cola had the 2nd highest net in-flow for the day. Coca-Cola traded down ($0.69) for the day and closed at $44.88
A number of research analysts have recently weighed in on KO shares. Deutsche Bank AG reissued a “buy” rating on shares of Coca-Cola in a research note on Sunday. Societe Generale set a $46.00 price target on Coca-Cola and gave the company a “neutral” rating in a research note on Thursday, April 28th. Vetr downgraded Coca-Cola from a “buy” rating to a “hold” rating and set a $45.83 price target on the stock. in a research note on Tuesday, May 24th. Citigroup Inc. increased their price target on Coca-Cola from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, April 21st. Finally, Sanford C. Bernstein set a $50.00 price target on Coca-Cola and gave the company a “buy” rating in a research note on Thursday, April 14th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $47.72.
The stock has a market capitalization of $194.16 billion and a PE ratio of 27.02. The stock has a 50-day moving average price of $45.22 and a 200-day moving average price of $44.59.
Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. The company had revenue of $11.50 billion for the quarter, compared to the consensus estimate of $11.69 billion. On average, equities analysts forecast that Coca-Cola Co. will post $1.94 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be paid a $0.35 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $1.40 annualized dividend and a dividend yield of 3.12%.
In related news, insider Brian John Smith sold 50,000 shares of the business’s stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $44.32, for a total value of $2,216,000.00. Following the sale, the insider now owns 70,947 shares of the company’s stock, valued at $3,144,371.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP J Alexander Douglas, Jr. sold 572,748 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 291,675 shares in the company, valued at approximately $13,198,293.75. The disclosure for this sale can be found here.
Several hedge funds have modified their holdings of the company. Vanguard Group Inc. boosted 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 valued at $11,256,857,000 after buying an additional 6,298,427 shares in the last quarter. Morgan Stanley boosted its stake 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 valued at $677,983,000 after buying an additional 553,607 shares in the last quarter. Agran Libbie boosted its stake in shares of Coca-Cola by 9,727.2% in the fourth quarter. Agran Libbie now owns 13,669,679 shares of the company’s stock valued at $5,872,000 after buying an additional 13,530,579 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of Coca-Cola by 3.1% in the fourth quarter. California Public Employees Retirement System now owns 11,485,912 shares of the company’s stock valued at $493,435,000 after buying an additional 347,399 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Coca-Cola by 7.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,702,190 shares of the company’s stock valued at $330,923,000 after buying an additional 545,905 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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