Traders Sell Shares of Coca-Cola Co. (KO) on Strength (KO)
Investors sold shares of Coca-Cola Co. (NYSE:KO) on strength during trading hours on Tuesday. $72.97 million flowed into the stock on the tick-up and $106.57 million flowed out of the stock on the tick-down, for a money net flow of $33.60 million out of the stock. Of all stocks tracked, Coca-Cola had the 5th highest net out-flow for the day. Coca-Cola traded up $0.08 for the day and closed at $43.53
A number of brokerages have recently commented on KO. Vetr downgraded shares of Coca-Cola from a “hold” rating to a “sell” rating and set a $45.44 price target for the company. in a report on Monday, April 4th. Royal Bank Of Canada reiterated a “buy” rating and set a $51.00 price target on shares of Coca-Cola in a report on Wednesday, April 13th. Bank of America Corp. reiterated a “buy” rating and set a $52.00 price target on shares of Coca-Cola in a report on Tuesday, April 12th. Zacks Investment Research upgraded shares of Coca-Cola from a “sell” rating to a “hold” rating in a report on Tuesday, April 12th. Finally, Susquehanna reiterated a “hold” rating and set a $41.00 price target on shares of Coca-Cola in a report on Thursday, April 14th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $47.12.
The company has a market cap of $187.88 billion and a PE ratio of 25.05. The stock’s 50 day moving average is $44.93 and its 200-day moving average is $44.66.
Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The firm earned $11.50 billion during the quarter, compared to analyst estimates of $11.69 billion. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 EPS. Equities analysts predict that Coca-Cola Co. will post $1.92 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be issued a $0.35 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $1.40 dividend on an annualized basis and a yield of 3.22%.
In related news, insider Brian John Smith sold 50,000 shares of the stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $44.32, for a total value of $2,216,000.00. Following the transaction, the insider now owns 70,947 shares in the company, valued at $3,144,371.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP J Alexander Douglas, Jr. sold 572,748 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here.
A number of institutional investors recently made changes to their positions in the stock. Hodges Capital Management Inc. increased its position in shares of Coca-Cola by 6.3% in the fourth quarter. Hodges Capital Management Inc. now owns 27,660 shares of the company’s stock valued at $1,188,000 after buying an additional 1,638 shares during the period. Novare Capital Management LLC increased its position in shares of Coca-Cola by 2.3% in the fourth quarter. Novare Capital Management LLC now owns 28,481 shares of the company’s stock valued at $1,224,000 after buying an additional 650 shares during the period. Home Federal Bank of Tennessee bought a new position in shares of Coca-Cola during the fourth quarter valued at approximately $1,248,000. Cobblestone Capital Advisors LLC NY increased its position in shares of Coca-Cola by 4.6% in the fourth quarter. Cobblestone Capital Advisors LLC NY now owns 29,335 shares of the company’s stock valued at $1,260,000 after buying an additional 1,301 shares during the period. Finally, Pittenger & Anderson Inc. increased its position in shares of Coca-Cola by 4.8% in the fourth quarter. Pittenger & Anderson Inc. now owns 29,590 shares of the company’s stock valued at $1,271,000 after buying an additional 1,350 shares during the period.
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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