Traders Sell Coca-Cola Co. (KO) on Strength (KO)
Investors sold shares of Coca-Cola Co. (NYSE:KO) on strength during trading hours on Thursday. $64.49 million flowed into the stock on the tick-up and $105.20 million flowed out of the stock on the tick-down, for a money net flow of $40.71 million out of the stock. Of all equities tracked, Coca-Cola had the 0th highest net out-flow for the day. Coca-Cola traded up $0.14 for the day and closed at $43.75
Several analysts have recently commented on the stock. Susquehanna reiterated a “hold” rating on shares of Coca-Cola in a report on Sunday, July 17th. Goldman Sachs Group Inc. set a $46.00 target price on shares of Coca-Cola and gave the company a “neutral” rating in a report on Tuesday, July 12th. SunTrust Banks Inc. reiterated a “buy” rating on shares of Coca-Cola in a report on Sunday, July 31st. Zacks Investment Research upgraded shares of Coca-Cola from a “sell” rating to a “hold” rating in a report on Friday, July 8th. Finally, Vetr upgraded shares of Coca-Cola from a “buy” rating to a “strong-buy” rating and set a $49.32 target price for the company in a report on Tuesday, August 2nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Coca-Cola presently has an average rating of “Hold” and an average price target of $47.02.
The stock has a market cap of $190.03 billion and a P/E ratio of 25.33. The company has a 50-day moving average of $44.61 and a 200 day moving average of $44.70.
Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The firm earned $11.50 billion during the quarter, compared to analysts’ expectations of $11.69 billion. The company’s revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 earnings per share. On average, analysts anticipate that Coca-Cola Co. will post $1.91 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders 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 yield of 3.18%.
In other Coca-Cola news, EVP J Alexander Douglas, Jr. sold 572,748 shares of the company’s 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 directly owns 291,675 shares in the company, valued at approximately $13,198,293.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian John Smith sold 50,000 shares of the company’s 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 completion of the transaction, the insider now owns 70,947 shares of the company’s stock, valued at $3,144,371.04. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have bought and sold shares of the company. Vanguard Group Inc. increased its position in 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 during the last quarter. Morgan Stanley increased its position in 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 during the last quarter. Bank of The Ozarks increased its position in Coca-Cola by 2.3% in the fourth quarter. Bank of The Ozarks now owns 36,792 shares of the company’s stock valued at $1,580,000 after buying an additional 833 shares during the last quarter. First Houston Capital Inc. increased its position in Coca-Cola by 12.1% in the fourth quarter. First Houston Capital Inc. now owns 42,650 shares of the company’s stock valued at $1,832,000 after buying an additional 4,600 shares during the last quarter. Finally, Wetherby Asset Management Inc. increased its position in Coca-Cola by 1.7% in the fourth quarter. Wetherby Asset Management Inc. now owns 70,514 shares of the company’s stock valued at $3,029,000 after buying an additional 1,159 shares during 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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