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 Monday. $56.28 million flowed into the stock on the tick-up and $94.34 million flowed out of the stock on the tick-down, for a money net flow of $38.06 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 $0.21 for the day and closed at $44.24
A number of brokerages have weighed in on KO. Susquehanna reissued a “hold” rating on shares of Coca-Cola in a report on Sunday, July 17th. Vetr reaffirmed a “buy” rating on shares of Coca-Cola in a report on Thursday, July 28th. Zacks Investment Research raised shares of Coca-Cola from a “sell” rating to a “hold” rating in a report on Friday, July 8th. Societe Generale set a $46.00 price objective on shares of Coca-Cola and gave the stock a “neutral” rating in a report on Thursday, April 28th. Finally, Sanford C. Bernstein set a $49.00 price objective on shares of Coca-Cola and gave the stock a “buy” rating in a report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $46.90.
The company has a market capitalization of $189.84 billion and a price-to-earnings ratio of 25.308. The company has a 50 day moving average of $44.62 and a 200-day moving average of $44.75.
Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. The business earned $11.50 billion during the quarter, compared to the consensus estimate of $11.69 billion. During the same period in the prior year, the firm earned $0.63 earnings per share. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, equities 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. Investors of record on Thursday, September 15th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.16%.
In other Coca-Cola news, insider Brian John Smith sold 50,000 shares of the business’s stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $44.32, for a total transaction of $2,216,000.00. Following the completion of the sale, the insider now directly owns 70,947 shares of the company’s stock, valued at approximately $3,144,371.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 dated 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 sale, the executive vice president now directly owns 291,675 shares of the company’s stock, valued at $13,198,293.75. The disclosure for this sale can be found here.
Other hedge funds have recently made changes to their positions in the company. Liberty Mutual Group Asset Management Inc. boosted its stake in shares of Coca-Cola by 71.7% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 232,417 shares of the company’s stock valued at $9,985,000 after buying an additional 97,024 shares in the last quarter. LLBH Private Wealth Management LLC bought a new stake in shares of Coca-Cola during the fourth quarter worth approximately $1,593,000. Pinnacle Associates Ltd. boosted its stake in shares of Coca-Cola by 3.2% in the fourth quarter. Pinnacle Associates Ltd. now owns 141,508 shares of the company’s stock worth $6,079,000 after buying an additional 4,372 shares during the period. Boltwood Capital Management boosted its stake in shares of Coca-Cola by 2.7% in the fourth quarter. Boltwood Capital Management now owns 41,454 shares of the company’s stock worth $1,781,000 after buying an additional 1,100 shares during the period. Finally, Mizuho Trust & Banking Co. Ltd. boosted its stake in shares of Coca-Cola by 0.7% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 6,396,047 shares of the company’s stock worth $278,676,000 after buying an additional 46,660 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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