Investors Sell Shares of Coca-Cola Co. (KO) on Strength (KO)
Investors sold shares of Coca-Cola Co. (NYSE:KO) on strength during trading on Monday. $46.36 million flowed into the stock on the tick-up and $78.00 million flowed out of the stock on the tick-down, for a money net flow of $31.64 million out of the stock. Of all stocks tracked, Coca-Cola had the 0th highest net out-flow for the day. Coca-Cola traded up $0.22 for the day and closed at $43.54
Several research firms recently commented on KO. Societe Generale set a $44.00 price target on shares of Coca-Cola and gave the company a “neutral” rating in a report on Monday, August 8th. Vetr upgraded shares of Coca-Cola from a “sell” rating to a “hold” rating and set a $44.00 price target on the stock in a report on Monday, June 13th. Susquehanna restated a “hold” rating and issued a $39.00 price target on shares of Coca-Cola in a report on Sunday, June 5th. Jefferies Group restated a “hold” rating on shares of Coca-Cola in a report on Thursday, August 25th. Finally, Zacks Investment Research upgraded shares of Coca-Cola from a “sell” rating to a “hold” rating in a research note on Friday, July 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. Coca-Cola currently has an average rating of “Hold” and a consensus target price of $46.90.
The stock’s 50-day moving average is $44.32 and its 200 day moving average is $44.83. The stock has a market capitalization of $187.92 billion and a P/E ratio of 25.05.
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 the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The company earned $11.50 billion during the quarter, compared to analyst estimates of $11.69 billion. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 earnings per share. On average, analysts expect that Coca-Cola Co. will post $1.91 EPS for the current year.
The business also recently announced 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 annualized dividend and a yield of 3.22%.
In related news, EVP J Alexander Douglas, Jr. sold 572,748 shares of the business’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 sale, 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 SEC, which can be accessed through the SEC website.
Other hedge funds and institutional investors have modified their holdings of the company. GSA Capital Partners LLP acquired a new position in shares of Coca-Cola during the fourth quarter worth approximately $1,409,000. Bragg Financial Advisors Inc raised its position in shares of Coca-Cola by 12.5% in the fourth quarter. Bragg Financial Advisors Inc now owns 33,042 shares of the company’s stock worth $1,419,000 after buying an additional 3,670 shares during the period. Mandatum Life Insurance Co Ltd acquired a new position in shares of Coca-Cola during the fourth quarter worth approximately $1,551,000. Boltwood Capital Management raised its position 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, Cibc World Markets Corp raised its position in shares of Coca-Cola by 28.8% in the fourth quarter. Cibc World Markets Corp now owns 47,509 shares of the company’s stock worth $2,041,000 after buying an additional 10,627 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.