Short Interest in The Coca-Cola Co (KO) Decreases By 17.4%
The Coca-Cola Co (NYSE:KO) was the target of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 24,059,544 shares, a decrease of 17.4% from the February 15th total of 29,120,284 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average trading volume of 23,177,997 shares, the days-to-cover ratio is presently 1.0 days.
Several equities analysts have weighed in on the company. Jefferies Financial Group reissued a “neutral” rating and issued a $49.00 target price on shares of The Coca-Cola in a research note on Monday, December 10th. Zacks Investment Research lowered The Coca-Cola from a “buy” rating to a “hold” rating in a research note on Thursday, January 10th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $51.00 target price on shares of The Coca-Cola in a research note on Thursday, February 14th. UBS Group reissued a “neutral” rating and issued a $50.00 target price on shares of The Coca-Cola in a research note on Friday, February 15th. Finally, Credit Suisse Group assumed coverage on The Coca-Cola in a research note on Wednesday, March 6th. They issued a “neutral” rating and a $48.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $50.60.
In other The Coca-Cola news, insider Beatriz R. Perez sold 21,742 shares of the stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $48.76, for a total value of $1,060,139.92. Following the transaction, the insider now owns 92,645 shares of the company’s stock, valued at $4,517,370.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Beatriz R. Perez sold 10,000 shares of the stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $48.50, for a total value of $485,000.00. Following the completion of the transaction, the senior vice president now directly owns 92,645 shares in the company, valued at approximately $4,493,282.50. The disclosure for this sale can be found here. Corporate insiders own 1.33% of the company’s stock.
Shares of KO stock opened at $45.30 on Friday. The Coca-Cola has a 12 month low of $41.45 and a 12 month high of $50.84. The company has a market cap of $193.25 billion, a PE ratio of 21.78, a price-to-earnings-growth ratio of 3.10 and a beta of 0.51. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.05 and a quick ratio of 0.95.
The Coca-Cola (NYSE:KO) last issued its earnings results on Thursday, February 14th. The company reported $0.43 EPS for the quarter, meeting analysts’ consensus estimates of $0.43. The business had revenue of $7.10 billion during the quarter, compared to analyst estimates of $7.07 billion. The Coca-Cola had a return on equity of 43.91% and a net margin of 20.20%. The Coca-Cola’s revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 earnings per share. Equities analysts anticipate that The Coca-Cola will post 2.09 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.53%. This is a positive change from The Coca-Cola’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Thursday, March 14th. The Coca-Cola’s dividend payout ratio is presently 75.00%.
About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantbased beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
Recommended Story: Conference Calls and Individual Investors
Receive News & Ratings for The Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.