Coca-Cola (NYSE:KO) Stock Price Down 0.4%

Shares of The Coca-Cola Company (NYSE:KO) were down 0.4% on Tuesday . The company traded as low as $61.61 and last traded at $61.79. Approximately 5,124,256 shares were traded during trading, a decline of 63% from the average daily volume of 13,874,346 shares. The stock had previously closed at $62.04.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on KO. JPMorgan Chase & Co. cut their price target on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Barclays lifted their target price on shares of Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Finally, Citigroup increased their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.22.

Coca-Cola Trading Down 0.7 %

The stock has a market cap of $265.66 billion, a P/E ratio of 24.88, a PEG ratio of 3.53 and a beta of 0.59. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29. The business’s 50 day simple moving average is $60.17 and its two-hundred day simple moving average is $58.96.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The firm had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same period last year, the company earned $0.68 earnings per share. The business’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, analysts expect that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a $0.485 dividend. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.15%. Coca-Cola’s payout ratio is currently 78.23%.

Insider Activity

In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $13,594,097.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 323,107 shares of company stock valued at $19,657,742. Company insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Coca-Cola

Several institutional investors and hedge funds have recently bought and sold shares of the company. Tidemark LLC bought a new stake in Coca-Cola in the 4th quarter valued at about $26,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Coca-Cola during the 1st quarter valued at approximately $28,000. Private Wealth Management Group LLC bought a new stake in Coca-Cola during the 4th quarter valued at $27,000. ZRC Wealth Management LLC grew its holdings in Coca-Cola by 213.3% during the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after buying an additional 320 shares in the last quarter. Finally, Criterion Capital Advisors LLC bought a new stake in shares of Coca-Cola during the fourth quarter valued at about $30,000. 70.26% of the stock is owned by institutional investors.

About Coca-Cola

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.