Coca-Cola (NYSE:KO) Shares Up 0.2%

The Coca-Cola Company (NYSE:KO)’s share price shot up 0.2% during trading on Thursday . The company traded as high as $63.00 and last traded at $62.97. 1,852,886 shares traded hands during trading, a decline of 87% from the average session volume of 13,746,381 shares. The stock had previously closed at $62.85.

Analyst Ratings Changes

A number of brokerages recently commented on KO. Barclays upped their target price on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. UBS Group upped their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. upped their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Citigroup upped their price target on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Finally, Evercore ISI increased their target price on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.27.

Coca-Cola Trading Up 0.1 %

The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $270.93 billion, a PE ratio of 25.15, a PEG ratio of 3.53 and a beta of 0.57. The business has a fifty day moving average price of $60.37 and a two-hundred day moving average price of $59.33.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The business had revenue of $11.30 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same period in the previous year, the business posted $0.68 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. Analysts expect that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Friday, June 14th. Coca-Cola’s dividend payout ratio is presently 77.60%.

Insider Buying and Selling

In related news, EVP Beatriz R. Perez sold 57,298 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $61.99, for a total value of $3,551,903.02. Following the transaction, the executive vice president now owns 167,107 shares in the company, valued at $10,358,962.93. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Beatriz R. Perez sold 57,298 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.99, for a total value of $3,551,903.02. Following the completion of the transaction, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at $10,358,962.93. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 380,405 shares of company stock worth $23,209,645. 0.97% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Coca-Cola

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC grew its holdings in Coca-Cola by 6.2% in the 1st quarter. Brighton Jones LLC now owns 35,478 shares of the company’s stock worth $2,171,000 after buying an additional 2,068 shares in the last quarter. Leo Wealth LLC lifted its position in Coca-Cola by 2.5% in the first quarter. Leo Wealth LLC now owns 27,872 shares of the company’s stock worth $1,700,000 after purchasing an additional 684 shares during the period. Orion Portfolio Solutions LLC lifted its position in Coca-Cola by 3.6% in the first quarter. Orion Portfolio Solutions LLC now owns 197,014 shares of the company’s stock worth $12,053,000 after purchasing an additional 6,929 shares during the period. Blair William & Co. IL lifted its position in Coca-Cola by 3.6% in the first quarter. Blair William & Co. IL now owns 1,627,684 shares of the company’s stock worth $99,582,000 after purchasing an additional 56,421 shares during the period. Finally, Wilkins Investment Counsel Inc. lifted its position in shares of Coca-Cola by 258.2% during the 1st quarter. Wilkins Investment Counsel Inc. now owns 34,638 shares of the company’s stock valued at $2,119,000 after acquiring an additional 24,968 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Coca-Cola Company Profile

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.