Coca-Cola (NYSE:KO) Trading 0.2% Higher Following Analyst Upgrade

The Coca-Cola Company (NYSE:KO) shares shot up 0.2% during mid-day trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $73.00 to $78.00. Wells Fargo & Company currently has an overweight rating on the stock. Coca-Cola traded as high as $72.30 and last traded at $72.22. 1,787,498 shares traded hands during trading, a decline of 86% from the average session volume of 13,078,214 shares. The stock had previously closed at $72.10.

A number of other equities analysts have also recently issued reports on KO. Morgan Stanley raised their target price on Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. Barclays boosted their price objective on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Citigroup increased their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada boosted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, TD Cowen raised their price objective on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and an average target price of $71.07.

Insider Buying and Selling

In other news, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the sale, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Nancy Quan sold 37,787 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,954,176.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the transaction, the insider now directly owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The disclosure for this sale can be found here. Over the last three months, insiders sold 974,715 shares of company stock worth $579,704,927. 0.97% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Elwood & Goetz Wealth Advisory Group LLC grew its holdings in Coca-Cola by 2.2% in the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock worth $437,000 after acquiring an additional 149 shares during the last quarter. Drive Wealth Management LLC raised its position in Coca-Cola by 1.6% during the 2nd quarter. Drive Wealth Management LLC now owns 9,824 shares of the company’s stock valued at $630,000 after purchasing an additional 151 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in Coca-Cola by 4.4% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock worth $231,000 after buying an additional 153 shares during the period. Liberty Capital Management Inc. grew its position in shares of Coca-Cola by 3.7% in the 2nd quarter. Liberty Capital Management Inc. now owns 4,319 shares of the company’s stock worth $275,000 after buying an additional 155 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV increased its stake in shares of Coca-Cola by 0.4% during the second quarter. Azzad Asset Management Inc. ADV now owns 42,407 shares of the company’s stock valued at $2,699,000 after buying an additional 160 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Price Performance

The company has a market cap of $309.31 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60. The business has a 50 day moving average of $68.65 and a 200 day moving average of $64.13. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. During the same period last year, the company posted $0.78 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.70%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

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.