Short Interest in The Coca-Cola Company (NYSE:KO) Expands By 7.7%

The Coca-Cola Company (NYSE:KO) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 39,140,000 shares, a growth of 7.7% from the August 15th total of 36,350,000 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average trading volume of 13,090,000 shares, the days-to-cover ratio is presently 3.0 days.

Wall Street Analyst Weigh In

A number of analysts have issued reports on KO shares. BNP Paribas began coverage on shares of Coca-Cola in a report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective for the company. Morgan Stanley increased their price target on Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. Bank of America lifted their price objective on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Royal Bank of Canada raised their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.07.

Insider Buying and Selling

In other news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. In the last three months, insiders have sold 974,715 shares of company stock valued at $579,704,927. 0.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Coca-Cola

A number of institutional investors have recently added to or reduced their stakes in KO. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group grew its stake in shares of Coca-Cola by 0.8% in the second quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 21,633 shares of the company’s stock worth $1,377,000 after purchasing an additional 162 shares during the last quarter. American Trust grew its position in shares of Coca-Cola by 15.5% in the 2nd quarter. American Trust now owns 15,802 shares of the company’s stock valued at $1,006,000 after buying an additional 2,119 shares during the last quarter. Newbridge Financial Services Group Inc. increased its stake in shares of Coca-Cola by 7.2% in the second quarter. Newbridge Financial Services Group Inc. now owns 9,608 shares of the company’s stock valued at $612,000 after buying an additional 648 shares during the period. Cannon Financial Strategists Inc. bought a new position in shares of Coca-Cola during the second quarter worth about $3,611,000. Finally, Brightwater Advisory LLC acquired a new position in shares of Coca-Cola in the second quarter worth approximately $367,000. 70.26% of the stock is owned by institutional investors.

Coca-Cola Price Performance

Coca-Cola stock traded down $0.08 during mid-day trading on Wednesday, reaching $71.72. The company had a trading volume of 7,294,497 shares, compared to its average volume of 13,109,882. The business has a fifty day simple moving average of $68.65 and a 200 day simple moving average of $64.13. The company has a market cap of $308.97 billion, a P/E ratio of 28.82, a P/E/G ratio of 3.93 and a beta of 0.60. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. Coca-Cola has a fifty-two week low of $51.55 and a fifty-two week high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. The company had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. Coca-Cola’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.78 EPS. On average, equities research analysts predict that Coca-Cola will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.485 dividend. The ex-dividend date 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 presently 77.60%.

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.