Coca-Cola (NYSE:KO) Trading Up 1.1%

The Coca-Cola Company (NYSE:KO)’s stock price was up 1.1% on Tuesday . The stock traded as high as $72.75 and last traded at $72.68. Approximately 3,288,441 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 13,259,185 shares. The stock had previously closed at $71.86.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on KO shares. BNP Paribas started coverage on shares of Coca-Cola in a report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target on the stock. Truist Financial increased their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday. Bank of America upped their price objective on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $71.07.

Coca-Cola Stock Down 0.1 %

The business has a 50-day moving average price of $69.96 and a 200-day moving average price of $64.85. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The stock has a market cap of $309.40 billion, a PE ratio of 29.07, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60.

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

Coca-Cola Dividend Announcement

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

Insider Buying and Selling

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. The disclosure for this sale can be found here. Insiders sold a total of 974,715 shares of company stock worth $579,704,927 over the last 90 days. 0.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Coca-Cola

A number of hedge funds have recently bought and sold shares of KO. First Financial Bank Trust Division grew its position in shares of Coca-Cola by 3.8% in the 3rd quarter. First Financial Bank Trust Division now owns 12,487 shares of the company’s stock worth $897,000 after acquiring an additional 459 shares in the last quarter. Mattson Financial Services LLC acquired a new position in shares of Coca-Cola in the 2nd quarter worth approximately $2,636,000. Ashburton Jersey Ltd acquired a new position in shares of Coca-Cola in the 2nd quarter worth approximately $828,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Coca-Cola by 84.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,007,300 shares of the company’s stock worth $64,115,000 after acquiring an additional 460,453 shares in the last quarter. Finally, Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group grew its position in shares of Coca-Cola by 0.8% in the 2nd 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 acquiring an additional 162 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

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.