Coca-Cola (NYSE:KO) Trading Down 0.3% Following Insider Selling

The Coca-Cola Company (NYSE:KO) shares fell 0.3% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $62.51 and last traded at $62.99. 2,694,899 shares were traded during trading, a decline of 80% from the average session volume of 13,246,997 shares. The stock had previously closed at $63.20.

Specifically, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Analysts Set New Price Targets

A number of brokerages have commented on KO. Citigroup upped their price target on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft boosted their price target on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Wells Fargo & Company boosted their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. TD Cowen increased their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, Barclays cut their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $72.36.

Coca-Cola Price Performance

The firm has a 50-day simple moving average of $69.18 and a 200-day simple moving average of $66.53. The firm has a market cap of $271.48 billion, a P/E ratio of 26.06, a PEG ratio of 3.84 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 EPS. As a group, analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 3.08%. Coca-Cola’s payout ratio is 80.17%.

Institutional Investors Weigh In On Coca-Cola

Several institutional investors have recently bought and sold shares of the company. Apella Capital LLC lifted its stake in Coca-Cola by 1.4% during the 3rd quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock worth $748,000 after acquiring an additional 146 shares in the last quarter. Investment Advisory Group LLC increased its stake in Coca-Cola by 4.5% during the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock worth $243,000 after purchasing an additional 146 shares during the period. Elwood & Goetz Wealth Advisory Group LLC lifted its position in shares of Coca-Cola by 2.2% during the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock worth $437,000 after purchasing an additional 149 shares in the last quarter. CCG Wealth Management LLC boosted its stake in shares of Coca-Cola by 4.3% in the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock valued at $260,000 after purchasing an additional 149 shares during the period. Finally, Investment Partners Asset Management Inc. grew its holdings in shares of Coca-Cola by 2.2% in the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after purchasing an additional 150 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

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.