Coca-Cola (NYSE:KO) Stock Price Down 0.2% on Insider Selling

The Coca-Cola Company (NYSE:KO) fell 0.2% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $70.56 and last traded at $70.71. 4,030,162 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 16,694,287 shares. The stock had previously closed at $70.87.

Specifically, CEO James Quincey sold 145,435 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $24,324,191.46. The trade was a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lisa Chang sold 13,445 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total value of $961,317.50. Following the completion of the sale, the executive vice president now directly owns 94,676 shares of the company’s stock, valued at approximately $6,769,334. This represents a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, insider Nikolaos Koumettis sold 54,708 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total value of $3,882,079.68. Following the completion of the sale, the insider now directly owns 246,909 shares of the company’s stock, valued at $17,520,662.64. The trade was a 18.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Analyst Ratings Changes

Several equities analysts have recently commented on KO shares. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 target price on shares of Coca-Cola in a report on Thursday, February 6th. UBS Group upped their target price on Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Evercore ISI upped their target price on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $74.24.

Coca-Cola Price Performance

The stock has a market capitalization of $306.22 billion, a price-to-earnings ratio of 28.82, a P/E/G ratio of 3.79 and a beta of 0.61. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The business has a 50-day simple moving average of $64.53 and a two-hundred day simple moving average of $66.51.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. As a group, research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio is 82.59%.

Institutional Investors Weigh In On Coca-Cola

A number of institutional investors and hedge funds have recently modified their holdings of KO. Norges Bank acquired a new stake in shares of Coca-Cola during the 4th quarter valued at $3,402,151,000. Capital International Investors lifted its position in shares of Coca-Cola by 96.0% during the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock valued at $1,553,337,000 after acquiring an additional 12,222,885 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Coca-Cola by 18.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock valued at $4,617,400,000 after acquiring an additional 11,569,920 shares during the last quarter. FMR LLC lifted its position in shares of Coca-Cola by 13.7% during the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after acquiring an additional 11,206,995 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Coca-Cola during the 4th quarter valued at $500,192,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

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.