Coca-Cola (NYSE:KO) Shares Down 0.2% – Here’s What Happened

The Coca-Cola Company (NYSE:KO)’s stock price traded down 0.2% during trading on Tuesday . The company traded as low as $68.68 and last traded at $69.32. 3,626,865 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 13,113,007 shares. The stock had previously closed at $69.45.

Analyst Ratings Changes

A number of research analysts recently weighed in on KO shares. Deutsche Bank Aktiengesellschaft raised their price objective on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note 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 research report on Monday, September 16th. Citigroup raised their price target on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Royal Bank of Canada upped their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, TD Cowen increased their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Coca-Cola Trading Up 0.2 %

The stock has a market capitalization of $299.88 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 3.92 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The business has a 50 day simple moving average of $70.73 and a 200-day simple moving average of $65.87.

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

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is 77.60%.

Insider Buying and Selling

In other news, EVP Nancy Quan sold 18,482 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,398,603.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 18,482 shares of Coca-Cola stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,398,603.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Quincey sold 42,397 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 356,792 shares of company stock worth $24,728,364 over the last ninety days. Company insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Coca-Cola

Several large investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its stake in Coca-Cola by 21.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after acquiring an additional 8,733,326 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Coca-Cola by 2.9% in the second quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock valued at $2,463,373,000 after buying an additional 1,084,475 shares during the last quarter. Truist Financial Corp increased its holdings in shares of Coca-Cola by 1.1% during the 2nd quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock worth $1,041,479,000 after acquiring an additional 177,241 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Coca-Cola by 30.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock worth $776,924,000 after acquiring an additional 2,964,850 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Coca-Cola by 15.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 10,433,875 shares of the company’s stock valued at $638,344,000 after purchasing an additional 1,417,930 shares during the last quarter. 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.