Coca-Cola (NYSE:KO) Stock Price Down 0.3% – Here’s Why

The Coca-Cola Company (NYSE:KO) shares were down 0.3% on Friday . The company traded as low as $65.08 and last traded at $65.12. Approximately 2,135,357 shares traded hands during trading, a decline of 84% from the average daily volume of 13,207,259 shares. The stock had previously closed at $65.31.

Analysts Set New Price Targets

KO has been the topic of a number of recent analyst reports. Bank of America boosted their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Barclays reduced 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. Wells Fargo & Company lifted their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. JPMorgan Chase & Co. raised their price target 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. Finally, Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Five 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.80.

Coca-Cola Stock Down 0.3 %

The company has a market capitalization of $280.61 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 4.00 and a beta of 0.60. The stock’s fifty day simple moving average is $70.39 and its two-hundred day simple moving average is $66.21. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

Coca-Cola (NYSE:KO) last issued its earnings results 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. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the prior year, the company earned $0.74 earnings per share. The firm’s revenue was down .8% compared to the same quarter last year. On average, sell-side analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.98%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were 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 of the company’s stock, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were 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 of the company’s stock, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lisa Chang sold 58,122 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the transaction, the executive vice president now directly owns 74,067 shares in the company, valued at approximately $5,074,330.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 261,870 shares of company stock valued at $18,256,369 in the last quarter. Company insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Coca-Cola

Several large investors have recently made changes to their positions in the business. Apella Capital LLC grew its holdings in shares of Coca-Cola by 1.4% during the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock worth $748,000 after buying an additional 146 shares in the last quarter. Investment Advisory Group LLC grew its holdings in shares of 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 buying an additional 146 shares in the last quarter. Elwood & Goetz Wealth Advisory Group LLC grew its stake in Coca-Cola by 2.2% in the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after purchasing an additional 149 shares in the last quarter. CCG Wealth Management LLC grew its stake in 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 in the last quarter. Finally, Investment Partners Asset Management Inc. grew its stake in 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. Institutional investors 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.