Coca-Cola (NYSE:KO) Trading 0.6% Higher – What’s Next?

The Coca-Cola Company (NYSE:KO) traded up 0.6% during trading on Wednesday . The stock traded as high as $65.99 and last traded at $65.97. 2,643,651 shares traded hands during trading, a decline of 80% from the average session volume of 13,206,299 shares. The stock had previously closed at $65.56.

Analyst Upgrades and Downgrades

A number of research analysts have commented on KO shares. Wells Fargo & Company increased their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. TD Cowen boosted their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. increased their target price on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Morgan Stanley decreased their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Royal Bank of Canada increased their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $71.80.

Coca-Cola Stock Down 0.5 %

The stock has a 50 day moving average of $70.39 and a 200-day moving average of $66.21. The firm has a market capitalization of $279.92 billion, a P/E ratio of 26.91, a PEG ratio of 4.00 and a beta of 0.60. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion for 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 company’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.74 earnings per share. Research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

Insider Buying and Selling

In other news, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Lisa Chang sold 58,122 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the completion of the sale, the executive vice president now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction that occurred on 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 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 261,870 shares of company stock worth $18,256,369. Insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Rovin Capital UT ADV bought a new position in shares of Coca-Cola in the 3rd quarter valued at approximately $237,000. Washington Trust Advisors Inc. boosted its position in Coca-Cola by 0.5% in the 3rd quarter. Washington Trust Advisors Inc. now owns 56,561 shares of the company’s stock valued at $4,065,000 after buying an additional 296 shares during the last quarter. United Bank grew its holdings in Coca-Cola by 65.4% during the 3rd quarter. United Bank now owns 80,888 shares of the company’s stock worth $5,813,000 after acquiring an additional 31,979 shares during the period. First Fiduciary Investment Counsel Inc. boosted its position in shares of Coca-Cola by 2.9% during the third quarter. First Fiduciary Investment Counsel Inc. now owns 172,421 shares of the company’s stock worth $12,390,000 after purchasing an additional 4,787 shares in the last quarter. Finally, Holistic Planning LLC increased its position in shares of Coca-Cola by 9.2% during the third quarter. Holistic Planning LLC now owns 5,705 shares of the company’s stock worth $410,000 after acquiring an additional 483 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

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.