Coca-Cola Co. (KO) Short Interest Update
Coca-Cola Co. (NYSE:KO) was the recipient of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 32,588,645 shares, an increase of 9.4% from the October 14th total of 29,791,494 shares. Currently, 0.8% of the company’s shares are sold short. Based on an average daily volume of 13,777,478 shares, the days-to-cover ratio is presently 2.4 days.
Coca-Cola (NYSE:KO) opened at 41.17 on Tuesday. The stock has a market capitalization of $177.56 billion, a PE ratio of 24.97 and a beta of 0.68. Coca-Cola has a 52-week low of $40.63 and a 52-week high of $47.13. The stock’s 50 day moving average price is $42.03 and its 200-day moving average price is $43.79.
Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, October 26th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Coca-Cola had a return on equity of 32.47% and a net margin of 16.99%. The company had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.47 billion. During the same period in the prior year, the company posted $0.51 EPS. The firm’s quarterly revenue was down 6.9% compared to the same quarter last year. On average, equities analysts expect that Coca-Cola will post $1.91 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.40%. The ex-dividend date is Tuesday, November 29th. Coca-Cola’s dividend payout ratio is currently 84.85%.
In other news, VP Kathy N. Waller sold 36,342 shares of the stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $42.06, for a total transaction of $1,528,544.52. Following the completion of the sale, the vice president now owns 104,345 shares of the company’s stock, valued at $4,388,750.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.54% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Coca-Cola by 2.0% in the second quarter. Vanguard Group Inc. now owns 273,897,295 shares of the company’s stock worth $12,415,764,000 after buying an additional 5,478,675 shares in the last quarter. State Street Corp raised its position in shares of Coca-Cola by 0.9% in the first quarter. State Street Corp now owns 167,467,138 shares of the company’s stock worth $7,768,816,000 after buying an additional 1,511,559 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Coca-Cola by 1.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 102,992,922 shares of the company’s stock worth $4,358,660,000 after buying an additional 1,060,438 shares in the last quarter. Capital Research Global Investors raised its position in shares of Coca-Cola by 4.1% in the second quarter. Capital Research Global Investors now owns 79,080,741 shares of the company’s stock worth $3,584,730,000 after buying an additional 3,091,367 shares in the last quarter. Finally, BlackRock Fund Advisors raised its position in shares of Coca-Cola by 2.5% in the third quarter. BlackRock Fund Advisors now owns 60,254,078 shares of the company’s stock worth $2,549,953,000 after buying an additional 1,492,283 shares in the last quarter. 63.87% of the stock is currently owned by institutional investors.
A number of equities analysts recently commented on KO shares. Stifel Nicolaus decreased their target price on Coca-Cola from $54.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Deutsche Bank AG restated a “buy” rating on shares of Coca-Cola in a report on Sunday, July 24th. Vetr restated a “buy” rating on shares of Coca-Cola in a report on Thursday, July 28th. Sanford C. Bernstein set a $49.00 target price on Coca-Cola and gave the company a “buy” rating in a report on Thursday, July 28th. Finally, SunTrust Banks Inc. restated a “buy” rating on shares of Coca-Cola in a report on Sunday, July 31st. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Coca-Cola has a consensus rating of “Hold” and a consensus target price of $46.95.
Coca-Cola Company Profile
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets over 500 nonalcoholic beverage brands, primarily sparkling beverages but also a range of still beverages, such as waters, enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks.
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