Investors Sell Shares of The Coca-Cola (KO) on Strength (KO)
Investors sold shares of The Coca-Cola Co (NYSE:KO) on strength during trading on Wednesday. $70.30 million flowed into the stock on the tick-up and $147.26 million flowed out of the stock on the tick-down, for a money net flow of $76.96 million out of the stock. Of all companies tracked, The Coca-Cola had the 21st highest net out-flow for the day. The Coca-Cola traded up $0.61 for the day and closed at $45.90
A number of brokerages have recently issued reports on KO. Vetr upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $47.68 price target on the stock in a research note on Monday. Deutsche Bank began coverage on shares of The Coca-Cola in a research note on Wednesday. They set a “buy” rating on the stock. Cowen reiterated a “hold” rating and set a $42.00 price target on shares of The Coca-Cola in a research note on Thursday, September 28th. Macquarie began coverage on shares of The Coca-Cola in a research note on Friday, September 15th. They set a “neutral” rating and a $47.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $47.80.
The company has a debt-to-equity ratio of 1.47, a current ratio of 1.39 and a quick ratio of 1.30. The company has a market cap of $193,136.05, a PE ratio of 23.98, a price-to-earnings-growth ratio of 3.88 and a beta of 0.70.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Thursday, November 30th. The Coca-Cola’s dividend payout ratio (DPR) is presently 140.95%.
In other The Coca-Cola news, insider J Alexander Douglas, Jr. sold 338,009 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $46.09, for a total value of $15,578,834.81. Following the sale, the insider now owns 320,013 shares of the company’s stock, valued at $14,749,399.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.51% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Signature Estate & Investment Advisors LLC lifted its stake in shares of The Coca-Cola by 5.0% during the first quarter. Signature Estate & Investment Advisors LLC now owns 2,725 shares of the company’s stock valued at $116,000 after buying an additional 129 shares during the period. Meeder Asset Management Inc. lifted its stake in shares of The Coca-Cola by 59.4% during the second quarter. Meeder Asset Management Inc. now owns 2,754 shares of the company’s stock valued at $124,000 after buying an additional 1,026 shares during the period. Veritas Investment Management LLP purchased a new position in shares of The Coca-Cola during the third quarter valued at approximately $135,000. Spectrum Management Group Inc. purchased a new position in shares of The Coca-Cola during the third quarter valued at approximately $137,000. Finally, Legacy Advisors LLC purchased a new position in shares of The Coca-Cola during the third quarter valued at approximately $139,000. 65.38% of the stock is currently owned by institutional investors.
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About The Coca-Cola
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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