Coca-Cola (NYSE:KO) Shares Up 0.6%

The Coca-Cola Company (NYSE:KO) shares shot up 0.6% during trading on Thursday . The stock traded as high as $62.59 and last traded at $61.95. 6,746,617 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 13,874,439 shares. The stock had previously closed at $61.55.

Analysts Set New Price Targets

Several research firms have commented on KO. Barclays lifted their price target on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Citigroup lifted their price target on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. reduced their price objective on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, April 19th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $67.22.

Coca-Cola Price Performance

The firm has a 50 day moving average price of $60.12 and a two-hundred day moving average price of $58.82. The firm has a market capitalization of $266.17 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 3.53 and a beta of 0.59. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. The firm had revenue of $10.80 billion for the quarter, compared to analyst estimates of $10.68 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. Coca-Cola’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 EPS. On average, equities analysts expect that The Coca-Cola Company will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a dividend of $0.485 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a yield of 3.14%. Coca-Cola’s payout ratio is 78.23%.

Insider Buying and Selling

In related news, EVP Nancy Quan sold 57,368 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $13,594,097.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 375,407 shares of company stock valued at $22,795,742. Corporate insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Coca-Cola

A number of institutional investors have recently made changes to their positions in the business. Tidemark LLC bought a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Coca-Cola in the 1st quarter valued at approximately $28,000. Private Wealth Management Group LLC bought a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $27,000. ZRC Wealth Management LLC increased its holdings in shares of Coca-Cola by 213.3% in the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after acquiring an additional 320 shares during the last quarter. Finally, Criterion Capital Advisors LLC bought a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $30,000. 70.26% of the stock is owned by institutional investors and hedge funds.

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.