Coca-Cola (NYSE:KO) Stock Price Down 0.4%

The Coca-Cola Company (NYSE:KO)’s stock price was down 0.4% during trading on Tuesday . The company traded as low as $61.61 and last traded at $61.79. Approximately 5,124,256 shares traded hands during trading, a decline of 63% from the average daily volume of 13,874,346 shares. The stock had previously closed at $62.04.

Wall Street Analyst Weigh In

Several analysts recently weighed in on KO shares. JPMorgan Chase & Co. lifted their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday. UBS Group raised their price objective on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup upped their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Barclays raised their price objective on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Finally, Evercore ISI boosted their target price on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $68.18.

Coca-Cola Trading Up 0.2 %

The company has a current ratio of 1.04, a quick ratio of 0.95 and a debt-to-equity ratio of 1.26. The business has a fifty day moving average price of $60.21 and a 200 day moving average price of $59.04. The firm has a market cap of $266.95 billion, a PE ratio of 24.77, a P/E/G ratio of 3.53 and a beta of 0.57.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.70 by $0.02. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The business had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter in the prior year, the business earned $0.68 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. Analysts forecast that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.485 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.94 dividend on an annualized basis and a yield of 3.13%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s payout ratio is presently 77.60%.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $26,968,753.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction 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 filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $26,968,753.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 323,107 shares of company stock valued at $19,657,742. Company insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Coca-Cola

A number of institutional investors and hedge funds have recently bought and sold shares of KO. Insigneo Advisory Services LLC increased its holdings in Coca-Cola by 12.2% during the 3rd quarter. Insigneo Advisory Services LLC now owns 41,683 shares of the company’s stock worth $2,354,000 after purchasing an additional 4,527 shares during the last quarter. Birchcreek Wealth Management LLC increased its stake in shares of Coca-Cola by 12.6% in the fourth quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock worth $267,000 after buying an additional 507 shares during the last quarter. HF Advisory Group LLC boosted its stake in Coca-Cola by 7.6% during the 3rd quarter. HF Advisory Group LLC now owns 6,770 shares of the company’s stock valued at $379,000 after acquiring an additional 476 shares during the last quarter. Wahed Invest LLC grew its holdings in Coca-Cola by 10.3% during the 3rd quarter. Wahed Invest LLC now owns 61,355 shares of the company’s stock worth $3,435,000 after acquiring an additional 5,707 shares in the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO increased its position in shares of Coca-Cola by 3.2% in the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 46,470 shares of the company’s stock worth $2,738,000 after purchasing an additional 1,455 shares during the last quarter. Hedge funds and other 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.