Coca-Cola (NYSE:KO) Trading Down 0%

The Coca-Cola Company (NYSE:KO)’s stock price was down 0% on Wednesday . The company traded as low as $62.66 and last traded at $62.88. Approximately 1,231,059 shares were traded during trading, a decline of 91% from the average daily volume of 13,406,329 shares. The stock had previously closed at $62.91.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on KO shares. JPMorgan Chase & Co. increased their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Barclays increased their price objective on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Argus increased their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday. Evercore ISI increased their price objective on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Finally, UBS Group increased their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $68.58.

Coca-Cola Stock Performance

The company has a market capitalization of $267.09 billion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 3.58 and a beta of 0.57. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04. The company’s fifty day simple moving average is $61.03 and its two-hundred day simple moving average is $59.84.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. The company had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $0.68 EPS. Equities research analysts predict that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a $0.485 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.13%. Coca-Cola’s payout ratio is currently 77.60%.

Insider Transactions at Coca-Cola

In other news, EVP Henrique Braun sold 57,298 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $63.08, for a total value of $3,614,357.84. Following the transaction, the executive vice president now directly owns 52,466 shares in the company, valued at approximately $3,309,555.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Henrique Braun sold 57,298 shares of Coca-Cola stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $63.08, for a total value of $3,614,357.84. Following the sale, the executive vice president now directly owns 52,466 shares in the company, valued at approximately $3,309,555.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Nancy Quan sold 57,368 shares of Coca-Cola stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the completion of the sale, the executive vice president now 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 three months, insiders have sold 199,389 shares of company stock worth $12,322,179. 0.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Coca-Cola

Several hedge funds have recently made changes to their positions in KO. WealthPlan Investment Management LLC grew its stake in shares of Coca-Cola by 8.5% in the 3rd quarter. WealthPlan Investment Management LLC now owns 6,754 shares of the company’s stock worth $378,000 after purchasing an additional 531 shares during the last quarter. Breakwater Capital Group increased its position in shares of Coca-Cola by 28.0% in the third quarter. Breakwater Capital Group now owns 7,907 shares of the company’s stock worth $446,000 after acquiring an additional 1,728 shares in the last quarter. Lincoln National Corp increased its position in shares of Coca-Cola by 2.4% in the third quarter. Lincoln National Corp now owns 70,222 shares of the company’s stock worth $3,931,000 after acquiring an additional 1,671 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Coca-Cola by 1.8% in the third quarter. Victory Capital Management Inc. now owns 2,803,301 shares of the company’s stock worth $156,929,000 after acquiring an additional 50,419 shares in the last quarter. Finally, Meyer Handelman Co. boosted its holdings in shares of Coca-Cola by 27.9% during the third quarter. Meyer Handelman Co. now owns 300,123 shares of the company’s stock worth $16,801,000 after purchasing an additional 65,473 shares during the period. Institutional investors and hedge funds 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.