CocaCola (NYSE:KO) Trading Down 1.6% – Here’s What Happened

CocaCola Company (The) (NYSE:KO) fell 1.6% during mid-day trading on Monday . The stock traded as low as $71.93 and last traded at $71.9630. 14,361,703 shares traded hands during trading, a decline of 14% from the average session volume of 16,759,756 shares. The stock had previously closed at $73.12.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KO. Evercore ISI restated an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. UBS Group dropped their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, September 11th. Piper Sandler raised their price objective on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. Finally, Barclays restated an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $78.43.

CocaCola Trading Down 1.6%

The firm has a fifty day moving average of $69.03 and a 200 day moving average of $69.56. The firm has a market capitalization of $309.56 billion, a PE ratio of 23.83, a P/E/G ratio of 3.57 and a beta of 0.43. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21.

CocaCola (NYSE:KO) last issued its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. The company had revenue of $11.40 billion during the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. Equities research analysts expect that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 annualized dividend and a yield of 2.8%. CocaCola’s payout ratio is 67.55%.

Insider Buying and Selling

In other news, COO Henrique Braun sold 40,390 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the completion of the sale, the chief operating officer directly owned 62,621 shares in the company, valued at $4,441,707.53. This trade represents a 39.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Max R. Levchin purchased 7,206 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was acquired at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the purchase, the director owned 14,267 shares of the company’s stock, valued at approximately $996,835.29. This represents a 102.05% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 225,252 shares of company stock worth $15,953,007 over the last quarter. Company insiders own 0.97% of the company’s stock.

Institutional Trading of CocaCola

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Requisite Capital Management LLC increased its position in shares of CocaCola by 2.8% in the 2nd quarter. Requisite Capital Management LLC now owns 5,285 shares of the company’s stock worth $377,000 after purchasing an additional 142 shares during the last quarter. Apexium Financial LP grew its stake in CocaCola by 1.2% in the third quarter. Apexium Financial LP now owns 12,154 shares of the company’s stock worth $810,000 after purchasing an additional 142 shares in the last quarter. Prosperity Financial Group Inc. increased its holdings in CocaCola by 3.9% in the third quarter. Prosperity Financial Group Inc. now owns 3,957 shares of the company’s stock valued at $262,000 after buying an additional 148 shares during the last quarter. Paulson Wealth Management Inc. raised its stake in CocaCola by 2.2% during the second quarter. Paulson Wealth Management Inc. now owns 6,773 shares of the company’s stock valued at $479,000 after buying an additional 149 shares in the last quarter. Finally, Summitry LLC lifted its holdings in CocaCola by 1.9% during the 2nd quarter. Summitry LLC now owns 7,865 shares of the company’s stock worth $556,000 after buying an additional 149 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

About CocaCola

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.