Coca-Cola (NYSE:KO) Stock: Insider Nancy Quan Sells 20,585 Shares

Coca-Cola Company (The) (NYSE:KO) EVP Nancy Quan sold 20,585 shares of the firm’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $95.62, for a total value of $1,968,337.70. Following the completion of the transaction, the executive vice president directly owned 223,330 shares in the company, valued at approximately $21,354,814.60. This represents a 8.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nancy Quan also recently made the following trade(s):

• On Wednesday, August 19th, Nancy Quan sold 50,000 shares of Coca-Cola stock. The shares were sold at an average price of $90.39, for a total value of $4,519,500.00.

Coca-Cola Trading Up 0.9%

Shares of NYSE:KO opened at $96.94 on Wednesday. The company has a current ratio of 1.38, a quick ratio of 1.19 and a debt-to-equity ratio of 0.93. Coca-Cola Company has a 12-month low of $67.27 and a 12-month high of $97.39. The company has a market cap of $417.01 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 3.75 and a beta of 0.28. The stock has a 50 day moving average of $90.25 and a 200 day moving average of $82.93.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, October 27th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Coca-Cola had a net margin of 28.65% and a return on equity of 38.79%. The firm had revenue of $13.35 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same period in the prior year, the company posted $0.82 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, equities research analysts expect that Coca-Cola Company will post 3.34 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a dividend of $0.53 per share. The ex-dividend date is Tuesday, December 1st. This represents a $2.12 annualized dividend and a dividend yield of 2.2%. Coca-Cola’s dividend payout ratio (DPR) is currently 62.35%.

Institutional Investors Weigh In On Coca-Cola

A number of hedge funds have recently made changes to their positions in KO. Guardian Partners Inc. bought a new position in shares of Coca-Cola during the 2nd quarter valued at approximately $27,000. Horizons Wealth Management bought a new stake in Coca-Cola in the third quarter worth $31,000. Atomic Invest LLC increased its position in Coca-Cola by 38.7% in the second quarter. Atomic Invest LLC now owns 437 shares of the company’s stock worth $36,000 after purchasing an additional 122 shares during the last quarter. Timbuktu Capital Management LLC purchased a new stake in Coca-Cola during the second quarter valued at $41,000. Finally, Putney Financial Group LLC purchased a new stake in Coca-Cola during the third quarter valued at $43,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Coca-Cola

Here are the key news stories impacting Coca-Cola this week:

• Positive Sentiment: Coca-Cola’s push into functional beverages is gaining traction, with fairlife, Powerade and smartwater growth, alongside innovation and capacity expansion, offering potential avenues for growth. Can Coca-Cola Benefit From Rising Demand for Functional Drinks?
• Positive Sentiment: Several articles emphasize KO’s durable brands and its 64-year record of dividend increases, reinforcing its appeal to long-term income investors. One report also notes Berkshire Hathaway receives about $848 million annually in dividends from its Coca-Cola investment. Coca-Cola’s Dividend Has Grown 64 Years in a Row Warren Buffett’s Coca-Cola Investment
• Neutral Sentiment: Coca-Cola India is advancing draft papers for an IPO. The report does not specify how the offering could affect KO financially. Coca-Cola India IPO moves forward with draft papers
• Neutral Sentiment: EVP Nancy Quan sold shares to cover tax withholding on vested equity awards and retained a substantial stake, making the transaction less informative as a signal about her outlook. Coca-Cola EVP Nancy Quan Sells Shares
• Negative Sentiment: Some commentary cautions that KO’s share-price gains have outpaced revisions to its earnings outlook, raising valuation concerns. Higher real Treasury yields and competing bond yields could also make dividend stocks less attractive to some investors. Coca-Cola Stock Keeps Setting Records Treasuries Now Offer 2.66% Above Inflation

Analyst Ratings Changes

KO has been the topic of a number of research analyst reports. HSBC boosted their price target on Coca-Cola from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. TD Cowen increased their price objective on shares of Coca-Cola from $100.00 to $104.00 and gave the company a “buy” rating in a report on Wednesday, October 28th. Citigroup lifted their price objective on shares of Coca-Cola from $102.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. Daiwa Securities Group boosted their target price on shares of Coca-Cola from $83.00 to $93.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of Coca-Cola from $95.00 to $98.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $97.26.

About Coca-Cola

The Coca-Cola Company (NYSE: KO) is a global beverage company headquartered in Atlanta, Georgia. Founded in 1886, it is best known for Coca-Cola, one of the world’s most recognized soft drink brands. The company owns, licenses, and markets a broad portfolio of beverages, including sparkling soft drinks, water, sports drinks, coffee, tea, juice, dairy and plant-based beverages, and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, Dasani, smartwater, Powerade, Minute Maid, Simply, fairlife, and Costa Coffee, among others.