The Coca-Cola Company (NYSE:KO) EVP Lisa Chang Sells 58,122 Shares

The Coca-Cola Company (NYSE:KO) EVP Lisa Chang sold 58,122 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total value of $3,981,938.22. Following the sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,074,330.17. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Coca-Cola Trading Up 0.9 %

KO stock traded up $0.58 during midday trading on Wednesday, hitting $68.63. The stock had a trading volume of 6,208,676 shares, compared to its average volume of 13,037,513. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $69.67. The firm has a market cap of $295.65 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 3.80 and a beta of 0.59. The company’s 50-day moving average price is $64.24 and its 200 day moving average price is $61.89. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. During the same period in the prior year, the firm posted $0.78 earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.485 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.83%. Coca-Cola’s payout ratio is 77.60%.

Hedge Funds Weigh In On Coca-Cola

Institutional investors and hedge funds have recently bought and sold shares of the stock. Patrick M Sweeney & Associates Inc. purchased a new position in Coca-Cola in the fourth quarter valued at approximately $410,000. Beacon Pointe Advisors LLC increased its position in shares of Coca-Cola by 24.7% in the fourth quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock worth $26,549,000 after acquiring an additional 89,139 shares in the last quarter. Birchcreek Wealth Management LLC raised its stake in shares of Coca-Cola by 12.6% in the 4th quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock valued at $267,000 after acquiring an additional 507 shares during the period. Smart Money Group LLC lifted its holdings in shares of Coca-Cola by 21.6% during the 4th quarter. Smart Money Group LLC now owns 4,932 shares of the company’s stock valued at $291,000 after acquiring an additional 877 shares in the last quarter. Finally, Hexagon Capital Partners LLC boosted its position in Coca-Cola by 13.4% during the 4th quarter. Hexagon Capital Partners LLC now owns 12,621 shares of the company’s stock worth $744,000 after purchasing an additional 1,495 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on KO shares. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Truist Financial increased their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. UBS Group boosted their price target 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. Evercore ISI increased their price objective on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Finally, Barclays boosted their target price on Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.20.

About Coca-Cola

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.