Coca-Cola (NYSE:KO) Trading 0.3% Higher – Here’s Why

Shares of The Coca-Cola Company (NYSE:KO) rose 0.3% on Thursday . The company traded as high as $64.35 and last traded at $63.90. Approximately 3,162,388 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 13,223,286 shares. The stock had previously closed at $63.70.

Analyst Upgrades and Downgrades

KO has been the topic of a number of research analyst reports. StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft increased their price objective on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Barclays lowered their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. lifted their price objective on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, TD Cowen increased their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $71.80.

Coca-Cola Trading Down 0.0 %

The stock has a 50-day simple moving average of $69.90 and a 200 day simple moving average of $66.43. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The company has a market cap of $274.28 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 3.96 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the prior year, the company earned $0.74 EPS. Coca-Cola’s quarterly revenue was down .8% on a year-over-year basis. As a group, equities research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.05%. Coca-Cola’s dividend payout ratio is presently 80.17%.

Insiders Place Their Bets

In other news, EVP Lisa Chang sold 40,334 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the completion of the sale, the executive vice president now owns 74,067 shares in the company, valued at $5,150,619.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Lisa Chang sold 40,334 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the transaction, the executive vice president now owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 203,748 shares of company stock valued at $14,274,431. Insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Coca-Cola

Several large investors have recently bought and sold shares of KO. New Millennium Group LLC acquired a new position in Coca-Cola in the second quarter valued at approximately $26,000. Quarry LP purchased a new stake in shares of Coca-Cola during the 2nd quarter worth approximately $27,000. ESL Trust Services LLC acquired a new position in shares of Coca-Cola in the 1st quarter valued at $28,000. Hara Capital LLC purchased a new position in shares of Coca-Cola in the 3rd quarter valued at $35,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola during the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

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.