Insider Selling: The Coca-Cola Company (NYSE:KO) CEO Sells 145,435 Shares of Stock

The Coca-Cola Company (NYSE:KO) CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $24,324,191.46. This represents a 29.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Coca-Cola Stock Performance

NYSE:KO traded up $0.29 during midday trading on Thursday, reaching $71.09. The stock had a trading volume of 9,628,892 shares, compared to its average volume of 16,835,320. The stock has a market cap of $305.77 billion, a P/E ratio of 28.78, a P/E/G ratio of 3.79 and a beta of 0.61. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The firm has a fifty day simple moving average of $64.19 and a two-hundred day simple moving average of $66.47.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. On average, equities analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 2.87%. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Hedge Funds Weigh In On Coca-Cola

Large investors have recently bought and sold shares of the stock. Crowley Wealth Management Inc. purchased a new stake in Coca-Cola during the fourth quarter valued at about $27,000. Hara Capital LLC purchased a new stake in shares of Coca-Cola during the 3rd quarter worth about $35,000. Mainstream Capital Management LLC acquired a new stake in Coca-Cola during the 4th quarter worth approximately $31,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola in the third quarter valued at approximately $36,000. Finally, REAP Financial Group LLC lifted its position in Coca-Cola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock valued at $35,000 after buying an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on KO shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a research report on Thursday, February 6th. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Thursday, February 13th. Finally, Evercore ISI raised their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $73.82.

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.