Coca-Cola (NYSE:KO) Stock Price Down 0.8% – Here’s Why

The Coca-Cola Company (NYSE:KO)’s stock price traded down 0.8% during trading on Tuesday . The company traded as low as $65.81 and last traded at $66.12. 3,996,026 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 13,194,393 shares. The stock had previously closed at $66.67.

Wall Street Analyst Weigh In

Several analysts have issued reports on KO shares. JPMorgan Chase & Co. increased their target price on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Wells Fargo & Company increased their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Truist Financial raised their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $71.80.

Coca-Cola Trading Down 0.5 %

The firm has a market cap of $282.59 billion, a PE ratio of 27.12, a price-to-earnings-growth ratio of 3.91 and a beta of 0.60. The company has a 50-day simple moving average of $70.47 and a 200 day simple moving average of $66.22. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the business earned $0.74 earnings per share. As a group, sell-side analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 2.96%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Insider Activity

In other news, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 319,005 shares of company stock worth $22,198,147 over the last three months. 0.97% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Bridgewater Advisors Inc. lifted its holdings in Coca-Cola by 9.2% during the 3rd quarter. Bridgewater Advisors Inc. now owns 15,713 shares of the company’s stock worth $1,030,000 after buying an additional 1,326 shares in the last quarter. Walkner Condon Financial Advisors LLC increased its position in shares of Coca-Cola by 16.2% during the third quarter. Walkner Condon Financial Advisors LLC now owns 4,629 shares of the company’s stock worth $333,000 after acquiring an additional 645 shares during the period. Baugh & Associates LLC raised its stake in shares of Coca-Cola by 11.5% in the third quarter. Baugh & Associates LLC now owns 4,582 shares of the company’s stock valued at $329,000 after acquiring an additional 473 shares in the last quarter. Advisor Resource Council purchased a new position in Coca-Cola in the third quarter valued at $769,000. Finally, Graypoint LLC grew its position in shares of Coca-Cola by 5.2% during the third quarter. Graypoint LLC now owns 36,910 shares of the company’s stock worth $2,652,000 after buying an additional 1,836 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

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.