Coca-Cola (NYSE:KO) Shares Down 0.3% After Insider Selling

Shares of The Coca-Cola Company (NYSE:KO) fell 0.3% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $62.51 and last traded at $62.99. 2,694,899 shares were traded during mid-day trading, a decline of 80% from the average session volume of 13,246,997 shares. The stock had previously closed at $63.20.

Specifically, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KO. Royal Bank of Canada raised their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Truist Financial raised their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Morgan Stanley cut their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, TD Cowen raised their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $71.80.

Coca-Cola Price Performance

The business’s 50 day moving average is $69.18 and its 200-day moving average is $66.53. The firm has a market capitalization of $271.35 billion, a P/E ratio of 26.03, a PEG ratio of 3.85 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

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

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued 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 dividend yield of 3.08%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Hedge Funds Weigh In On Coca-Cola

A number of hedge funds have recently modified their holdings of KO. William Blair Investment Management LLC lifted its holdings in shares of Coca-Cola by 17.8% during the first quarter. William Blair Investment Management LLC now owns 207,956 shares of the company’s stock worth $12,723,000 after purchasing an additional 31,397 shares during the period. Koshinski Asset Management Inc. lifted its holdings in Coca-Cola by 4.6% in the first quarter. Koshinski Asset Management Inc. now owns 27,953 shares of the company’s stock valued at $1,710,000 after buying an additional 1,242 shares during the period. TD Asset Management Inc lifted its holdings in Coca-Cola by 0.7% in the first quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock valued at $179,578,000 after buying an additional 20,048 shares during the period. Charles Schwab Investment Advisory Inc. acquired a new position in Coca-Cola in the first quarter valued at $219,000. Finally, D Orazio & Associates Inc. lifted its holdings in Coca-Cola by 15.5% in the first quarter. D Orazio & Associates Inc. now owns 8,096 shares of the company’s stock valued at $495,000 after buying an additional 1,084 shares during the period. 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.