The Coca-Cola Company (NYSE:KO) Insider Nikolaos Koumettis Sells 80,891 Shares of Stock

The Coca-Cola Company (NYSE:KO) insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the completion of the transaction, the insider now owns 218,880 shares in the company, valued at $13,644,979.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Coca-Cola Trading Up 0.0 %

NYSE KO opened at $62.63 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $269.81 billion, a P/E ratio of 25.05, a P/E/G ratio of 3.53 and a beta of 0.59. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.36. The firm has a 50-day moving average price of $61.98 and a 200 day moving average price of $60.53.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The company had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter in the previous year, the firm posted $0.68 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. Equities research analysts expect that The Coca-Cola Company will post 2.82 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.10%. Coca-Cola’s payout ratio is currently 77.60%.

Hedge Funds Weigh In On Coca-Cola

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in Coca-Cola during the fourth quarter worth $2,808,056,000. Price T Rowe Associates Inc. MD raised its stake in shares of Coca-Cola by 21.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after buying an additional 8,733,326 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Coca-Cola by 11,138.6% in the 4th quarter. Fisher Asset Management LLC now owns 4,977,819 shares of the company’s stock worth $293,343,000 after buying an additional 4,933,527 shares in the last quarter. Pathstone Holdings LLC acquired a new stake in Coca-Cola in the 4th quarter valued at about $193,342,000. Finally, Putnam Investments LLC grew its stake in Coca-Cola by 32.8% in the 4th quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock valued at $709,051,000 after acquiring an additional 2,973,234 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on KO shares. Barclays lifted their price target on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. boosted their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. UBS Group boosted their price objective on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, Argus raised their target price 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 22nd. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.55.

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.