Coca-Cola (NYSE:KO) Stock Price Down 0.3%

The Coca-Cola Company (NYSE:KO) shares traded down 0.3% on Tuesday . The stock traded as low as $63.62 and last traded at $63.80. 1,527,556 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 13,085,301 shares. The stock had previously closed at $63.97.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. UBS Group increased their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. upped their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Evercore ISI upped their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Barclays upped their price target on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, Argus upped their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $68.83.

Coca-Cola Price Performance

The stock has a market capitalization of $275.92 billion, a price-to-earnings ratio of 25.62, a P/E/G ratio of 3.61 and a beta of 0.59. 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 business’s 50 day simple moving average is $62.44 and its 200-day simple moving average is $60.69.

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

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.03%. Coca-Cola’s payout ratio is currently 77.60%.

Insider Activity

In other news, insider Nikolaos Koumettis sold 80,891 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the sale, the insider now directly owns 218,880 shares in the company, valued at approximately $13,644,979.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the transaction, the executive vice president now owns 167,107 shares in the company, valued at approximately $10,358,962.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nikolaos Koumettis sold 80,891 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the transaction, the insider now owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 223,665 shares of company stock worth $13,995,465. Corporate insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. ZRC Wealth Management LLC raised its holdings in Coca-Cola by 213.3% during the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after purchasing an additional 320 shares during the last quarter. Tidemark LLC acquired a new stake in shares of Coca-Cola during the 4th quarter worth approximately $26,000. Private Wealth Management Group LLC acquired a new stake in shares of Coca-Cola during the 4th quarter worth approximately $27,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Coca-Cola during the 1st quarter worth approximately $28,000. Finally, ESL Trust Services LLC acquired a new stake in shares of Coca-Cola during the 1st quarter worth approximately $28,000. 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.