Coca-Cola (NYSE:KO) Trading Down 0.1% Following Insider Selling

The Coca-Cola Company (NYSE:KO)’s stock price fell 0.1% on Friday following insider selling activity. The company traded as low as $69.18 and last traded at $69.25. 1,550,836 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 12,927,257 shares. The stock had previously closed at $69.33.

Specifically, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa Chang sold 40,334 shares of Coca-Cola stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the transaction, the executive vice president now owns 74,067 shares in the company, valued at approximately $5,150,619.18. The disclosure for this sale can be found here.

Analyst Ratings Changes

A number of analysts have recently weighed in on KO shares. Argus raised their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Bank of America upped their price target on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Royal Bank of Canada raised their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, TD Cowen boosted their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $70.20.

Coca-Cola Stock Performance

The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $300.57 billion, a PE ratio of 27.91, a PEG ratio of 3.80 and a beta of 0.59. The firm has a 50 day moving average price of $65.74 and a 200-day moving average price of $62.69.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. During the same quarter in the prior year, the company earned $0.78 EPS. Coca-Cola’s quarterly revenue was up 3.3% on a year-over-year basis. Research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.78%. Coca-Cola’s dividend payout ratio is presently 77.60%.

Institutional Investors Weigh In On Coca-Cola

Several hedge funds have recently added to or reduced their stakes in the business. Patrick M Sweeney & Associates Inc. purchased a new position in shares of Coca-Cola during the 4th quarter valued at approximately $410,000. Beacon Pointe Advisors LLC increased its holdings in Coca-Cola by 24.7% in the fourth quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock valued at $26,549,000 after buying an additional 89,139 shares in the last quarter. Birchcreek Wealth Management LLC raised its position in shares of Coca-Cola by 12.6% in the fourth quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock worth $267,000 after acquiring an additional 507 shares during the period. Smart Money Group LLC boosted its stake in shares of Coca-Cola by 21.6% during the 4th quarter. Smart Money Group LLC now owns 4,932 shares of the company’s stock worth $291,000 after acquiring an additional 877 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew its position in shares of Coca-Cola by 13.4% during the 4th quarter. Hexagon Capital Partners LLC now owns 12,621 shares of the company’s stock valued at $744,000 after acquiring an additional 1,495 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

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.