Coca-Cola (NYSE:KO) Trading 0.4% Higher

The Coca-Cola Company (NYSE:KO)’s stock price shot up 0.4% during trading on Wednesday . The company traded as high as $72.38 and last traded at $72.06. 1,624,455 shares changed hands during trading, a decline of 88% from the average session volume of 13,078,382 shares. The stock had previously closed at $71.80.

Wall Street Analyst Weigh In

A number of analysts have commented on KO shares. Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Morgan Stanley increased their price target on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. BNP Paribas assumed coverage on Coca-Cola in a research report on Monday, June 24th. They issued an “outperform” rating and a $72.00 target price on the stock. TD Cowen upped their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $71.07.

Coca-Cola Stock Up 0.6 %

The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The company’s 50-day simple moving average is $68.65 and its 200 day simple moving average is $64.13. The firm has a market cap of $311.12 billion, a P/E ratio of 28.82, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60.

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

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.485 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.69%. Coca-Cola’s payout ratio is currently 77.60%.

Insider Buying and Selling at Coca-Cola

In other news, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the transaction, the insider now directly owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the sale, the insider now owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. In the last quarter, insiders have sold 974,715 shares of company stock valued at $579,704,927. Company insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Coca-Cola

Several hedge funds have recently added to or reduced their stakes in KO. Gilbert & Cook Inc. boosted its position in Coca-Cola by 5.6% in the 4th quarter. Gilbert & Cook Inc. now owns 15,971 shares of the company’s stock worth $941,000 after purchasing an additional 841 shares in the last quarter. Accretive Wealth Partners LLC increased its holdings in Coca-Cola by 1.4% in the fourth quarter. Accretive Wealth Partners LLC now owns 25,843 shares of the company’s stock valued at $1,523,000 after buying an additional 351 shares in the last quarter. Aveo Capital Partners LLC raised its position in shares of Coca-Cola by 13.9% in the fourth quarter. Aveo Capital Partners LLC now owns 9,709 shares of the company’s stock worth $572,000 after acquiring an additional 1,182 shares during the period. Gryphon Financial Partners LLC boosted its stake in shares of Coca-Cola by 72.0% during the 4th quarter. Gryphon Financial Partners LLC now owns 17,973 shares of the company’s stock worth $1,034,000 after acquiring an additional 7,521 shares in the last quarter. Finally, Hillsdale Investment Management Inc. increased its stake in shares of Coca-Cola by 10.5% in the 4th quarter. Hillsdale Investment Management Inc. now owns 8,604 shares of the company’s stock valued at $507,000 after purchasing an additional 820 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

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.