Coca-Cola (NYSE:KO) Trading Up 0.9%

The Coca-Cola Company (NYSE:KO) shares traded up 0.9% on Friday . The company traded as high as $72.11 and last traded at $72.04. 2,669,636 shares traded hands during trading, a decline of 80% from the average session volume of 13,238,442 shares. The stock had previously closed at $71.40.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Wells Fargo & Company boosted their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. BNP Paribas initiated coverage on shares of Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted 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. Finally, Morgan Stanley raised their price target on shares of Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $71.07.

Coca-Cola Stock Performance

The company has a 50-day moving average price of $69.69 and a two-hundred day moving average price of $64.64. The company has a market capitalization of $309.40 billion, a PE ratio of 28.82, a PEG ratio of 3.97 and a beta of 0.60. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO) last announced 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 firm had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.78 earnings per share. 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 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. This represents a $1.94 annualized dividend and a yield of 2.70%. The ex-dividend date is Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

Insider Buying and Selling at Coca-Cola

In other news, EVP Nancy Quan sold 19,304 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total value of $1,253,987.84. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $14,507,516.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total value of $1,253,987.84. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,507,516.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The disclosure for this sale can be found here. Insiders have sold a total of 974,715 shares of company stock valued at $579,704,927 in the last 90 days. Corporate insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Coca-Cola

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Elwood & Goetz Wealth Advisory Group LLC raised its position in shares of Coca-Cola by 2.2% in the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after buying an additional 149 shares during the last quarter. Drive Wealth Management LLC boosted its holdings in Coca-Cola by 1.6% in the 2nd quarter. Drive Wealth Management LLC now owns 9,824 shares of the company’s stock valued at $630,000 after purchasing an additional 151 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in shares of Coca-Cola by 4.4% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock valued at $231,000 after buying an additional 153 shares during the period. Liberty Capital Management Inc. lifted its holdings in Coca-Cola by 3.7% in the second quarter. Liberty Capital Management Inc. now owns 4,319 shares of the company’s stock valued at $275,000 after acquiring an additional 155 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV grew its position in Coca-Cola by 0.4% in the second quarter. Azzad Asset Management Inc. ADV now owns 42,407 shares of the company’s stock worth $2,699,000 after acquiring an additional 160 shares during the period. 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.