Coca-Cola (NYSE:KO) Stock Price Down 0.9% – Here’s What Happened

The Coca-Cola Company (NYSE:KO)’s share price was down 0.9% on Monday . The company traded as low as $69.37 and last traded at $69.54. Approximately 2,680,979 shares changed hands during trading, a decline of 80% from the average daily volume of 13,222,229 shares. The stock had previously closed at $70.17.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective 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. Truist Financial boosted their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. lifted their target price on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Barclays increased their target price on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, TD Cowen lifted their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.07.

Coca-Cola Trading Up 0.1 %

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 has a market cap of $298.37 billion, a price-to-earnings ratio of 27.66, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60. The business’s fifty day moving average price is $70.43 and its 200 day moving average price is $65.27.

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

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.80%. Coca-Cola’s payout ratio is 77.60%.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Quincey sold 102,533 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 376,096 shares of company stock valued at $25,982,352. 0.97% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Apella Capital LLC increased its holdings in shares of Coca-Cola by 1.4% during the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock valued at $748,000 after acquiring an additional 146 shares in the last quarter. Elwood & Goetz Wealth Advisory Group LLC increased its stake in Coca-Cola by 2.2% during the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after purchasing an additional 149 shares in the last quarter. Drive Wealth Management LLC raised its holdings in Coca-Cola by 1.6% in the second quarter. Drive Wealth Management LLC now owns 9,824 shares of the company’s stock worth $630,000 after buying an additional 151 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in Coca-Cola by 4.4% in the second quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock worth $231,000 after buying an additional 153 shares during the last quarter. Finally, Chapin Davis Inc. grew its holdings in shares of Coca-Cola by 1.0% during the third quarter. Chapin Davis Inc. now owns 15,312 shares of the company’s stock valued at $1,100,000 after buying an additional 153 shares during the last quarter. 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.