Coca-Cola (NYSE:KO) Stock Price Up 0.1% – Here’s Why

The Coca-Cola Company (NYSE:KO)’s share price rose 0.1% during trading on Tuesday . The stock traded as high as $62.43 and last traded at $62.11. Approximately 1,341,095 shares traded hands during trading, a decline of 90% from the average daily volume of 13,941,795 shares. The stock had previously closed at $62.03.

Analyst Ratings Changes

KO has been the subject of several analyst reports. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Truist Financial lifted their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Barclays cut their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $72.50.

Coca-Cola Trading Up 0.4 %

The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The stock has a market capitalization of $268.20 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 3.83 and a beta of 0.61. The business has a 50 day simple moving average of $63.58 and a 200-day simple moving average of $66.56.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Coca-Cola’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 earnings per share. As a group, equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $0.485 per share. The ex-dividend date was Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.12%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.97% of the stock is owned by insiders.

Institutional Trading of Coca-Cola

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP acquired a new stake in Coca-Cola during the second quarter worth approximately $27,000. Hara Capital LLC acquired a new stake in Coca-Cola during the third quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola during the third quarter worth approximately $36,000. Mount Lucas Management LP acquired a new stake in Coca-Cola during the second quarter worth approximately $38,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Coca-Cola during the third quarter worth approximately $43,000. 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.