Coca-Cola (NYSE:KO) Shares Up 0.3%

The Coca-Cola Company (NYSE:KO) shares were up 0.3% during mid-day trading on Friday . The company traded as high as $70.91 and last traded at $70.85. 5,488,242 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 13,086,142 shares. The stock had previously closed at $70.62.

Analyst Ratings Changes

KO has been the subject of a number of research analyst reports. Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Wells Fargo & Company upped their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday. BNP Paribas began coverage on Coca-Cola in a research report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective for the company. Bank of America upped their target price on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Morgan Stanley boosted their price target on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.07.

Coca-Cola Stock Up 0.5 %

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 firm has a market cap of $305.69 billion, a PE ratio of 28.34, a P/E/G ratio of 3.93 and a beta of 0.60. The firm’s 50 day moving average is $68.98 and its 200-day moving average is $64.22.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The company 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%. Coca-Cola’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 earnings per share. As a group, equities research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Friday, September 13th. Coca-Cola’s payout ratio is currently 77.60%.

Insider Transactions at Coca-Cola

In related news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the sale, 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 document filed with the SEC, which is available through the SEC website. In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the transaction, the insider now owns 1,883,546 shares in the company, valued at $1,742,280,050. The disclosure for this sale can be found here. Insiders sold 974,715 shares of company stock valued at $579,704,927 over the last 90 days. Corporate insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of KO. New Millennium Group LLC acquired a new position in shares of Coca-Cola in the 2nd quarter worth approximately $26,000. Quarry LP acquired a new stake in shares of Coca-Cola during the second quarter worth approximately $27,000. Tidemark LLC acquired a new stake in shares of Coca-Cola during the fourth quarter worth approximately $26,000. ESL Trust Services LLC acquired a new stake in shares of Coca-Cola during the first quarter worth approximately $28,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Coca-Cola during the first quarter worth approximately $28,000. 70.26% of the stock is currently owned by 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.