Coca-Cola (NYSE:KO) Trading Up 1.1%

The Coca-Cola Company (NYSE:KO)’s stock price was up 1.1% during mid-day trading on Tuesday . The company traded as high as $72.75 and last traded at $72.68. Approximately 3,288,441 shares were traded during trading, a decline of 75% from the average daily volume of 13,259,185 shares. The stock had previously closed at $71.86.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on KO shares. JPMorgan Chase & Co. boosted their price objective on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Royal Bank of Canada boosted their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday. Truist Financial boosted their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Bank of America boosted their price objective on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $71.07.

Coca-Cola Stock Performance

The firm has a market capitalization of $309.40 billion, a P/E ratio of 29.07, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The stock has a 50-day moving average of $69.96 and a 200 day moving average of $64.85.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. The business 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 firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 EPS. On average, research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Friday, September 13th. Coca-Cola’s dividend payout ratio is 77.60%.

Insider Buying and Selling at Coca-Cola

In other news, EVP Nancy Quan sold 19,304 shares of the firm’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 owns 223,330 shares in the company, valued at approximately $14,507,516.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,507,516.80. The disclosure for this sale can be found here. Insiders have sold 974,715 shares of company stock valued at $579,704,927 in the last 90 days. 0.97% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coca-Cola

Hedge funds and other institutional investors have recently made changes to their positions in the business. New Millennium Group LLC acquired a new stake in shares of Coca-Cola in the second quarter valued at approximately $26,000. Quarry LP acquired a new stake in shares of Coca-Cola in the second quarter valued at approximately $27,000. ESL Trust Services LLC acquired a new stake in shares of Coca-Cola in the first quarter valued at approximately $28,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Coca-Cola in the first quarter valued at approximately $28,000. Finally, DiNuzzo Private Wealth Inc. raised its position in shares of Coca-Cola by 65.0% in the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after buying an additional 206 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Company Profile

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.