Coca-Cola (NYSE:KO) Shares Up 0.7% – Here’s What Happened

The Coca-Cola Company (NYSE:KO) shares traded up 0.7% during mid-day trading on Wednesday . The stock traded as high as $62.84 and last traded at $62.84. 5,019,131 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 14,059,348 shares. The stock had previously closed at $62.38.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Barclays decreased their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Morgan Stanley decreased their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Truist Financial upped their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, Wells Fargo & Company dropped their price target on Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $72.50.

Coca-Cola Stock Performance

The firm has a market cap of $269.54 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 3.83 and a beta of 0.61. The stock’s fifty day moving average is $64.15 and its two-hundred day moving average is $66.56. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. Coca-Cola’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the business earned $0.74 earnings per share. On average, analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $0.485 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.10%. Coca-Cola’s payout ratio is 80.17%.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.97% of the company’s stock.

Institutional Trading of Coca-Cola

A number of hedge funds and other institutional investors have recently modified their holdings of KO. Quarry LP acquired a new stake in Coca-Cola in the 2nd quarter valued at about $27,000. Hara Capital LLC acquired a new stake in Coca-Cola during the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola during the third quarter worth approximately $36,000. Mount Lucas Management LP acquired a new position in Coca-Cola in the second quarter worth approximately $38,000. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Coca-Cola in the third quarter valued at $43,000. Institutional investors own 70.26% of the company’s stock.

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.