Coca-Cola (NYSE:KO) Trading Up 0.5%

The Coca-Cola Company (NYSE:KO)’s stock price traded up 0.5% on Friday . The stock traded as high as $69.05 and last traded at $68.99. 2,919,434 shares were traded during mid-day trading, a decline of 78% from the average session volume of 12,987,283 shares. The stock had previously closed at $68.65.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KO. Bank of America raised their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Morgan Stanley lifted their target price on Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. TD Cowen increased their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Truist Financial raised their price objective on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Evercore ISI increased their target price on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.20.

Coca-Cola Price Performance

The company’s 50-day simple moving average is $65.01 and its 200 day simple moving average is $62.30. 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 company has a market cap of $297.81 billion, a PE ratio of 27.60, a PEG ratio of 3.80 and a beta of 0.59.

Coca-Cola (NYSE:KO) last released 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 during the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. Coca-Cola’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 EPS. On average, sell-side analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.81%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Insiders Place Their Bets

In related news, EVP Lisa Chang sold 58,122 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total value of $3,981,938.22. Following the transaction, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,074,330.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Lisa Chang sold 58,122 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the completion of the sale, the executive vice president now owns 74,067 shares in the company, valued at $5,074,330.17. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the completion of the transaction, the insider now owns 218,880 shares in the company, valued at $13,644,979.20. The disclosure for this sale can be found here. Insiders sold 871,162 shares of company stock worth $571,697,887 in the last 90 days. Corporate insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Coca-Cola

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tidemark LLC purchased a new position in Coca-Cola during the 4th quarter worth approximately $26,000. New Millennium Group LLC purchased a new position in shares of Coca-Cola during the second quarter worth approximately $26,000. Private Wealth Management Group LLC acquired a new position in shares of Coca-Cola in the 4th quarter valued at $27,000. Quarry LP purchased a new stake in Coca-Cola in the 2nd quarter valued at $27,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Coca-Cola in the 1st quarter valued at $28,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

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.