Coca-Cola (NYSE:KO) Stock Price Up 1.1%

The Coca-Cola Company (NYSE:KO) shares rose 1.1% on Monday . The company traded as high as $70.72 and last traded at $70.56. Approximately 2,309,202 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 12,922,645 shares. The stock had previously closed at $69.79.

Analyst Upgrades and Downgrades

KO has been the subject of a number of research analyst reports. Argus upped their target price on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Evercore ISI upped their target price on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. BNP Paribas initiated coverage on Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective for the company. JPMorgan Chase & Co. increased 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. Finally, Morgan Stanley increased their price objective on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $70.73.

Coca-Cola Price Performance

The stock has a fifty day moving average price of $66.08 and a 200-day moving average price of $62.89. The company has a market cap of $309.10 billion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 3.80 and a beta of 0.59. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92.

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. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. During the same period in the prior year, the business posted $0.78 earnings per share. Coca-Cola’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

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

Insiders Place Their Bets

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the 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 transaction, the insider now directly owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction 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 transaction, the insider now directly owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The disclosure for this sale can be found here. Insiders have sold 1,056,426 shares of company stock valued at $584,650,712 over the last three months. 0.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coca-Cola

Hedge funds have recently bought and sold shares of the company. Elwood & Goetz Wealth Advisory Group LLC increased its position in shares of Coca-Cola by 2.2% during the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock worth $437,000 after buying an additional 149 shares during the period. Drive Wealth Management LLC increased its position in shares of Coca-Cola by 1.6% during the second quarter. Drive Wealth Management LLC now owns 9,824 shares of the company’s stock worth $630,000 after buying an additional 151 shares during the period. Capital Advisors Ltd. LLC increased its position in shares of Coca-Cola by 4.4% during the second quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock worth $231,000 after buying an additional 153 shares during the period. Liberty Capital Management Inc. increased its position in shares of Coca-Cola by 3.7% during the second quarter. Liberty Capital Management Inc. now owns 4,319 shares of the company’s stock worth $275,000 after buying an additional 155 shares during the period. Finally, Azzad Asset Management Inc. ADV increased its position in shares of Coca-Cola by 0.4% during the second quarter. Azzad Asset Management Inc. ADV now owns 42,407 shares of the company’s stock worth $2,699,000 after buying an additional 160 shares during the period. 70.26% of the stock is currently owned by 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.