Short Interest in The Coca-Cola Company (NYSE:KO) Grows By 9.2%

The Coca-Cola Company (NYSE:KO) saw a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 33,660,000 shares, an increase of 9.2% from the October 31st total of 30,820,000 shares. Based on an average daily volume of 15,010,000 shares, the short-interest ratio is currently 2.2 days. Approximately 0.8% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Truist Financial upped their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Morgan Stanley cut their target price 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. Barclays lowered 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. Finally, Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.14.

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.97% of the stock is currently owned by corporate insiders.

Institutional Trading of Coca-Cola

A number of large investors have recently added to or reduced their stakes in KO. New Millennium Group LLC bought a new stake in Coca-Cola in the second quarter worth $26,000. Quarry LP bought a new stake in shares of Coca-Cola in the 2nd quarter worth about $27,000. Hara Capital LLC purchased a new position in shares of Coca-Cola during the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Coca-Cola during the 3rd quarter valued at about $36,000. Finally, Mount Lucas Management LP purchased a new stake in Coca-Cola in the 2nd quarter worth about $38,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

NYSE:KO traded down $0.12 during mid-day trading on Tuesday, hitting $63.53. 24,870,474 shares of the company traded hands, compared to its average volume of 13,602,822. The stock’s fifty day moving average price is $66.75 and its 200-day moving average price is $66.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. Coca-Cola has a one year low of $57.47 and a one year high of $73.53. The firm has a market cap of $273.67 billion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 3.87 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. Coca-Cola’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 EPS. Research analysts anticipate that Coca-Cola will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.05%. Coca-Cola’s payout ratio is 80.17%.

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.