Coca-Cola (NYSE:KO) Trading 0.1% Higher

Shares of The Coca-Cola Company (NYSE:KO) traded up 0.1% during trading on Friday . The stock traded as high as $64.06 and last traded at $63.97. 1,722,458 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 12,997,706 shares. The stock had previously closed at $63.91.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Barclays boosted their target price on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Evercore ISI upped their price objective on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Argus upped their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. BNP Paribas initiated coverage on shares of Coca-Cola in a report on Monday. They set an “outperform” rating and a $72.00 price objective for the company. Finally, Morgan Stanley upped their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and a consensus price target of $68.83.

Coca-Cola Trading Down 0.5 %

The company has a market cap of $273.86 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 3.62 and a beta of 0.59. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04. The business’s 50 day moving average price is $62.55 and its 200-day moving average price is $60.71.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The company had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter in the prior year, the company posted $0.68 EPS. The business’s revenue was up 2.7% on a year-over-year basis. On average, research analysts forecast that The Coca-Cola Company will post 2.82 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Friday, June 14th. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Insider Buying and Selling

In related news, EVP Beatriz R. Perez sold 57,298 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the sale, the executive vice president now owns 167,107 shares in the company, valued at approximately $10,358,962.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the sale, the insider now owns 218,880 shares in the company, valued at approximately $13,644,979.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Beatriz R. Perez sold 57,298 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the sale, the executive vice president now owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The disclosure for this sale can be found here. Insiders sold 223,665 shares of company stock worth $13,995,465 in the last quarter. 0.97% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coca-Cola

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Patrick M Sweeney & Associates Inc. bought a new position in shares of Coca-Cola in the 4th quarter valued at about $410,000. Beacon Pointe Advisors LLC increased its stake in Coca-Cola by 24.7% in the fourth quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock valued at $26,549,000 after purchasing an additional 89,139 shares in the last quarter. Insigneo Advisory Services LLC boosted its holdings in shares of Coca-Cola by 12.2% in the third quarter. Insigneo Advisory Services LLC now owns 41,683 shares of the company’s stock valued at $2,354,000 after buying an additional 4,527 shares during the period. Birchcreek Wealth Management LLC boosted its holdings in shares of Coca-Cola by 12.6% in the fourth quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock valued at $267,000 after buying an additional 507 shares during the period. Finally, Wahed Invest LLC boosted its holdings in shares of Coca-Cola by 10.3% in the third quarter. Wahed Invest LLC now owns 61,355 shares of the company’s stock valued at $3,435,000 after buying an additional 5,707 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

About Coca-Cola

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.