Coca-Cola (NYSE:KO) Shares Down 0.1%

Shares of The Coca-Cola Company (NYSE:KO) dropped 0.1% on Monday . The company traded as low as $69.05 and last traded at $69.08. Approximately 1,722,677 shares changed hands during trading, a decline of 87% from the average daily volume of 12,980,195 shares. The stock had previously closed at $69.18.

Analyst Upgrades and Downgrades

KO has been the topic of several recent analyst reports. Citigroup increased their price target on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. UBS Group increased their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. TD Cowen upped their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Morgan Stanley boosted their price target on Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Finally, Evercore ISI boosted their target price on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $70.20.

Coca-Cola Stock Performance

The stock’s 50-day moving average is $65.11 and its 200-day moving average is $62.40. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The stock has a market cap of $297.25 billion, a price-to-earnings ratio of 27.63, a price-to-earnings-growth ratio of 3.80 and a beta of 0.59.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The firm had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 EPS. Analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

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

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the firm’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 transaction, the insider now owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the sale, the insider now directly owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lisa Chang sold 58,122 shares of Coca-Cola 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 transaction, the executive vice president now owns 74,067 shares in the company, valued at $5,074,330.17. The disclosure for this sale can be found here. Insiders sold 871,162 shares of company stock valued at $571,697,887 in the last ninety days. Company insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Coca-Cola

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Elwood & Goetz Wealth Advisory Group LLC boosted its holdings in 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 valued at $437,000 after purchasing an additional 149 shares in the last quarter. Drive Wealth Management LLC lifted its stake 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 valued at $630,000 after acquiring an additional 151 shares during the period. Capital Advisors Ltd. LLC boosted its stake in shares of Coca-Cola by 4.4% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock valued at $231,000 after purchasing an additional 153 shares during the last quarter. Liberty Capital Management Inc. grew its holdings in Coca-Cola by 3.7% during the 2nd quarter. Liberty Capital Management Inc. now owns 4,319 shares of the company’s stock worth $275,000 after acquiring an additional 155 shares during the period. Finally, Azzad Asset Management Inc. ADV grew its stake 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 purchasing an additional 160 shares during the period. 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.