Coca-Cola (NYSE:KO) Shares Up 0% – Here’s Why

The Coca-Cola Company (NYSE:KO)’s share price rose 0% on Friday . The company traded as high as $62.65 and last traded at $62.46. Approximately 5,828,271 shares were traded during trading, a decline of 58% from the average daily volume of 13,949,146 shares. The stock had previously closed at $62.45.

Analysts Set New Price Targets

KO has been the subject of several analyst reports. Wells Fargo & Company cut their price target on Coca-Cola from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, December 2nd. Truist Financial raised their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Morgan Stanley reduced their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Barclays cut their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $72.50.

Coca-Cola Stock Performance

The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $270.31 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 3.81 and a beta of 0.61. The stock has a fifty day moving average price of $64.90 and a two-hundred day moving average price of $66.60.

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

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $0.485 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.09%. Coca-Cola’s payout ratio is 80.17%.

Insider Activity

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.97% of the company’s stock.

Institutional Trading of Coca-Cola

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC lifted its position in shares of Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares during the last quarter. Geode Capital Management LLC lifted its stake in Coca-Cola by 3.3% during the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after purchasing an additional 2,966,964 shares during the last quarter. Legal & General Group Plc increased its stake in Coca-Cola by 2.9% during the second quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock valued at $2,463,373,000 after purchasing an additional 1,084,475 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after purchasing an additional 4,013,996 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of Coca-Cola by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock worth $1,990,407,000 after buying an additional 1,609,565 shares during the last quarter. 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.