Coca-Cola Company (The) (NYSE:KO) Short Interest Update

Coca-Cola Company (The) (NYSE:KO) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totalling 32,464,803 shares, a drop of 16.8% from the June 15th total of 39,005,066 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average daily trading volume, of 11,192,003 shares, the days-to-cover ratio is presently 2.9 days.

In other Coca-Cola Company (The) news, insider J Alexander Douglas, Jr. sold 22,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $43.25, for a total transaction of $951,500.00. Following the completion of the sale, the insider now owns 319,436 shares in the company, valued at approximately $13,815,607. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Beatriz R. Perez sold 29,282 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $45.20, for a total value of $1,323,546.40. Following the sale, the insider now owns 118,000 shares of the company’s stock, valued at approximately $5,333,600. The disclosure for this sale can be found here. In the last quarter, insiders sold 493,228 shares of company stock valued at $22,024,770. Insiders own 1.51% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Frontier Wealth Management LLC increased its position in shares of Coca-Cola Company (The) by 169.3% in the fourth quarter. Frontier Wealth Management LLC now owns 43,010 shares of the company’s stock valued at $1,783,000 after buying an additional 27,036 shares during the last quarter. Aviva PLC increased its position in shares of Coca-Cola Company (The) by 3.9% in the fourth quarter. Aviva PLC now owns 2,785,095 shares of the company’s stock valued at $115,498,000 after buying an additional 103,851 shares during the last quarter. Asset Management One Co. Ltd. increased its position in shares of Coca-Cola Company (The) by 845.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 7,250,023 shares of the company’s stock valued at $300,667,000 after buying an additional 6,483,151 shares during the last quarter. Good Life Advisors LLC acquired a new position in shares of Coca-Cola Company (The) during the fourth quarter valued at approximately $445,000. Finally, Sii Investments Inc. WI increased its position in shares of Coca-Cola Company (The) by 4.9% in the fourth quarter. Sii Investments Inc. WI now owns 36,035 shares of the company’s stock valued at $1,492,000 after buying an additional 1,672 shares during the last quarter. Institutional investors own 63.94% of the company’s stock.

Shares of Coca-Cola Company (NYSE KO) opened at 44.73 on Tuesday. The company has a 50 day moving average price of $44.99 and a 200 day moving average price of $42.80. Coca-Cola Company has a one year low of $39.88 and a one year high of $46.06. The company has a market cap of $191.11 billion, a P/E ratio of 31.48 and a beta of 0.69.

Coca-Cola Company (The) (NYSE:KO) last released its quarterly earnings data on Tuesday, April 25th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.44 by $0.01. Coca-Cola Company (The) had a net margin of 15.30% and a return on equity of 33.17%. The company had revenue of $9.12 billion during the quarter, compared to the consensus estimate of $8.85 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was down 11.3% on a year-over-year basis. Equities research analysts expect that Coca-Cola Company will post $1.89 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th were paid a $0.37 dividend. The ex-dividend date was Tuesday, June 13th. This represents a $1.48 annualized dividend and a dividend yield of 3.31%. Coca-Cola Company (The)’s dividend payout ratio is currently 103.50%.

A number of equities research analysts have weighed in on the company. Vetr upgraded Coca-Cola Company (The) from a “hold” rating to a “buy” rating and set a $44.81 price objective for the company in a research note on Monday, April 24th. Susquehanna Bancshares Inc set a $38.00 price objective on Coca-Cola Company (The) and gave the company a “hold” rating in a research note on Saturday, March 25th. UBS AG set a $48.00 price objective on Coca-Cola Company (The) and gave the company a “buy” rating in a research note on Tuesday, April 18th. Jefferies Group LLC restated a “neutral” rating and set a $45.00 price objective on shares of Coca-Cola Company (The) in a research note on Tuesday, April 25th. Finally, Sanford C. Bernstein set a $49.00 price objective on Coca-Cola Company (The) and gave the company a “buy” rating in a research note on Monday. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $45.17.

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About Coca-Cola Company (The)

The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.

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