Insider Selling: CocaCola (NYSE:KO) EVP Sells $947,411.64 in Stock

CocaCola Company (The) (NYSE:KO) EVP Monica Howard Douglas sold 13,548 shares of CocaCola stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $69.93, for a total value of $947,411.64. Following the sale, the executive vice president directly owned 37,725 shares of the company’s stock, valued at approximately $2,638,109.25. This represents a 26.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

CocaCola Trading Up 1.0%

CocaCola stock opened at $69.02 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company has a market capitalization of $296.88 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. The stock has a 50-day moving average price of $67.76 and a 200 day moving average price of $69.71.

CocaCola (NYSE:KO) last released its earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%.The firm had revenue of $11.40 billion during the quarter. Sell-side analysts anticipate that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.0%. CocaCola’s payout ratio is 67.55%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on KO. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. Cowen reissued a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. Barclays reissued an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. TD Cowen boosted their price objective on CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Finally, BNP Paribas reissued an “outperform” rating and issued a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $78.31.

Hedge Funds Weigh In On CocaCola

Institutional investors and hedge funds have recently modified their holdings of the business. MorganRosel Wealth Management LLC purchased a new stake in shares of CocaCola in the first quarter valued at approximately $25,000. 1248 Management LLC purchased a new stake in shares of CocaCola in the first quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd increased its position in shares of CocaCola by 5,142.9% in the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after buying an additional 360 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of CocaCola in the second quarter valued at approximately $26,000. Finally, Marquette Asset Management LLC purchased a new stake in shares of CocaCola in the third quarter valued at approximately $27,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

About CocaCola

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.