Coca-Cola Company (The) (NYSE:KO – Get Free Report)’s share price reached a new 52-week high on Monday. The stock traded as high as $95.37 and last traded at $95.4130, with a volume of 8,318,569 shares changing hands. The stock had previously closed at $94.08.
Analyst Upgrades and Downgrades
KO has been the topic of several recent research reports. Jefferies Financial Group lifted their price target on Coca-Cola from $95.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Citigroup boosted their target price on Coca-Cola from $102.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, October 28th. BNP Paribas Exane upped their price target on Coca-Cola from $90.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. CICC Research lifted their price objective on shares of Coca-Cola from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Finally, Weiss Ratings lowered shares of Coca-Cola from a “buy (a+)” rating to a “buy (a)” rating in a research report on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $97.26.
Read Our Latest Research Report on KO
Coca-Cola Stock Up 2.0%
The firm has a market cap of $412.63 billion, a P/E ratio of 28.20, a P/E/G ratio of 3.67 and a beta of 0.28. The firm’s fifty day moving average is $89.47 and its 200 day moving average is $82.07. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.19 and a current ratio of 1.38.
Coca-Cola (NYSE:KO – Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Coca-Cola had a return on equity of 38.79% and a net margin of 28.65%. The company had revenue of $13.35 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts anticipate that Coca-Cola Company will post 3.34 earnings per share for the current fiscal year.
Coca-Cola Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, December 1st. Coca-Cola’s dividend payout ratio is presently 62.35%.
Insider Transactions at Coca-Cola
In other news, EVP Nancy Quan sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $90.39, for a total transaction of $4,519,500.00. Following the completion of the sale, the executive vice president owned 223,330 shares of the company’s stock, valued at approximately $20,186,798.70. This represents a 18.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Bruno Pietracci sold 111,365 shares of Coca-Cola stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $90.93, for a total value of $10,126,419.45. Following the completion of the transaction, the insider owned 41,365 shares in the company, valued at approximately $3,761,319.45. The trade was a 72.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 171,323 shares of company stock valued at $15,507,286. 0.90% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Coca-Cola
Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in Coca-Cola by 9.5% in the first quarter. Bank of America Corp DE now owns 44,018,963 shares of the company’s stock worth $3,347,642,000 after purchasing an additional 3,836,640 shares in the last quarter. OMERS ADMINISTRATION Corp raised its position in shares of Coca-Cola by 1,763.2% during the first quarter. OMERS ADMINISTRATION Corp now owns 3,383,332 shares of the company’s stock worth $257,302,000 after purchasing an additional 3,201,742 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in Coca-Cola during the third quarter worth $260,682,000. Wellington Management Group LLP increased its holdings in Coca-Cola by 9.2% during the 2nd quarter. Wellington Management Group LLP now owns 29,053,752 shares of the company’s stock worth $2,361,198,000 after purchasing an additional 2,439,026 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt bought a new position in Coca-Cola during the 2nd quarter valued at $197,470,000. Institutional investors and hedge funds own 70.26% of the company’s stock.
Coca-Cola Company Profile
The Coca-Cola Company (NYSE: KO) is a global beverage company headquartered in Atlanta, Georgia. Founded in 1886, it is best known for Coca-Cola, one of the world’s most recognized soft drink brands.
The company owns, licenses, and markets a broad portfolio of beverages, including sparkling soft drinks, water, sports drinks, coffee, tea, juice, dairy and plant-based beverages, and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, Dasani, smartwater, Powerade, Minute Maid, Simply, fairlife, and Costa Coffee, among others.
The Coca-Cola Company serves consumers in more than 200 countries and territories through a system that includes company-operated operations, independent bottling partners, distributors, retailers, and food-service providers.
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