Coca-Cola (NYSE:KO) Trading 0.5% Higher – Here’s Why

The Coca-Cola Company (NYSE:KO) was up 0.5% on Friday . The stock traded as high as $70.28 and last traded at $70.28. Approximately 4,693,155 shares traded hands during trading, a decline of 64% from the average daily volume of 13,112,710 shares. The stock had previously closed at $69.90.

Wall Street Analysts Forecast Growth

KO has been the topic of several recent research reports. Morgan Stanley upped their price objective on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Truist Financial upped their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday. Bank of America lifted their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Citigroup increased their target price on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company raised their price target on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $72.00.

Coca-Cola Stock Up 0.7 %

The company has a market capitalization of $303.15 billion, a P/E ratio of 28.11, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The stock’s fifty day moving average is $70.67 and its 200 day moving average is $65.65.

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

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.76%. Coca-Cola’s payout ratio is 77.60%.

Insider Activity

In other news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Quincey sold 42,397 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 356,792 shares of company stock worth $24,728,364 in the last quarter. 0.97% of the stock is owned by company insiders.

Hedge Funds Weigh In On Coca-Cola

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KO. New Millennium Group LLC bought a new stake in shares of Coca-Cola in the second quarter worth $26,000. Quarry LP purchased a new stake in shares of Coca-Cola during the 2nd quarter valued at about $27,000. ESL Trust Services LLC bought a new position in shares of Coca-Cola in the 1st quarter worth approximately $28,000. Redmont Wealth Advisors LLC purchased a new position in shares of Coca-Cola in the first quarter worth approximately $28,000. Finally, DiNuzzo Private Wealth Inc. grew its position in Coca-Cola by 65.0% during the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after buying an additional 206 shares during the period. 70.26% of the stock is owned by institutional investors.

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.