Coca-Cola (NYSE:KO) Shares Down 1.2% – Time to Sell?

The Coca-Cola Company (NYSE:KO) shares traded down 1.2% on Monday . The stock traded as low as $61.75 and last traded at $61.77. 2,620,236 shares changed hands during trading, a decline of 81% from the average session volume of 14,052,564 shares. The stock had previously closed at $62.55.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on KO shares. Morgan Stanley reduced their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Truist Financial upped their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Barclays dropped their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Wells Fargo & Company reduced their target price on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday, December 2nd. Finally, Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Three equities research 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $72.50.

Coca-Cola Price Performance

The firm has a fifty day moving average of $64.76 and a two-hundred day moving average of $66.61. The stock has a market capitalization of $266.22 billion, a P/E ratio of 25.54, a P/E/G ratio of 3.81 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

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

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a dividend of $0.485 per share. The ex-dividend date was Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 3.14%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.97% of the company’s stock.

Institutional Trading of Coca-Cola

A number of institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new stake in Coca-Cola in the 2nd quarter worth approximately $27,000. Hara Capital LLC purchased a new position in shares of Coca-Cola in the third quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola during the third quarter worth $36,000. Mount Lucas Management LP purchased a new stake in shares of Coca-Cola during the second quarter valued at $38,000. Finally, American Capital Advisory LLC grew its holdings in shares of Coca-Cola by 598.0% during the second quarter. American Capital Advisory LLC now owns 705 shares of the company’s stock valued at $42,000 after buying an additional 604 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

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.