Coca-Cola (NYSE:KO) Trading Up 1.9% Following Dividend Announcement

The Coca-Cola Company (NYSE:KO)’s share price shot up 1.9% during trading on Friday after the company announced a dividend. The stock traded as high as $71.52 and last traded at $71.38. 5,437,726 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 16,319,519 shares. The stock had previously closed at $70.04.

The newly announced dividend which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a yield of 2.86%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is 78.54%.

Analysts Set New Price Targets

A number of brokerages have weighed in on KO. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. reduced their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Wells Fargo & Company lifted their price target on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Thursday, February 13th. Finally, Morgan Stanley raised their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $73.82.

Coca-Cola Stock Up 1.9 %

The stock has a market capitalization of $307.46 billion, a price-to-earnings ratio of 28.90, a price-to-earnings-growth ratio of 3.79 and a beta of 0.61. The firm has a 50-day moving average of $63.71 and a 200 day moving average of $66.42. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Hedge Funds Weigh In On Coca-Cola

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Investment Partners Asset Management Inc. boosted its holdings in shares of Coca-Cola by 2.2% during the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock worth $500,000 after purchasing an additional 150 shares during the period. Peachtree Investment Partners LLC increased its stake in Coca-Cola by 1.4% in the 4th quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company’s stock valued at $697,000 after buying an additional 157 shares during the period. First Bank & Trust lifted its position in Coca-Cola by 0.6% in the 3rd quarter. First Bank & Trust now owns 27,878 shares of the company’s stock worth $2,003,000 after buying an additional 160 shares in the last quarter. Fort Sheridan Advisors LLC grew its position in Coca-Cola by 3.3% in the fourth quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock worth $311,000 after acquiring an additional 161 shares in the last quarter. Finally, Excalibur Management Corp boosted its holdings in Coca-Cola by 0.6% in the fourth quarter. Excalibur Management Corp now owns 29,412 shares of the company’s stock worth $1,831,000 after purchasing an additional 161 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other 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.