Coca-Cola (NYSE:KO) Shares Down 2.9% – Should You Sell?

The Coca-Cola Company (NYSE:KO) shares were down 2.9% on Monday . The company traded as low as $66.05 and last traded at $67.92. Approximately 12,358,568 shares traded hands during trading, a decline of 18% from the average daily volume of 15,052,727 shares. The stock had previously closed at $69.93.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KO. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. UBS Group increased their price target on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, January 8th. Evercore ISI upped their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $69.00 target price on shares of Coca-Cola in a research note on Thursday, February 6th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.24.

Coca-Cola Trading Up 1.9 %

The firm has a 50 day moving average price of $69.27 and a two-hundred day moving average price of $66.36. The firm has a market capitalization of $300.15 billion, a P/E ratio of 28.24, a price-to-earnings-growth ratio of 3.79 and a beta of 0.45. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

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

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.51 per share. The ex-dividend date was Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.92%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s payout ratio is currently 82.59%.

Insider Buying and Selling

In other Coca-Cola news, insider Nikolaos Koumettis sold 54,708 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the sale, the insider now directly owns 246,909 shares in the company, valued at approximately $17,520,662.64. This trade represents a 18.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total value of $961,317.50. Following the completion of the transaction, the executive vice president now owns 94,676 shares in the company, valued at $6,769,334. This represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 313,423 shares of company stock valued at $22,263,071. Company insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Coca-Cola

Several institutional investors and hedge funds have recently modified their holdings of KO. Crowley Wealth Management Inc. purchased a new position in Coca-Cola in the fourth quarter valued at about $27,000. Mainstream Capital Management LLC bought a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $31,000. REAP Financial Group LLC increased its holdings in Coca-Cola by 57.5% in the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after buying an additional 208 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in Coca-Cola during the fourth quarter valued at approximately $38,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola in the fourth quarter valued at approximately $37,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

About Coca-Cola

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.