Coca-Cola (NYSE:KO) Trading Up 0.9% – Here’s Why

The Coca-Cola Company (NYSE:KO)’s share price rose 0.9% during mid-day trading on Monday . The stock traded as high as $72.11 and last traded at $72.08. Approximately 3,056,186 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 15,296,380 shares. The stock had previously closed at $71.43.

Analysts Set New Price Targets

A number of research firms have recently commented on KO. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Wednesday, January 8th. Morgan Stanley increased their price objective 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. Barclays restated an “overweight” rating on shares of Coca-Cola in a report on Thursday, March 27th. Finally, Evercore ISI increased their target price on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.24.

Coca-Cola Trading Down 0.8 %

The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The business has a 50 day moving average price of $69.96 and a 200-day moving average price of $66.36. The company has a market cap of $309.37 billion, a P/E ratio of 29.10, a PEG ratio of 3.79 and a beta of 0.45.

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

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors 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 yield of 2.84%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is presently 82.59%.

Insider Buying and Selling at Coca-Cola

In related news, insider Bruno Pietracci sold 19,058 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $24,324,191.46. This trade represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock worth $22,263,071 over the last 90 days. Company insiders own 0.90% of the company’s stock.

Institutional Trading of Coca-Cola

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

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.