CocaCola (NYSE:KO) EVP Nancy Quan Sells 31,625 Shares

CocaCola Company (The) (NYSE:KO) EVP Nancy Quan sold 31,625 shares of CocaCola stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $71.17, for a total value of $2,250,751.25. Following the completion of the transaction, the executive vice president directly owned 223,330 shares of the company’s stock, valued at approximately $15,894,396.10. This represents a 12.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

CocaCola Stock Down 0.2%

Shares of KO opened at $71.09 on Thursday. The company’s 50-day simple moving average is $68.20 and its 200-day simple moving average is $69.47. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The stock has a market capitalization of $305.79 billion, a PE ratio of 23.54, a P/E/G ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO) last announced its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. The firm had revenue of $11.40 billion for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. Analysts forecast that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, December 1st. CocaCola’s dividend payout ratio (DPR) is presently 67.55%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Bank of America boosted their target price on CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. Piper Sandler raised their target price on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. TD Cowen boosted their price target on shares of CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Finally, Evercore ISI reissued an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating and sixteen have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $78.43.

Hedge Funds Weigh In On CocaCola

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. 1248 Management LLC acquired a new stake in CocaCola during the 1st quarter worth $26,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of CocaCola by 5,142.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after purchasing an additional 360 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of CocaCola during the second quarter worth about $26,000. Marquette Asset Management LLC purchased a new stake in shares of CocaCola in the 3rd quarter valued at about $27,000. Finally, Cloud Capital Management LLC acquired a new stake in shares of CocaCola in the 3rd quarter valued at about $27,000. 70.26% of the stock is owned by institutional investors and hedge funds.

About CocaCola

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.