Coca-Cola (NYSE:KO) Trading Down 0.8% – Time to Sell?

Shares of The Coca-Cola Company (NYSE:KO) traded down 0.8% during mid-day trading on Tuesday . The company traded as low as $65.81 and last traded at $66.12. 3,996,026 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 13,194,393 shares. The stock had previously closed at $66.67.

Analyst Upgrades and Downgrades

KO has been the topic of several research reports. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Royal Bank of Canada lifted their price target on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Wells Fargo & Company increased their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Truist Financial boosted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Barclays cut their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $71.80.

Coca-Cola Trading Down 1.3 %

The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $283.42 billion, a PE ratio of 26.45, a P/E/G ratio of 3.91 and a beta of 0.60. The stock has a 50 day moving average price of $70.62 and a 200-day moving average price of $66.17.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 EPS. Sell-side analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 77.60%.

Insider Activity

In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 319,005 shares of company stock valued at $22,198,147 in the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Coca-Cola

Institutional investors and hedge funds have recently modified their holdings of the stock. New Millennium Group LLC purchased a new stake in Coca-Cola in the 2nd quarter worth $26,000. Quarry LP bought a new position in Coca-Cola during the second quarter valued at approximately $27,000. ESL Trust Services LLC purchased a new position in Coca-Cola during the 1st quarter valued at approximately $28,000. Redmont Wealth Advisors LLC bought a new stake in Coca-Cola in the 1st quarter worth approximately $28,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola during the 3rd quarter worth approximately $36,000. Institutional investors 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.