Coca-Cola (NYSE:KO) Stock Price Down 1.1% Following Insider Selling

The Coca-Cola Company (NYSE:KO)’s share price traded down 1.1% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $70.64 and last traded at $70.68. 3,512,503 shares changed hands during trading, a decline of 79% from the average session volume of 16,735,299 shares. The stock had previously closed at $71.49.

Specifically, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Barclays increased their price objective on Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Morgan Stanley increased their target price on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Wells Fargo & Company increased their target price on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. dropped their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $73.82.

Coca-Cola Price Performance

The stock has a market cap of $304.53 billion, a P/E ratio of 28.67, a price-to-earnings-growth ratio of 3.79 and a beta of 0.61. The firm has a 50-day moving average price of $64.19 and a 200-day moving average price of $66.47. 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 announced its 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 return on equity of 45.37% and a net margin of 22.59%. On average, analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.51 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 2.88%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio is currently 82.59%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in KO. Crowley Wealth Management Inc. bought a new position in Coca-Cola during the 4th quarter valued at approximately $27,000. Hara Capital LLC bought a new position in Coca-Cola during the 3rd quarter valued at approximately $35,000. Mainstream Capital Management LLC bought a new position in Coca-Cola during the 4th quarter valued at approximately $31,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Coca-Cola during the 3rd quarter valued at approximately $36,000. Finally, MidAtlantic Capital Management Inc. bought a new position in Coca-Cola during the 3rd quarter valued at approximately $43,000. Institutional investors own 70.26% of the company’s stock.

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.