Coca-Cola (NYSE:KO) Shares Up 0.2% – Still a Buy?

Shares of The Coca-Cola Company (NYSE:KO) rose 0.2% during trading on Monday . The company traded as high as $62.91 and last traded at $62.67. Approximately 5,861,512 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 13,676,378 shares. The stock had previously closed at $62.53.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on KO shares. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Wells Fargo & Company lowered their price objective on Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday, December 2nd. Barclays cut their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Truist Financial boosted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley cut their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average price target of $72.14.

Coca-Cola Stock Up 0.4 %

The company has a market capitalization of $270.53 billion, a PE ratio of 25.90, a PEG ratio of 3.80 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The business has a fifty day moving average of $66.21 and a 200 day moving average of $66.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the previous year, the business posted $0.74 earnings per share. The business’s quarterly revenue was down .8% compared to the same quarter last year. Equities research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.09%. Coca-Cola’s payout ratio is 80.17%.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.97% of the stock is owned by company insiders.

Hedge Funds Weigh In On Coca-Cola

Hedge funds have recently added to or reduced their stakes in the stock. New Millennium Group LLC acquired a new stake in Coca-Cola during the 2nd quarter worth $26,000. Quarry LP purchased a new stake in shares of Coca-Cola in the 2nd quarter valued at about $27,000. Hara Capital LLC acquired a new stake in shares of Coca-Cola in the 3rd quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola during the 3rd quarter worth approximately $36,000. Finally, Mount Lucas Management LP acquired a new position in Coca-Cola during the second quarter worth approximately $38,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

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.