Coca-Cola (NYSE:KO) Stock Price Up 1.8%

The Coca-Cola Company (NYSE:KO)’s stock price rose 1.8% on Monday . The company traded as high as $64.03 and last traded at $63.92. Approximately 2,603,683 shares changed hands during trading, a decline of 80% from the average daily volume of 13,087,590 shares. The stock had previously closed at $62.77.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on KO shares. Argus lifted their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. JPMorgan Chase & Co. boosted their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Morgan Stanley increased their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Barclays boosted their price objective on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Finally, BNP Paribas assumed coverage on shares of Coca-Cola in a research report on Monday. They issued an “outperform” rating and a $72.00 price target for the company. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus target price of $68.83.

Coca-Cola Stock Performance

The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The stock’s fifty day moving average is $62.44 and its two-hundred day moving average is $60.69. The firm has a market capitalization of $275.92 billion, a price-to-earnings ratio of 25.62, a P/E/G ratio of 3.61 and a beta of 0.59.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The company had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same period in the prior year, the firm earned $0.68 EPS. Coca-Cola’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts predict that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.03%. The ex-dividend date is Friday, June 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Monica Howard Douglas sold 8,874 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $63.31, for a total value of $561,812.94. Following the sale, the executive vice president now owns 33,638 shares in the company, valued at approximately $2,129,621.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total value of $3,551,903.02. Following the transaction, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at $10,358,962.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Monica Howard Douglas sold 8,874 shares of Coca-Cola stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $63.31, for a total value of $561,812.94. Following the transaction, the executive vice president now directly owns 33,638 shares in the company, valued at approximately $2,129,621.78. The disclosure for this sale can be found here. Insiders sold a total of 223,665 shares of company stock valued at $13,995,465 in the last quarter. Insiders own 0.97% of the company’s stock.

Institutional Trading of Coca-Cola

Several hedge funds have recently added to or reduced their stakes in KO. Cape Investment Advisory Inc. grew its stake in Coca-Cola by 47.6% in the 1st quarter. Cape Investment Advisory Inc. now owns 17,145 shares of the company’s stock worth $1,049,000 after buying an additional 5,529 shares in the last quarter. Keynote Financial Services LLC bought a new position in shares of Coca-Cola during the 1st quarter valued at $982,000. Jackson Wealth Management LLC raised its position in Coca-Cola by 14.4% in the 1st quarter. Jackson Wealth Management LLC now owns 53,771 shares of the company’s stock worth $3,290,000 after purchasing an additional 6,768 shares during the period. American Trust lifted its stake in Coca-Cola by 4.9% in the first quarter. American Trust now owns 13,683 shares of the company’s stock worth $837,000 after purchasing an additional 638 shares during the last quarter. Finally, OMC Financial Services LTD purchased a new stake in Coca-Cola during the first quarter valued at about $699,000. 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.