Coca-Cola (NYSE:KO) Trading Down 0.1%

The Coca-Cola Company (NYSE:KO)’s share price was down 0.1% during trading on Thursday . The stock traded as low as $63.90 and last traded at $63.96. Approximately 1,533,875 shares changed hands during trading, a decline of 88% from the average daily volume of 13,034,772 shares. The stock had previously closed at $64.05.

Analysts Set New Price Targets

A number of analysts recently issued reports on KO shares. Argus increased their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Morgan Stanley raised their target price on Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Evercore ISI upped their price target on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, Barclays raised their price objective on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.83.

Coca-Cola Stock Performance

The stock has a market capitalization of $274.20 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 3.61 and a beta of 0.59. 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 has a fifty day moving average of $62.72 and a 200-day moving average of $60.77.

Coca-Cola (NYSE:KO) last announced its quarterly 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 return on equity of 42.74% and a net margin of 23.41%. The firm had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the prior year, the company posted $0.68 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities analysts anticipate that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s dividend payout ratio is presently 77.60%.

Insider Transactions at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the transaction, the insider now directly owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Nikolaos Koumettis sold 80,891 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the transaction, the insider now directly owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Beatriz R. Perez sold 57,298 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the transaction, the executive vice president now directly owns 167,107 shares in the company, valued at approximately $10,358,962.93. The disclosure for this sale can be found here. In the last quarter, insiders sold 223,665 shares of company stock worth $13,995,465. Company insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Coca-Cola

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Ancora Advisors LLC raised its stake in shares of Coca-Cola by 3.9% in the 3rd quarter. Ancora Advisors LLC now owns 42,809 shares of the company’s stock valued at $2,396,000 after acquiring an additional 1,593 shares during the period. Caxton Associates LP raised its position in Coca-Cola by 85.6% in the third quarter. Caxton Associates LP now owns 6,945 shares of the company’s stock valued at $389,000 after purchasing an additional 3,203 shares during the period. Rehmann Capital Advisory Group lifted its stake in shares of Coca-Cola by 6.0% during the third quarter. Rehmann Capital Advisory Group now owns 30,416 shares of the company’s stock worth $1,703,000 after purchasing an additional 1,716 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Coca-Cola by 24.2% in the third quarter. Jones Financial Companies Lllp now owns 26,994 shares of the company’s stock worth $1,511,000 after buying an additional 5,256 shares during the period. Finally, Logan Capital Management Inc. raised its holdings in shares of Coca-Cola by 1.6% during the 3rd quarter. Logan Capital Management Inc. now owns 179,088 shares of the company’s stock valued at $10,025,000 after buying an additional 2,762 shares during the period. Institutional investors and hedge funds 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.