Insider Selling: The Coca-Cola Company (NYSE:KO) Insider Sells 19,058 Shares of Stock

The Coca-Cola Company (NYSE:KO) insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Coca-Cola Stock Up 0.9 %

NYSE KO traded up $0.61 during trading hours on Tuesday, hitting $71.20. The company’s stock had a trading volume of 12,227,377 shares, compared to its average volume of 16,837,910. The company has a market capitalization of $306.73 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 3.79 and a beta of 0.61. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The company’s 50-day simple moving average is $63.87 and its two-hundred day simple moving average is $66.42. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating 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%. Research analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.87%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. Coca-Cola’s dividend payout ratio is 78.54%.

Analysts Set New Price Targets

KO has been the subject of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a research note on Thursday, February 6th. Evercore ISI increased their price target on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. lowered their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, Wells Fargo & Company lifted their target price on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.82.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Investment Partners Asset Management Inc. boosted its position in shares of Coca-Cola by 2.2% in the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after acquiring an additional 150 shares during the period. Peachtree Investment Partners LLC boosted its holdings in Coca-Cola by 1.4% in the 4th quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company’s stock valued at $697,000 after purchasing an additional 157 shares during the period. Fort Sheridan Advisors LLC grew its position in shares of Coca-Cola by 3.3% during the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock valued at $311,000 after purchasing an additional 161 shares in the last quarter. Excalibur Management Corp grew its position in shares of Coca-Cola by 0.6% during the 4th quarter. Excalibur Management Corp now owns 29,412 shares of the company’s stock valued at $1,831,000 after purchasing an additional 161 shares in the last quarter. Finally, Wells Trecaso Financial Group LLC raised its position in shares of Coca-Cola by 4.8% in the fourth quarter. Wells Trecaso Financial Group LLC now owns 3,616 shares of the company’s stock worth $225,000 after buying an additional 164 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

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.