Nikolaos Koumettis Sells 55,500 Shares of The Coca-Cola Company (NYSE:KO) Stock

The Coca-Cola Company (NYSE:KO) insider Nikolaos Koumettis sold 55,500 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $71.01, for a total value of $3,941,055.00. Following the sale, the insider now owns 246,909 shares of the company’s stock, valued at approximately $17,533,008.09. This trade represents a 18.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Nikolaos Koumettis also recently made the following trade(s):

• On Wednesday, February 26th, Nikolaos Koumettis sold 54,708 shares of Coca-Cola stock. The stock was sold at an average price of $70.96, for a total value of $3,882,079.68.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $69.95 on Thursday. The stock has a 50 day moving average of $65.87 and a 200 day moving average of $66.61. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The firm has a market cap of $300.83 billion, a PE ratio of 28.32, a PEG ratio of 3.79 and a beta of 0.57. 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 announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates 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, research analysts expect that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.92%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 82.59%.

Analyst Ratings Changes

A number of brokerages have commented on KO. JPMorgan Chase & Co. reduced their price target 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. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Thursday, February 13th. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a research report on Thursday, February 6th. Morgan Stanley upped their price target on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler increased their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $74.24.

Institutional Investors Weigh In On Coca-Cola

Institutional investors have recently modified their holdings of the stock. Crowley Wealth Management Inc. bought a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $27,000. Mainstream Capital Management LLC bought a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $31,000. REAP Financial Group LLC lifted its stake in shares of Coca-Cola by 57.5% in the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock valued at $35,000 after purchasing an additional 208 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Coca-Cola in the 3rd quarter valued at approximately $43,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $38,000. 70.26% of the stock is owned by 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.