Coca-Cola (NYSE:KO) Sets New 52-Week High - What's Next?

Shares of The Coca-Cola Company (NYSE:KO - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $74.38 and last traded at $73.92, with a volume of 15585353 shares trading hands. The stock had previously closed at $72.77.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on KO. 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 note on Thursday, February 13th. Piper Sandler upped their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Evercore ISI raised their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. UBS Group boosted their price target on shares of Coca-Cola from $78.00 to $84.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Finally, Jefferies Financial Group upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and raised their price objective for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $75.06.

Coca-Cola Stock Down 0.8 %

The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The firm has a market capitalization of $309.68 billion, a price-to-earnings ratio of 29.13, a price-to-earnings-growth ratio of 3.79 and a beta of 0.45. The firm's 50-day moving average price is $70.72 and its 200 day moving average price is $66.50.

Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping 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%. Sell-side analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.83%. This is a positive change from Coca-Cola's previous quarterly dividend of $0.49. The ex-dividend date was Friday, March 14th. Coca-Cola's dividend payout ratio is 82.59%.

Insiders Place Their Bets

In other Coca-Cola news, insider Bruno Pietracci sold 19,058 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was 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 can be accessed through this hyperlink. Also, insider Nikolaos Koumettis sold 54,708 shares of Coca-Cola stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total value of $3,882,079.68. Following the completion of the sale, the insider now owns 246,909 shares of the company's stock, valued at $17,520,662.64. This trade represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock valued at $22,263,071 in the last ninety days. Insiders own 0.97% of the company's stock.

Institutional Investors Weigh In On Coca-Cola

Several hedge funds have recently modified their holdings of the stock. MorganRosel Wealth Management LLC acquired a new stake in shares of Coca-Cola during the 1st quarter worth $25,000. Crowley Wealth Management Inc. acquired a new stake in Coca-Cola during the fourth quarter worth about $27,000. Garde Capital Inc. purchased a new position in shares of Coca-Cola in the 1st quarter worth about $30,000. Mainstream Capital Management LLC acquired a new position in shares of Coca-Cola in the 4th quarter valued at about $31,000. Finally, Mizuho Securities Co. Ltd. grew its holdings in shares of Coca-Cola by 360.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after purchasing an additional 360 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

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.