Coca-Cola (NYSE:KO) Shares Down 0.7% - What's Next?

The Coca-Cola Company (NYSE:KO - Get Free Report)'s share price was down 0.7% during mid-day trading on Wednesday . The stock traded as low as $62.06 and last traded at $62.14. Approximately 2,801,288 shares were traded during trading, a decline of 79% from the average daily volume of 13,341,112 shares. The stock had previously closed at $62.59.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Hsbc Global Res raised shares of Coca-Cola to a "strong-buy" rating in a report on Friday, September 27th. Morgan Stanley dropped their target price on Coca-Cola from $78.00 to $76.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. Royal Bank of Canada increased their price target on Coca-Cola from $65.00 to $68.00 and gave the company an "outperform" rating in a report on Wednesday, July 24th. Truist Financial lifted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Finally, Barclays decreased their target price on Coca-Cola from $74.00 to $73.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $72.36.

Coca-Cola Stock Performance

The firm has a 50-day moving average of $68.25 and a 200-day moving average of $66.55. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $270.75 billion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 3.75 and a beta of 0.61.

Coca-Cola (NYSE:KO - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. The company's revenue was down .8% compared to the same quarter last year. As a group, sell-side analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Friday, November 29th. Coca-Cola's payout ratio is presently 80.17%.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the business's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the firm's stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. The trade was a 7.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 160,881 shares of company stock valued at $10,693,244 in the last 90 days. 0.97% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Coca-Cola

A number of institutional investors and hedge funds have recently bought and sold shares of KO. New Millennium Group LLC acquired a new stake in Coca-Cola during the second quarter worth about $26,000. Quarry LP acquired a new stake in shares of Coca-Cola during the 2nd quarter worth approximately $27,000. Hara Capital LLC purchased a new stake in shares of Coca-Cola during the 3rd quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Coca-Cola in the third quarter valued at approximately $36,000. Finally, Mount Lucas Management LP purchased a new position in Coca-Cola in the second quarter worth approximately $38,000. 70.26% of the stock is currently 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.

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