Coca-Cola (NYSE:KO) Shares Up 0.1% - Here's Why

The Coca-Cola Company (NYSE:KO - Get Free Report) shares shot up 0.1% during trading on Friday . The stock traded as high as $64.48 and last traded at $63.85. 5,859,636 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 13,398,273 shares. The stock had previously closed at $63.76.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Truist Financial increased their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Morgan Stanley dropped their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Barclays dropped their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an "overweight" rating on the stock in a report on Friday, October 25th. Wells Fargo & Company increased their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, September 16th. Finally, Cfra reaffirmed a "hold" rating on shares of Coca-Cola in a report on Thursday, September 5th. Four investment 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 stock. According to MarketBeat, Coca-Cola has a consensus rating of "Moderate Buy" and a consensus price target of $72.36.

Coca-Cola Price Performance

The company's 50 day moving average price is $67.94 and its 200-day moving average price is $66.50. The company has a market cap of $275.05 billion, a price-to-earnings ratio of 26.38, a PEG ratio of 3.80 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. The business had revenue of $11.85 billion during the quarter, compared to analysts' expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm's quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the company posted $0.74 earnings per share. On average, equities research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola's payout ratio is presently 80.17%.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the firm's stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares of the company's stock, valued at $15,968,095. This trade represents a 7.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO James Quincey sold 42,397 shares of the company's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94. Following the transaction, the chief executive officer now owns 442,546 shares of the company's stock, valued at approximately $30,987,070.92. This trade represents a 8.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 160,881 shares of company stock valued at $10,693,244. 0.97% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Coca-Cola

A number of institutional investors and hedge funds have recently bought and sold shares of KO. FMR LLC raised its stake in shares of Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company's stock valued at $6,680,205,000 after buying an additional 11,206,995 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Coca-Cola by 21.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company's stock worth $3,016,023,000 after buying an additional 8,733,326 shares during the period. Wellington Management Group LLP boosted its stake in Coca-Cola by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company's stock valued at $2,271,885,000 after buying an additional 4,013,996 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Coca-Cola during the third quarter valued at $269,382,000. Finally, Geode Capital Management LLC grew its holdings in shares of Coca-Cola by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company's stock worth $6,664,005,000 after purchasing an additional 2,966,964 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

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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