Coca-Cola (NYSE:KO) Shares Up 0.1% - Should You Buy?

The Coca-Cola Company (NYSE:KO - Get Free Report)'s stock price rose 0.1% during mid-day trading on Wednesday . The company traded as high as $63.64 and last traded at $63.45. Approximately 3,046,843 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 13,879,786 shares. The stock had previously closed at $63.40.

Analyst Ratings Changes

KO has been the topic of several recent analyst reports. Wells Fargo & Company dropped their target price on shares of Coca-Cola from $78.00 to $75.00 and set an "overweight" rating on the stock in a report on Monday, December 2nd. Hsbc Global Res upgraded Coca-Cola to a "strong-buy" rating in a research note on Friday, September 27th. Truist Financial increased their target price on Coca-Cola from $70.00 to $80.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a "hold" rating to a "buy" rating and lifted their price target for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, Morgan Stanley reduced their price objective on Coca-Cola from $78.00 to $76.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued 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 price target of $72.50.

Coca-Cola Price Performance

The company has a 50-day moving average of $65.03 and a 200 day moving average of $66.63. The firm has a market cap of $270.75 billion, a P/E ratio of 25.97, a P/E/G ratio of 3.81 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 issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating 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 company had revenue of $11.85 billion during the quarter, compared to analysts' expectations of $11.61 billion. During the same period last year, the business earned $0.74 earnings per share. The business's revenue was down .8% on a year-over-year basis. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a dividend of $0.485 per share. The ex-dividend date was Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.09%. Coca-Cola's dividend payout ratio is 80.17%.

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of the company's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.97% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Coca-Cola

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KO. Harvest Portfolios Group Inc. acquired a new stake in shares of Coca-Cola in the third quarter valued at approximately $18,383,000. Balentine LLC increased its stake in shares of Coca-Cola by 92.4% in the 3rd quarter. Balentine LLC now owns 28,493 shares of the company's stock valued at $2,048,000 after buying an additional 13,685 shares during the period. Sheaff Brock Investment Advisors LLC raised its position in shares of Coca-Cola by 104.9% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company's stock worth $8,351,000 after acquiring an additional 59,503 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Coca-Cola by 5.8% during the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company's stock valued at $61,122,000 after acquiring an additional 46,541 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in Coca-Cola by 4.8% in the third quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company's stock valued at $32,895,000 after acquiring an additional 21,005 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

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.