Coca-Cola (NYSE:KO) Shares Up 1.8% Following Analyst Upgrade

The Coca-Cola Company (NYSE:KO - Get Free Report)'s stock price rose 1.8% during trading on Friday after Cfra Research upgraded the stock to a strong-buy rating. The company traded as high as $73.43 and last traded at $72.99. Approximately 20,745,798 shares traded hands during trading, an increase of 35% from the average daily volume of 15,392,094 shares. The stock had previously closed at $71.68.

KO has been the subject of several other reports. Piper Sandler boosted their price objective on Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Jefferies Financial Group upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and increased their price objective for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Evercore ISI lifted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Wells Fargo & Company increased their price target on Coca-Cola from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $69.00 price objective on shares of Coca-Cola in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $74.59.

Insider Transactions at Coca-Cola

In other news, insider Bruno Pietracci sold 19,058 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $70.56, for a total transaction of $1,344,732.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lisa Chang sold 13,445 shares of the business's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total transaction of $961,317.50. Following the completion of the sale, the executive vice president now directly owns 94,676 shares in the company, valued at approximately $6,769,334. This represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 313,423 shares of company stock valued at $22,263,071 over the last quarter. Corporate insiders own 0.90% of the company's stock.

Institutional Investors Weigh In On Coca-Cola

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KO. Insigneo Advisory Services LLC grew its holdings in shares of Coca-Cola by 5.5% in the 1st quarter. Insigneo Advisory Services LLC now owns 46,323 shares of the company's stock valued at $3,318,000 after acquiring an additional 2,428 shares in the last quarter. Wagner Wealth Management LLC acquired a new position in Coca-Cola during the first quarter valued at approximately $219,000. Berkshire Bank bought a new position in Coca-Cola in the first quarter valued at approximately $210,000. Chicago Capital LLC increased its position in shares of Coca-Cola by 3.4% during the 1st quarter. Chicago Capital LLC now owns 76,999 shares of the company's stock worth $5,515,000 after purchasing an additional 2,499 shares during the last quarter. Finally, Vista Investment Partners LLC raised its stake in shares of Coca-Cola by 30.4% during the 1st quarter. Vista Investment Partners LLC now owns 33,417 shares of the company's stock worth $2,393,000 after purchasing an additional 7,793 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Trading Up 1.8 %

The company has a market cap of $314.13 billion, a price-to-earnings ratio of 29.55, a P/E/G ratio of 3.79 and a beta of 0.45. The firm has a fifty day moving average price of $70.28 and a 200 day moving average price of $66.41. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

Coca-Cola (NYSE:KO - Get Free Report) last announced its quarterly earnings data 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 net margin of 22.59% and a return on equity of 45.37%. As a group, equities analysts predict that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.79%. This is a boost from Coca-Cola's previous quarterly dividend of $0.49. The ex-dividend date was Friday, March 14th. Coca-Cola's dividend payout ratio (DPR) is presently 82.59%.

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.

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