Coca-Cola (NYSE:KO) Trading Down 0.5% - Here's What Happened

Shares of The Coca-Cola Company (NYSE:KO - Get Free Report) traded down 0.5% during mid-day trading on Friday . The company traded as low as $63.42 and last traded at $63.74. 2,422,699 shares were traded during trading, a decline of 85% from the average session volume of 15,660,497 shares. The stock had previously closed at $64.05.

Wall Street Analysts Forecast Growth

KO has been the topic of several recent analyst reports. Jefferies Financial Group raised 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. TD Cowen upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective on the stock in a report on Wednesday, January 8th. Morgan Stanley reduced 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. 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 note on Thursday, December 12th. Finally, UBS Group reduced their price objective on Coca-Cola from $82.00 to $72.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $72.13.

Coca-Cola Price Performance

The firm has a market cap of $272.95 billion, a price-to-earnings ratio of 26.18, a P/E/G ratio of 3.56 and a beta of 0.61. The stock's fifty day moving average price is $62.65 and its 200-day moving average price is $66.39. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the company's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.97% of the company's stock.

Institutional Trading of Coca-Cola

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KO. Quarry LP purchased a new stake in shares of Coca-Cola in the 2nd quarter valued at $27,000. Hara Capital LLC purchased a new stake in Coca-Cola during the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola during the third quarter worth about $36,000. Retirement Wealth Solutions LLC purchased a new position in shares of Coca-Cola in the fourth quarter valued at approximately $37,000. Finally, MilWealth Group LLC purchased a new position in Coca-Cola in the 4th quarter valued at approximately $40,000. Hedge funds and other 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.