Coca-Cola (NYSE:KO) Trading Down 1.2% - Here's Why

The Coca-Cola Company (NYSE:KO - Get Free Report)'s share price dropped 1.2% on Monday . The company traded as low as $61.75 and last traded at $61.77. Approximately 2,620,236 shares were traded during trading, a decline of 81% from the average daily volume of 14,052,564 shares. The stock had previously closed at $62.55.

Analyst Upgrades and Downgrades

KO has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a "hold" rating to a "buy" rating and upped their price target for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Morgan Stanley decreased their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. Truist Financial boosted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Cfra reaffirmed a "hold" rating on shares of Coca-Cola in a research report on Thursday, September 5th. 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. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $72.50.

Coca-Cola Trading Down 0.3 %

The stock has a market cap of $268.72 billion, a PE ratio of 25.78, a price-to-earnings-growth 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. The firm has a 50-day moving average price of $64.76 and a 200-day moving average price of $66.63.

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, beating analysts' consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion for 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 business's revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.74 earnings per share. As a group, equities analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $0.485 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.11%. Coca-Cola's payout ratio is 80.17%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction dated Friday, November 8th. The stock was 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 owns 342,546 shares of the company's stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.97% of the company's stock.

Hedge Funds Weigh In On Coca-Cola

Institutional investors have recently made changes to their positions in the business. Hiley Hunt Wealth Management purchased a new position in Coca-Cola during the third quarter valued at $219,000. Lord Abbett & CO. LLC grew its stake in shares of Coca-Cola by 9.4% during the 3rd quarter. Lord Abbett & CO. LLC now owns 2,027,396 shares of the company's stock valued at $145,689,000 after acquiring an additional 174,948 shares during the period. Legacy Wealth Management LLC MS increased its holdings in Coca-Cola by 14.6% in the 3rd quarter. Legacy Wealth Management LLC MS now owns 9,627 shares of the company's stock worth $692,000 after acquiring an additional 1,227 shares in the last quarter. 1ST Source Bank raised its stake in Coca-Cola by 2.7% during the 3rd quarter. 1ST Source Bank now owns 19,835 shares of the company's stock worth $1,425,000 after acquiring an additional 524 shares during the period. Finally, DGS Capital Management LLC lifted its holdings in Coca-Cola by 13.1% during the third quarter. DGS Capital Management LLC now owns 4,856 shares of the company's stock valued at $349,000 after purchasing an additional 561 shares in the last quarter. Institutional investors 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.