Coca-Cola (NYSE:KO) Trading 0.6% Higher - Here's What Happened

The Coca-Cola Company (NYSE:KO - Get Free Report) rose 0.6% during mid-day trading on Friday . The stock traded as high as $71.32 and last traded at $71.19. Approximately 3,018,805 shares traded hands during trading, a decline of 78% from the average daily volume of 14,024,977 shares. The stock had previously closed at $70.74.

Wall Street Analyst Weigh In

Several research analysts recently commented on KO shares. JPMorgan Chase & Co. dropped their price target on Coca-Cola from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. Morgan Stanley boosted their target price on Coca-Cola from $76.00 to $78.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Evercore ISI raised their price target on Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Barclays boosted their price objective on shares of Coca-Cola from $66.00 to $73.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Finally, Jefferies Financial Group upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and raised their target price for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $74.24.

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Coca-Cola Stock Down 0.5 %

The company's fifty day simple moving average is $67.77 and its 200-day simple moving average is $66.41. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The firm has a market capitalization of $302.80 billion, a PE ratio of 28.49, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly earnings results 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 return on equity of 45.37% and a net margin of 22.59%. On average, analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Friday, March 14th. This is a boost from Coca-Cola's previous quarterly dividend of $0.49. Coca-Cola's payout ratio is 82.59%.

Insider Activity at Coca-Cola

In other news, insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James Quincey sold 145,435 shares of Coca-Cola stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $24,324,191.46. The trade was a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of KO. Crowley Wealth Management Inc. acquired a new position in Coca-Cola during the 4th quarter worth $27,000. Mainstream Capital Management LLC acquired a new stake in shares of Coca-Cola in the 4th quarter valued at about $31,000. REAP Financial Group LLC grew its position in shares of Coca-Cola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company's stock worth $35,000 after acquiring an additional 208 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola in the fourth quarter valued at $37,000. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in Coca-Cola during the 4th quarter worth approximately $38,000. Hedge funds and other 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.