Coca-Cola (NYSE:KO) Stock Price Up 0.7% - Should You Buy?

The Coca-Cola Company (NYSE:KO - Get Free Report)'s share price shot up 0.7% on Thursday . The stock traded as high as $63.42 and last traded at $63.40. 3,049,652 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 13,368,610 shares. The stock had previously closed at $62.99.

Analysts Set New Price Targets

KO has been the topic of a number of research analyst reports. Royal Bank of Canada raised their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 24th. Truist Financial lifted 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. TD Cowen raised their target price on Coca-Cola from $65.00 to $70.00 and gave the company a "hold" rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a "hold" rating in a research note on Wednesday, July 24th. Finally, Citigroup increased their price objective on Coca-Cola from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $72.36.

Coca-Cola Trading Up 1.0 %

The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The firm's 50 day moving average price is $68.09 and its 200 day moving average price is $66.52. The stock has a market capitalization of $273.98 billion, a P/E ratio of 26.20, a P/E/G ratio of 3.80 and a beta of 0.61.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $11.61 billion. During the same period last year, the company earned $0.74 earnings per share. Coca-Cola's revenue was down .8% on a year-over-year basis. As a group, equities research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Friday, November 29th. Coca-Cola's dividend payout ratio is presently 80.17%.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer now owns 342,546 shares of the company's stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. The trade was a 7.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 160,881 shares of company stock valued at $10,693,244. Company insiders own 0.97% of the company's stock.

Institutional Trading of Coca-Cola

Several institutional investors and hedge funds have recently bought and sold shares of KO. Wealthquest Corp bought a new position in Coca-Cola during the third quarter valued at approximately $412,000. Aldebaran Financial Inc. boosted its holdings in shares of Coca-Cola by 21.4% during the 3rd quarter. Aldebaran Financial Inc. now owns 11,711 shares of the company's stock worth $842,000 after buying an additional 2,065 shares during the period. Bard Financial Services Inc. boosted its holdings in Coca-Cola by 0.4% during the third quarter. Bard Financial Services Inc. now owns 182,521 shares of the company's stock valued at $13,116,000 after acquiring an additional 680 shares during the period. Unigestion Holding SA increased its stake in shares of Coca-Cola by 46.5% in the third quarter. Unigestion Holding SA now owns 617,968 shares of the company's stock worth $44,401,000 after purchasing an additional 196,124 shares during the period. Finally, Second Line Capital LLC lifted its holdings in shares of Coca-Cola by 14.7% during the third quarter. Second Line Capital LLC now owns 8,957 shares of the company's stock worth $648,000 after buying an additional 1,147 shares during the last quarter. Institutional investors and hedge funds 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.

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