Coca-Cola (NYSE:KO) Trading 0.9% Higher - Here's What Happened

The Coca-Cola Company (NYSE:KO - Get Free Report) rose 0.9% during trading on Thursday . The stock traded as high as $70.93 and last traded at $70.65. Approximately 2,695,995 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 14,022,825 shares. The stock had previously closed at $70.02.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on KO shares. DZ Bank raised shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective on the stock in a research report on Thursday, February 13th. UBS Group raised their price target on shares of Coca-Cola from $72.00 to $78.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Evercore ISI upped their price objective 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. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a "hold" rating to a "buy" rating and raised their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, TD Cowen upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target for the company in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company 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 firm has a 50-day moving average price of $67.77 and a two-hundred day moving average price of $66.41. The company has a market capitalization of $302.80 billion, a P/E ratio of 28.49, a PEG ratio of 3.79 and a beta of 0.57. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share 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%. Equities research analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.90%. This is a positive change from Coca-Cola's previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. Coca-Cola's payout ratio is currently 82.59%.

Insiders Place Their Bets

In related news, COO Henrique Braun sold 25,277 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the completion of the transaction, the chief operating officer now owns 52,466 shares of the company's stock, valued at $3,749,745.02. This represents a 32.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of Coca-Cola stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total value of $961,317.50. Following the sale, the executive vice president now directly owns 94,676 shares in the company, valued at $6,769,334. The trade was a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Coca-Cola

Several hedge funds and other institutional investors have recently modified their holdings of KO. Peachtree Investment Partners LLC lifted its holdings in shares of Coca-Cola by 1.4% during the fourth quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company's stock valued at $697,000 after acquiring an additional 157 shares during the period. Fort Sheridan Advisors LLC lifted its holdings in Coca-Cola by 3.3% during the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company's stock valued at $311,000 after purchasing an additional 161 shares during the last quarter. Excalibur Management Corp lifted its holdings in Coca-Cola by 0.6% during the 4th quarter. Excalibur Management Corp now owns 29,412 shares of the company's stock valued at $1,831,000 after purchasing an additional 161 shares during the last quarter. Wells Trecaso Financial Group LLC boosted its position in Coca-Cola by 4.8% in the fourth quarter. Wells Trecaso Financial Group LLC now owns 3,616 shares of the company's stock valued at $225,000 after buying an additional 164 shares in the last quarter. Finally, Atlas Brown Inc. increased its holdings in shares of Coca-Cola by 0.8% during the fourth quarter. Atlas Brown Inc. now owns 21,024 shares of the company's stock worth $1,309,000 after buying an additional 166 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.