Coca-Cola (NYSE:KO) Shares Up 0.9% - Here's What Happened

The Coca-Cola Company (NYSE:KO - Get Free Report)'s share price shot up 0.9% on Monday . The stock traded as high as $72.11 and last traded at $72.08. 3,056,186 shares traded hands during trading, a decline of 80% from the average session volume of 15,296,380 shares. The stock had previously closed at $71.43.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on KO shares. Royal Bank of Canada restated an "outperform" rating and set a $69.00 target price on shares of Coca-Cola in a report on Thursday, February 6th. Cfra Research upgraded Coca-Cola to a "strong-buy" rating in a research note on Tuesday. Wells Fargo & Company boosted their target price on Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. DZ Bank upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target on the stock in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Coca-Cola from $75.00 to $70.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola presently has an average rating of "Buy" and a consensus price target of $74.59.

Coca-Cola Stock Up 1.8 %

The business has a fifty day moving average of $70.28 and a 200 day moving average of $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 stock has a market cap of $314.13 billion, a price-to-earnings ratio of 29.55, a P/E/G ratio of 3.79 and a beta of 0.45.

Coca-Cola (NYSE:KO - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping 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, equities analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Coca-Cola's previous quarterly dividend of $0.49. Coca-Cola's dividend payout ratio is presently 82.59%.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 145,435 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 342,546 shares of the company's stock, valued at $24,324,191.46. This represents a 29.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Henrique Braun sold 25,277 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total value of $1,806,547.19. Following the transaction, the chief operating officer now owns 52,466 shares in the company, valued at approximately $3,749,745.02. This trade represents a 32.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 313,423 shares of company stock worth $22,263,071. 0.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Coca-Cola

Institutional investors and hedge funds have recently made changes to their positions in the company. Rice Partnership LLC boosted its stake in shares of Coca-Cola by 7.1% during the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company's stock worth $6,397,000 after buying an additional 6,793 shares during the last quarter. Fiduciary Alliance LLC raised its stake in Coca-Cola by 87.7% in the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company's stock valued at $1,132,000 after purchasing an additional 8,499 shares in the last quarter. Clark & Stuart Inc bought a new stake in shares of Coca-Cola during the 4th quarter worth approximately $1,582,000. Wilmington Savings Fund Society FSB raised its holdings in shares of Coca-Cola by 222.9% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 192,237 shares of the company's stock worth $13,814,000 after buying an additional 132,701 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Coca-Cola by 1.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 893,192 shares of the company's stock valued at $55,610,000 after purchasing an additional 8,810 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.