Coca-Cola (NYSE:KO) Stock Price Up 1% - What's Next?

The Coca-Cola Company (NYSE:KO - Get Free Report)'s stock price traded up 1% during mid-day trading on Wednesday . The company traded as high as $69.47 and last traded at $69.47. 3,187,663 shares changed hands during trading, a decline of 77% from the average session volume of 14,018,309 shares. The stock had previously closed at $68.81.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on KO shares. Piper Sandler boosted their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. DZ Bank upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target for the company in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. UBS Group lifted their price target on Coca-Cola from $72.00 to $78.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. decreased their price objective on Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $74.24.

Remove Ads

Coca-Cola Price Performance

The firm has a market cap of $302.80 billion, a price-to-earnings ratio of 28.49, a P/E/G ratio of 3.79 and a beta of 0.57. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The stock's fifty day moving average price is $67.77 and its 200-day moving average price is $66.45.

Coca-Cola (NYSE:KO - Get Free Report) last posted its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. As a group, equities research analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

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

Insider Buying and Selling

In other news, CEO James Quincey sold 145,435 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the sale, the chief executive officer now owns 342,546 shares of the company's stock, valued at approximately $24,324,191.46. This represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nikolaos Koumettis sold 54,708 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the transaction, the insider now directly owns 246,909 shares of the company's stock, valued at approximately $17,520,662.64. The trade was a 18.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 313,423 shares of company stock valued at $22,263,071. Company insiders own 0.97% of the company's stock.

Hedge Funds Weigh In On Coca-Cola

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rice Partnership LLC grew its stake in 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 purchasing an additional 6,793 shares in the last quarter. Fiduciary Alliance LLC raised its holdings in shares of Coca-Cola by 87.7% in the 4th 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. Wellington Management Group LLP grew its stake in shares of Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company's stock worth $2,271,885,000 after purchasing an additional 4,013,996 shares in the last quarter. Clark & Stuart Inc purchased a new position in Coca-Cola in the fourth quarter valued at $1,582,000. Finally, Wilmington Savings Fund Society FSB raised its stake in Coca-Cola by 222.9% in the third quarter. Wilmington Savings Fund Society FSB now owns 192,237 shares of the company's stock valued at $13,814,000 after buying an additional 132,701 shares in the last quarter. Hedge funds and other institutional investors 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.