The Coca-Cola Company (NYSE:KO - Get Free Report)'s share price was up 0.3% during mid-day trading on Tuesday . The company traded as high as $62.64 and last traded at $62.56. Approximately 1,665,301 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 14,044,451 shares. The stock had previously closed at $62.38.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on the stock. Truist Financial upped their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Morgan Stanley lowered their price target on Coca-Cola from $78.00 to $76.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a "hold" rating to a "buy" rating and boosted their price objective for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Cfra restated a "hold" rating on shares of Coca-Cola in a report on Thursday, September 5th. Finally, Hsbc Global Res upgraded shares of Coca-Cola to a "strong-buy" rating in a research note on Friday, September 27th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $72.50.
Check Out Our Latest Analysis on Coca-Cola
Coca-Cola Stock Up 0.7 %
The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The stock has a market cap of $270.70 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 3.81 and a beta of 0.61. The firm has a fifty day moving average of $64.60 and a 200 day moving average of $66.62.
Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business's revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 EPS. On average, equities research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.
Coca-Cola Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a $0.485 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 3.09%. Coca-Cola's dividend payout ratio (DPR) is presently 80.17%.
Insider Transactions at Coca-Cola
In related news, CEO James Quincey sold 100,000 shares of the company's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the sale, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.97% of the company's stock.
Institutional Trading of Coca-Cola
Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in shares of Coca-Cola in the second quarter valued at about $27,000. Hara Capital LLC acquired a new stake in Coca-Cola in the third quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Coca-Cola in the 3rd quarter valued at approximately $36,000. Mount Lucas Management LP acquired a new position in Coca-Cola during the 2nd quarter worth approximately $38,000. Finally, American Capital Advisory LLC increased its position in Coca-Cola by 598.0% during the 2nd quarter. American Capital Advisory LLC now owns 705 shares of the company's stock worth $42,000 after purchasing an additional 604 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.
About Coca-Cola
(
Get Free Report)
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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