Coca-Cola (NYSE:KO) Trading Down 0.1% - Here's What Happened

The Coca-Cola Company (NYSE:KO - Get Free Report)'s share price dropped 0.1% during trading on Monday . The stock traded as low as $71.40 and last traded at $71.85. Approximately 3,202,579 shares changed hands during trading, a decline of 79% from the average daily volume of 15,347,850 shares. The stock had previously closed at $71.91.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on KO shares. UBS Group upped their target price on Coca-Cola from $78.00 to $84.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Evercore ISI raised their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Barclays reaffirmed an "overweight" rating on shares of Coca-Cola in a report on Thursday, March 27th. Jefferies Financial Group upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and boosted their target price for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Finally, TD Cowen upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price on the stock in a research report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $75.06.

Coca-Cola Trading Down 0.5 %

The stock's fifty day moving average price is $70.78 and its 200 day moving average price is $66.48. The stock has a market cap of $307.94 billion, a P/E ratio of 28.97, a PEG ratio of 3.79 and a beta of 0.45. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO - Get Free Report) last posted its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate 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 expect that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.85%. 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 payout ratio is 82.59%.

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Nikolaos Koumettis sold 54,708 shares of the company's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total value of $3,882,079.68. Following the sale, the insider now owns 246,909 shares of the company's stock, valued at $17,520,662.64. This represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 313,423 shares of company stock valued at $22,263,071. 0.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Coca-Cola

A number of institutional investors have recently modified their holdings of the stock. Arlington Trust Co LLC boosted its stake in shares of Coca-Cola by 228.5% during the 1st quarter. Arlington Trust Co LLC now owns 4,869 shares of the company's stock worth $349,000 after acquiring an additional 3,387 shares in the last quarter. Pinnacle Financial Partners Inc grew its position in Coca-Cola by 0.7% during the first quarter. Pinnacle Financial Partners Inc now owns 272,625 shares of the company's stock worth $19,501,000 after buying an additional 2,009 shares in the last quarter. Kanawha Capital Management LLC grew its stake in shares of Coca-Cola by 2.1% in the 1st quarter. Kanawha Capital Management LLC now owns 184,888 shares of the company's stock valued at $13,242,000 after purchasing an additional 3,887 shares during the period. Moody Lynn & Lieberson LLC boosted its position in Coca-Cola by 11.2% in the first quarter. Moody Lynn & Lieberson LLC now owns 161,620 shares of the company's stock valued at $11,575,000 after buying an additional 16,254 shares in the last quarter. Finally, Aaron Wealth Advisors LLC increased its position in Coca-Cola by 7.1% in the 1st quarter. Aaron Wealth Advisors LLC now owns 34,149 shares of the company's stock valued at $2,446,000 after acquiring an additional 2,250 shares in 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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