Coca-Cola (NYSE:KO) Stock Price Down 1.1% on Insider Selling

The Coca-Cola Company (NYSE:KO - Get Free Report)'s stock price dropped 1.1% during trading on Wednesday following insider selling activity. The stock traded as low as $70.64 and last traded at $70.68. Approximately 3,512,503 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 16,735,299 shares. The stock had previously closed at $71.49.

Specifically, insider Bruno Pietracci sold 19,058 shares of the business's stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Analysts Set New Price Targets

KO has been the subject of several recent analyst reports. Royal Bank of Canada restated an "outperform" rating and set a $69.00 target price on shares of Coca-Cola in a research report on Thursday, February 6th. JPMorgan Chase & Co. dropped their target price on Coca-Cola from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. Evercore ISI boosted their target price on Coca-Cola from $72.00 to $75.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Morgan Stanley lifted their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a "hold" rating to a "buy" rating and lifted their price target for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. 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 company. Based on data from MarketBeat, Coca-Cola presently has an average rating of "Moderate Buy" and an average price target of $73.82.

Coca-Cola Stock Performance

The firm has a fifty day moving average price of $64.19 and a 200 day moving average price of $66.47. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The stock has a market cap of $305.06 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 3.79 and a beta of 0.61.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating 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%. 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Coca-Cola's previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.88%. Coca-Cola's dividend payout ratio (DPR) is 82.59%.

Institutional Investors Weigh In On Coca-Cola

A number of institutional investors have recently modified their holdings of the business. Crowley Wealth Management Inc. purchased a new position in Coca-Cola in the 4th quarter valued at about $27,000. Mainstream Capital Management LLC purchased a new position in Coca-Cola in the 4th quarter valued at about $31,000. Hara Capital LLC purchased a new position in Coca-Cola in the 3rd quarter valued at about $35,000. REAP Financial Group LLC lifted its stake in Coca-Cola by 57.5% in the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company's stock valued at $35,000 after buying an additional 208 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola in the 3rd quarter valued at about $36,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

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.