Coca-Cola (NYSE:KO) Trading Down 1% - Here's What Happened

Shares of The Coca-Cola Company (NYSE:KO - Get Free Report) were down 1% during trading on Monday . The stock traded as low as $69.71 and last traded at $69.75. Approximately 3,360,924 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 13,115,250 shares. The stock had previously closed at $70.44.

Wall Street Analyst Weigh In

Several research analysts recently commented on KO shares. StockNews.com downgraded shares of Coca-Cola from a "buy" rating to a "hold" rating in a research note on Friday, July 19th. Cfra reissued a "hold" rating on shares of Coca-Cola in a research report on Thursday, September 5th. Royal Bank of Canada raised their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the company an "outperform" rating in a research report on Wednesday, July 24th. Hsbc Global Res raised shares of Coca-Cola to a "strong-buy" rating in a research report on Friday, September 27th. Finally, Wells Fargo & Company raised their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the company an "overweight" rating in a research report on Monday, September 16th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $72.00.

Coca-Cola Stock Down 1.4 %

The business's 50 day moving average is $70.73 and its 200 day moving average is $65.87. The company has a market capitalization of $299.19 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 3.92 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08.

Coca-Cola (NYSE:KO - Get Free Report) last released its earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.03. The company had revenue of $12.40 billion during the quarter, compared to analysts' expectations of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. Coca-Cola's revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the business earned $0.78 EPS. Sell-side analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.79%. The ex-dividend date is Friday, November 29th. Coca-Cola's payout ratio is 77.60%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,482 shares of Coca-Cola stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,398,603.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Lisa Chang sold 58,122 shares of the business's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total value of $3,981,938.22. Following the completion of the transaction, the executive vice president now directly owns 74,067 shares in the company, valued at $5,074,330.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nancy Quan sold 18,482 shares of the business's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the completion of the transaction, the executive vice president now owns 223,330 shares of the company's stock, valued at approximately $15,398,603.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 356,792 shares of company stock worth $24,728,364. Company insiders own 0.97% of the company's stock.

Hedge Funds Weigh In On Coca-Cola

Large investors have recently made changes to their positions in the company. Swedbank AB acquired a new position in shares of Coca-Cola in the 1st quarter valued at $102,604,000. BDF Gestion purchased a new stake in Coca-Cola in the 2nd quarter worth $7,421,000. Duality Advisers LP increased its holdings in Coca-Cola by 191.1% in the 1st quarter. Duality Advisers LP now owns 111,851 shares of the company's stock worth $6,843,000 after acquiring an additional 73,434 shares in the last quarter. TD Asset Management Inc increased its holdings in Coca-Cola by 0.7% in the 1st quarter. TD Asset Management Inc now owns 2,935,238 shares of the company's stock worth $179,578,000 after acquiring an additional 20,048 shares in the last quarter. Finally, New Mexico Educational Retirement Board increased its holdings in Coca-Cola by 11.6% in the 1st quarter. New Mexico Educational Retirement Board now owns 226,020 shares of the company's stock worth $14,013,000 after acquiring an additional 23,500 shares in the last quarter. 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.