Coca-Cola (NYSE:KO) Shares Up 0.1%

The Coca-Cola Company (NYSE:KOGet Free Report)’s share price shot up 0.1% during trading on Wednesday . The company traded as high as $63.39 and last traded at $63.16. 2,163,092 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 13,573,053 shares. The stock had previously closed at $63.10.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Evercore ISI boosted their price objective on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. raised their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Barclays increased their price target on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, UBS Group boosted their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.27.

Read Our Latest Analysis on Coca-Cola

Coca-Cola Stock Down 0.5 %

The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The business has a 50-day simple moving average of $60.87 and a two-hundred day simple moving average of $59.68. The stock has a market capitalization of $271.53 billion, a P/E ratio of 25.21, a PEG ratio of 3.59 and a beta of 0.57.

Coca-Cola (NYSE:KOGet Free Report) last posted its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The business had revenue of $11.30 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts forecast that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 annualized dividend and a yield of 3.08%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Henrique Braun sold 57,298 shares of Coca-Cola stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $63.08, for a total transaction of $3,614,357.84. Following the completion of the sale, the executive vice president now owns 52,466 shares of the company’s stock, valued at approximately $3,309,555.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Henrique Braun sold 57,298 shares of Coca-Cola stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $63.08, for a total value of $3,614,357.84. Following the transaction, the executive vice president now owns 52,466 shares in the company, valued at $3,309,555.28. The disclosure for this sale can be found here. Insiders have sold a total of 446,577 shares of company stock worth $27,385,816 over the last 90 days. Insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Coca-Cola

Institutional investors and hedge funds have recently modified their holdings of the business. ZRC Wealth Management LLC raised its holdings in shares of Coca-Cola by 213.3% during the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after acquiring an additional 320 shares during the period. Tidemark LLC bought a new stake in Coca-Cola in the 4th quarter valued at approximately $26,000. Private Wealth Management Group LLC bought a new position in shares of Coca-Cola during the 4th quarter worth approximately $27,000. Redmont Wealth Advisors LLC bought a new stake in shares of Coca-Cola in the first quarter worth $28,000. Finally, ESL Trust Services LLC bought a new position in Coca-Cola in the first quarter valued at $28,000. 70.26% of the stock is currently 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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