Coca-Cola (NYSE:KO) Shares Down 0.2%

The Coca-Cola Company (NYSE:KO)’s share price dropped 0.2% during trading on Tuesday . The company traded as low as $62.85 and last traded at $63.16. Approximately 1,364,983 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 13,007,891 shares. The stock had previously closed at $63.28.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Argus increased their price objective on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Evercore ISI increased their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. BNP Paribas initiated coverage on shares of Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 target price for the company. Finally, Barclays upped their price target on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $68.83.

Coca-Cola Stock Down 0.6 %

The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04. The stock’s 50-day moving average price is $62.72 and its two-hundred day moving average price is $60.78. The stock has a market capitalization of $270.97 billion, a PE ratio of 25.26, a P/E/G ratio of 3.60 and a beta of 0.59.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $11.01 billion. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 earnings per share. As a group, analysts expect that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were paid a $0.485 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.08%. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insider Activity

In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of Coca-Cola stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $61.99, for a total value of $3,551,903.02. Following the completion of the transaction, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at $10,358,962.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Coca-Cola news, EVP Monica Howard Douglas sold 8,874 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $63.31, for a total value of $561,812.94. Following the completion of the transaction, the executive vice president now owns 33,638 shares of the company’s stock, valued at approximately $2,129,621.78. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Beatriz R. Perez sold 57,298 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the transaction, the executive vice president now owns 167,107 shares in the company, valued at approximately $10,358,962.93. The disclosure for this sale can be found here. Insiders sold 223,665 shares of company stock worth $13,995,465 over the last three months. 0.97% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley grew its position in Coca-Cola by 2.5% during the third quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock valued at $4,503,484,000 after buying an additional 1,950,146 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Coca-Cola by 21.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after buying an additional 8,733,326 shares during the period. Norges Bank purchased a new position in shares of Coca-Cola during the 4th quarter valued at about $2,808,056,000. Dimensional Fund Advisors LP grew its stake in shares of Coca-Cola by 5.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 15,171,216 shares of the company’s stock valued at $894,028,000 after acquiring an additional 814,779 shares during the period. Finally, Vontobel Asset Management Inc. raised its stake in Coca-Cola by 2.7% during the 4th quarter. Vontobel Asset Management Inc. now owns 14,337,691 shares of the company’s stock worth $890,866,000 after acquiring an additional 378,447 shares during the period. Institutional investors own 70.26% of the company’s stock.

About Coca-Cola

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.