The Coca-Cola Company (NYSE:KO) EVP Sells $3,981,938.22 in Stock

The Coca-Cola Company (NYSE:KO) EVP Lisa Chang sold 58,122 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the completion of the transaction, the executive vice president now owns 74,067 shares in the company, valued at approximately $5,074,330.17. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Coca-Cola Stock Up 0.9 %

Shares of Coca-Cola stock traded up $0.58 on Wednesday, hitting $68.63. The company had a trading volume of 6,208,676 shares, compared to its average volume of 13,037,513. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $69.67. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The stock has a 50 day moving average of $64.24 and a 200-day moving average of $61.89. The stock has a market capitalization of $295.65 billion, a price-to-earnings ratio of 27.58, a P/E/G ratio of 3.80 and a beta of 0.59.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The business had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. Coca-Cola’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 EPS. As a group, sell-side analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.83%. The ex-dividend date is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Institutional Investors Weigh In On Coca-Cola

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidemark LLC purchased a new stake in shares of Coca-Cola during the 4th quarter worth approximately $26,000. New Millennium Group LLC bought a new stake in Coca-Cola during the 2nd quarter worth approximately $26,000. Private Wealth Management Group LLC purchased a new stake in Coca-Cola in the 4th quarter worth approximately $27,000. Redmont Wealth Advisors LLC purchased a new stake in Coca-Cola in the 1st quarter worth approximately $28,000. Finally, ESL Trust Services LLC bought a new stake in Coca-Cola during the first quarter valued at $28,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

KO has been the topic of several recent analyst reports. Citigroup boosted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Morgan Stanley boosted their price objective on Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Royal Bank of Canada raised their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. TD Cowen boosted their price target on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company raised their price objective on shares of Coca-Cola from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $70.20.

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.