Coca-Cola (NYSE:KO) Trading Up 0.2% Following Analyst Upgrade

The Coca-Cola Company (NYSE:KO)’s stock price shot up 0.2% on Tuesday after Wells Fargo & Company raised their price target on the stock from $73.00 to $78.00. Wells Fargo & Company currently has an overweight rating on the stock. Coca-Cola traded as high as $72.30 and last traded at $72.22. 1,787,498 shares changed hands during trading, a decline of 86% from the average session volume of 13,078,214 shares. The stock had previously closed at $72.10.

Other equities research analysts have also issued research reports about the stock. Bank of America lifted their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. BNP Paribas began coverage on Coca-Cola in a report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target for the company. Barclays raised their price objective on Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. upped their target price on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Finally, Cfra restated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $71.07.

Insider Buying and Selling at Coca-Cola

In other news, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the transaction, the insider now directly owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the transaction, the insider now directly owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. Insiders sold a total of 974,715 shares of company stock worth $579,704,927 over the last three months. Corporate insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Coca-Cola

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tidemark LLC acquired a new stake in shares of Coca-Cola during the fourth quarter worth about $26,000. New Millennium Group LLC acquired a new stake in Coca-Cola during the 2nd quarter valued at approximately $26,000. Quarry LP acquired a new stake in Coca-Cola during the 2nd quarter valued at approximately $27,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Coca-Cola in the first quarter worth $28,000. Finally, ESL Trust Services LLC acquired a new stake in shares of Coca-Cola in the first quarter worth $28,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Up 0.2 %

The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The stock has a market cap of $311.12 billion, a PE ratio of 28.89, a PEG ratio of 3.93 and a beta of 0.60. The company’s fifty day moving average is $68.47 and its 200-day moving average is $64.04.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.03. The business had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 EPS. On average, analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.69%. Coca-Cola’s payout ratio is 77.60%.

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.