The Coca-Cola Company (KO) To Go Ex-Dividend on November 29th

The Coca-Cola Company (NYSE:KO) announced a quarterly dividend on Thursday, October 17th, Wall Street Journal reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.485 per share on Monday, December 16th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Friday, November 29th.

Coca-Cola has increased its dividend payment by an average of 3.9% per year over the last three years and has raised its dividend annually for the last 63 consecutive years. Coca-Cola has a dividend payout ratio of 63.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Coca-Cola to earn $3.03 per share next year, which means the company should continue to be able to cover its $1.94 annual dividend with an expected future payout ratio of 64.0%.

Coca-Cola Price Performance

Coca-Cola stock opened at $70.43 on Friday. The firm has a market cap of $303.41 billion, a P/E ratio of 28.17, a P/E/G ratio of 3.92 and a beta of 0.60. The stock’s 50 day moving average is $70.70 and its 200 day moving average is $65.72. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. Coca-Cola has a one year low of $53.86 and a one year high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. During the same quarter in the previous year, the company earned $0.78 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, research analysts expect that Coca-Cola will post 2.85 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Nancy Quan sold 18,482 shares of Coca-Cola stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,398,603.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Nancy Quan sold 18,482 shares of Coca-Cola stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,398,603.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 356,792 shares of company stock valued at $24,728,364. Corporate insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on KO shares. Citigroup increased their price target on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price target on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. BNP Paribas started coverage on shares of Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 target price on the stock. Finally, Truist Financial raised their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

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.