Coca-Cola (NYSE:KO) Shares Down 0.1% – Should You Sell?

The Coca-Cola Company (NYSE:KO)’s stock price dropped 0.1% during mid-day trading on Tuesday . The stock traded as low as $64.06 and last traded at $64.32. Approximately 3,438,067 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 13,514,188 shares. The stock had previously closed at $64.38.

Analysts Set New Price Targets

A number of research analysts recently weighed in on KO shares. Morgan Stanley decreased their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Wells Fargo & Company increased their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Barclays reduced their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Finally, Truist Financial raised their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average target price of $72.36.

Coca-Cola Price Performance

The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $278.07 billion, a price-to-earnings ratio of 26.58, a P/E/G ratio of 3.88 and a beta of 0.61. The business’s 50 day simple moving average is $67.63 and its 200-day simple moving average is $66.58.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period last year, the firm posted $0.74 earnings per share. The firm’s quarterly revenue was down .8% compared to the same quarter last year. On average, research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.01%. Coca-Cola’s dividend payout ratio (DPR) is currently 80.17%.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.97% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Apella Capital LLC lifted its position in Coca-Cola by 1.4% during the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock valued at $748,000 after purchasing an additional 146 shares during the period. Investment Advisory Group LLC boosted its position in Coca-Cola by 4.5% in the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock worth $243,000 after purchasing an additional 146 shares during the last quarter. Elwood & Goetz Wealth Advisory Group LLC increased its position in shares of Coca-Cola by 2.2% during the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after purchasing an additional 149 shares during the last quarter. CCG Wealth Management LLC lifted its stake in shares of Coca-Cola by 4.3% in the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after purchasing an additional 149 shares during the period. Finally, Investment Partners Asset Management Inc. boosted its holdings in shares of Coca-Cola by 2.2% in the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock worth $500,000 after buying an additional 150 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

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.