Coca-Cola (NYSE:KO) Shares Up 1.1% – Time to Buy?

The Coca-Cola Company (NYSE:KO)’s share price traded up 1.1% on Wednesday . The company traded as high as $69.80 and last traded at $69.79. 3,843,934 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 16,411,090 shares. The stock had previously closed at $69.05.

Analyst Ratings Changes

KO has been the topic of several analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price target on shares of Coca-Cola in a research report on Thursday, February 6th. Piper Sandler lowered their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Barclays boosted their price target on Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, Morgan Stanley increased their price objective on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.82.

Coca-Cola Stock Up 1.9 %

The firm has a market cap of $307.46 billion, a P/E ratio of 28.90, a P/E/G ratio of 3.79 and a beta of 0.61. The firm’s fifty day moving average is $63.54 and its 200 day moving average is $66.41. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. As a group, equities research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.86%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. Coca-Cola’s dividend payout ratio is currently 78.54%.

Institutional Investors Weigh In On Coca-Cola

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in Coca-Cola during the fourth quarter worth about $3,402,151,000. Capital International Investors boosted its holdings in Coca-Cola by 96.0% in the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock valued at $1,553,337,000 after purchasing an additional 12,222,885 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Coca-Cola by 18.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after purchasing an additional 11,569,920 shares in the last quarter. FMR LLC increased its holdings in shares of Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $500,192,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

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.