CocaCola (NYSE:KO) Trading Down 1.4% – Here’s What Happened

CocaCola Company (The) (NYSE:KO)’s stock price dropped 1.4% on Thursday . The company traded as low as $80.34 and last traded at $80.45. Approximately 14,590,622 shares were traded during trading, a decline of 13% from the average daily volume of 16,689,021 shares. The stock had previously closed at $81.62.

Wall Street Analysts Forecast Growth

KO has been the topic of a number of research reports. UBS Group increased their target price on shares of CocaCola from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Truist Financial set a $85.00 target price on shares of CocaCola in a report on Wednesday, February 11th. Evercore reissued an “outperform” rating and set a $85.00 target price on shares of CocaCola in a report on Wednesday, February 11th. Weiss Ratings raised shares of CocaCola from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, May 4th. Finally, TD Cowen increased their target price on shares of CocaCola from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Fifteen analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $86.80.

CocaCola Stock Down 1.8%

The firm’s 50-day moving average price is $77.75 and its 200 day moving average price is $75.06. The firm has a market cap of $339.71 billion, a P/E ratio of 24.83, a price-to-earnings-growth ratio of 3.21 and a beta of 0.35. The company has a quick ratio of 1.15, a current ratio of 1.36 and a debt-to-equity ratio of 1.09.

CocaCola (NYSE:KO) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. The business had revenue of $12.47 billion during the quarter, compared to analyst estimates of $12.24 billion. CocaCola had a net margin of 27.80% and a return on equity of 40.55%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 earnings per share. CocaCola has set its FY 2026 guidance at 3.240-3.270 EPS. As a group, research analysts expect that CocaCola Company will post 3.26 earnings per share for the current year.

CocaCola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Monday, June 15th. CocaCola’s dividend payout ratio is currently 66.67%.

Insider Transactions at CocaCola

In related news, EVP Nancy Quan sold 31,625 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $80.93, for a total value of $2,559,411.25. Following the completion of the transaction, the executive vice president owned 223,330 shares in the company, valued at $18,074,096.90. This represents a 12.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO John Murphy sold 72,449 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $80.52, for a total transaction of $5,833,593.48. Following the completion of the transaction, the chief financial officer owned 279,917 shares of the company’s stock, valued at $22,538,916.84. This represents a 20.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 630,963 shares of company stock worth $50,016,979 over the last ninety days. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On CocaCola

A number of institutional investors and hedge funds have recently bought and sold shares of KO. Norges Bank acquired a new stake in CocaCola in the 4th quarter valued at about $3,865,807,000. Cardano Risk Management B.V. lifted its holdings in CocaCola by 867.2% in the 4th quarter. Cardano Risk Management B.V. now owns 14,432,190 shares of the company’s stock valued at $1,008,954,000 after acquiring an additional 12,939,959 shares during the last quarter. Marshall Wace LLP lifted its holdings in CocaCola by 1,206.9% in the 4th quarter. Marshall Wace LLP now owns 10,641,007 shares of the company’s stock valued at $743,913,000 after acquiring an additional 9,826,768 shares during the last quarter. Bank of America Corp DE lifted its holdings in CocaCola by 29.2% in the 4th quarter. Bank of America Corp DE now owns 40,182,323 shares of the company’s stock valued at $2,809,146,000 after acquiring an additional 9,078,447 shares during the last quarter. Finally, Capital World Investors lifted its holdings in CocaCola by 98.7% in the 4th quarter. Capital World Investors now owns 12,573,527 shares of the company’s stock valued at $879,015,000 after acquiring an additional 6,246,627 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

About CocaCola

The Coca?Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca?Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready?to?drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca?Cola’s brand portfolio includes widely recognized names such as Coca?Cola, Diet Coke, Coca?Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.