Coca-Cola (NYSE:KO) Shares Up 0.9% – Here’s Why

The Coca-Cola Company (NYSE:KO)’s share price was up 0.9% on Wednesday . The company traded as high as $72.67 and last traded at $72.51. Approximately 3,592,545 shares were traded during trading, a decline of 81% from the average daily volume of 18,515,645 shares. The stock had previously closed at $71.86.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. JPMorgan Chase & Co. reduced their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a report on Thursday, February 6th. Barclays reissued an “overweight” rating on shares of Coca-Cola in a research report on Thursday, March 27th. Morgan Stanley upped their target price on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, Evercore ISI increased their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $74.59.

Coca-Cola Trading Up 1.8 %

The company has a 50-day moving average price of $70.28 and a 200-day moving average price of $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. The firm has a market capitalization of $314.13 billion, a price-to-earnings ratio of 29.55, a PEG ratio of 3.79 and a beta of 0.45.

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

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Insider Activity

In related news, EVP Lisa Chang sold 13,445 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total transaction of $961,317.50. Following the transaction, the executive vice president now owns 94,676 shares of the company’s stock, valued at $6,769,334. This represents a 12.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James Quincey sold 145,435 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $24,324,191.46. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 313,423 shares of company stock valued at $22,263,071. 0.90% of the stock is currently owned by company insiders.

Institutional Trading of Coca-Cola

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KO. Rice Partnership LLC lifted its stake in shares of Coca-Cola by 7.1% during the fourth quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock valued at $6,397,000 after buying an additional 6,793 shares during the period. Fiduciary Alliance LLC grew its position in shares of Coca-Cola by 87.7% in the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock valued at $1,132,000 after purchasing an additional 8,499 shares during the period. Clark & Stuart Inc purchased a new position in Coca-Cola during the fourth quarter worth about $1,582,000. Wilmington Savings Fund Society FSB boosted its stake in Coca-Cola by 222.9% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 192,237 shares of the company’s stock worth $13,814,000 after buying an additional 132,701 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Coca-Cola by 1.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 893,192 shares of the company’s stock valued at $55,610,000 after purchasing an additional 8,810 shares during the period. Hedge funds and other institutional investors 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.