Coca-Cola (NYSE:KO) Stock Price Down 0.2% on Analyst Downgrade

The Coca-Cola Company (NYSE:KO) shares traded down 0.2% during trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $66.00 to $65.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Coca-Cola traded as low as $59.72 and last traded at $60.02. 2,966,978 shares were traded during trading, a decline of 78% from the average session volume of 13,734,468 shares. The stock had previously closed at $60.17.

Several other analysts also recently issued reports on the stock. Citigroup upped their price objective on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Barclays upped their price objective on shares of Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and an average target price of $67.09.

Insider Buying and Selling at Coca-Cola

In other news, EVP Beatriz R. Perez sold 52,300 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the completion of the transaction, the executive vice president now directly owns 143,383 shares of the company’s stock, valued at approximately $8,602,980. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Beatriz R. Perez sold 52,300 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the transaction, the executive vice president now directly owns 143,383 shares of the company’s stock, valued at $8,602,980. The disclosure for this sale can be found here. Insiders sold a total of 375,407 shares of company stock valued at $22,795,742 in the last ninety days. Company insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Coca-Cola

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tidemark LLC acquired a new stake in shares of Coca-Cola during the 4th quarter worth about $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Coca-Cola during the 1st quarter worth about $28,000. Private Wealth Management Group LLC acquired a new stake in shares of Coca-Cola during the 4th quarter worth about $27,000. ZRC Wealth Management LLC increased its position in shares of Coca-Cola by 213.3% during the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after purchasing an additional 320 shares in the last quarter. Finally, Criterion Capital Advisors LLC acquired a new stake in Coca-Cola in the 4th quarter valued at about $30,000. 70.26% of the stock is owned by institutional investors.

Coca-Cola Stock Up 0.1 %

The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.13. The stock has a market cap of $261.43 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 3.44 and a beta of 0.59. The firm’s 50-day simple moving average is $59.98 and its two-hundred day simple moving average is $58.72.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. The firm had revenue of $10.80 billion during the quarter, compared to analysts’ expectations of $10.68 billion. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.45 EPS. On average, sell-side analysts expect that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.20%. The ex-dividend date was Thursday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s dividend payout ratio (DPR) is presently 78.23%.

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.