Coca-Cola (NYSE:KO) Stock Price Down 1.5% – What’s Next?

The Coca-Cola Company (NYSE:KOGet Free Report) shares were down 1.5% during mid-day trading on Wednesday . The company traded as low as $62.50 and last traded at $62.55. Approximately 3,656,805 shares were traded during trading, a decline of 73% from the average daily volume of 13,562,847 shares. The stock had previously closed at $63.52.

Analyst Ratings Changes

A number of equities analysts recently issued reports on KO shares. Truist Financial boosted their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Barclays dropped their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Morgan Stanley reduced their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.14.

Check Out Our Latest Stock Report on Coca-Cola

Coca-Cola Price Performance

The stock has a market cap of $267.73 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 3.87 and a beta of 0.61. The company has a 50-day moving average of $66.75 and a 200-day moving average of $66.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

Coca-Cola (NYSE:KOGet Free Report) last posted its earnings results 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 return on equity of 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the prior year, the company earned $0.74 EPS. Coca-Cola’s revenue was down .8% on a year-over-year basis. As a group, equities research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.12%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. New Millennium Group LLC acquired a new stake in shares of Coca-Cola during the 2nd quarter valued at $26,000. Quarry LP acquired a new stake in shares of Coca-Cola in the 2nd quarter valued at $27,000. Hara Capital LLC acquired a new stake in shares of Coca-Cola in the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola in the 3rd quarter valued at $36,000. Finally, Mount Lucas Management LP acquired a new stake in shares of Coca-Cola in the 2nd quarter valued at $38,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

About Coca-Cola

(Get Free Report)

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.

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