CocaCola Company (The) (NYSE:KO) Plans $0.51 Quarterly Dividend

CocaCola Company (The) (NYSE:KO) declared a quarterly dividend on Thursday, July 17th, RTT News reports. Stockholders of record on Monday, September 15th will be given a dividend of 0.51 per share on Wednesday, October 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.89%.

CocaCola has a dividend payout ratio of 63.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect CocaCola to earn $3.19 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 63.9%.

CocaCola Stock Performance

CocaCola stock opened at $70.63 on Friday. The stock’s 50-day moving average is $70.73 and its 200-day moving average is $69.01. The company has a market cap of $303.99 billion, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 3.63 and a beta of 0.45. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.10 and a quick ratio of 0.89. CocaCola has a 12 month low of $60.62 and a 12 month high of $74.38.

CocaCola (NYSE:KO) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The company had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. CocaCola had a return on equity of 45.49% and a net margin of 23.00%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the business posted $0.72 EPS. Equities analysts anticipate that CocaCola will post 2.96 earnings per share for the current year.

Insider Buying and Selling at CocaCola

In other news, CFO John Murphy sold 88,658 shares of the company’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the sale, the chief financial officer owned 205,511 shares in the company, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the company’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the sale, the executive vice president owned 187,716 shares of the company’s stock, valued at approximately $13,491,148.92. This trade represents a 24.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 415,387 shares of company stock worth $29,923,985 over the last 90 days. 0.97% of the stock is currently owned by corporate insiders.

Institutional Trading of CocaCola

Large investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd acquired a new position in shares of CocaCola during the 1st quarter worth about $210,000. Revolve Wealth Partners LLC raised its holdings in CocaCola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after acquiring an additional 293 shares in the last quarter. Finally, Brighton Jones LLC raised its holdings in CocaCola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after acquiring an additional 4,591 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on KO shares. Royal Bank Of Canada lifted their price objective on CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Cfra Research raised CocaCola to a “strong-buy” rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. boosted their target price on CocaCola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research report on Thursday, March 27th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $81.00 target price on shares of CocaCola in a research report on Monday, June 9th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $76.71.

CocaCola 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.