The Coca-Cola Co (KO) Sees Large Decline in Short Interest

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The Coca-Cola Co (NYSE:KO) was the recipient of a large decrease in short interest in March. As of March 29th, there was short interest totalling 24,513,347 shares, a decrease of 16.5% from the March 15th total of 29,347,831 shares. Currently, 0.6% of the company’s shares are short sold. Based on an average trading volume of 15,328,214 shares, the short-interest ratio is currently 1.6 days.

In related news, insider Beatriz R. Perez sold 21,742 shares of the stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $48.76, for a total transaction of $1,060,139.92. Following the transaction, the insider now owns 92,645 shares of the company’s stock, valued at approximately $4,517,370.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Beatriz R. Perez sold 10,000 shares of the stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $48.50, for a total value of $485,000.00. Following the transaction, the senior vice president now directly owns 92,645 shares in the company, valued at approximately $4,493,282.50. The disclosure for this sale can be found here. 1.33% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mraz Amerine & Associates Inc. grew its stake in The Coca-Cola by 0.4% during the 4th quarter. Mraz Amerine & Associates Inc. now owns 47,568 shares of the company’s stock worth $2,252,000 after buying an additional 208 shares during the last quarter. Reynders McVeigh Capital Management LLC grew its stake in The Coca-Cola by 0.9% during the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 22,977 shares of the company’s stock worth $1,061,000 after buying an additional 213 shares during the last quarter. Cordasco Financial Network grew its stake in The Coca-Cola by 26.1% during the 4th quarter. Cordasco Financial Network now owns 1,034 shares of the company’s stock worth $49,000 after buying an additional 214 shares during the last quarter. OmniStar Financial Group Inc. grew its stake in The Coca-Cola by 1.3% during the 1st quarter. OmniStar Financial Group Inc. now owns 17,021 shares of the company’s stock worth $798,000 after buying an additional 216 shares during the last quarter. Finally, Windsor Group LTD grew its stake in The Coca-Cola by 1.7% during the 4th quarter. Windsor Group LTD now owns 13,672 shares of the company’s stock worth $647,000 after buying an additional 222 shares during the last quarter. Institutional investors and hedge funds own 67.82% of the company’s stock.

KO opened at $47.00 on Tuesday. The Coca-Cola has a one year low of $41.45 and a one year high of $50.84. The stock has a market capitalization of $199.26 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 3.14 and a beta of 0.52. The company has a current ratio of 1.05, a quick ratio of 0.95 and a debt-to-equity ratio of 1.33.

The Coca-Cola (NYSE:KO) last released its quarterly earnings data on Thursday, February 14th. The company reported $0.43 EPS for the quarter, meeting analysts’ consensus estimates of $0.43. The Coca-Cola had a return on equity of 43.91% and a net margin of 20.20%. The business had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter in the prior year, the business posted $0.39 EPS. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, research analysts expect that The Coca-Cola will post 2.09 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.40%. This is an increase from The Coca-Cola’s previous quarterly dividend of $0.39. The Coca-Cola’s dividend payout ratio is presently 76.92%.

Several equities analysts recently issued reports on KO shares. Goldman Sachs Group reissued a “neutral” rating and set a $47.00 target price on shares of The Coca-Cola in a research note on Thursday, February 14th. Zacks Investment Research downgraded The Coca-Cola from a “hold” rating to a “sell” rating in a report on Friday, February 22nd. Royal Bank of Canada restated a “buy” rating and set a $56.00 price target on shares of The Coca-Cola in a report on Wednesday, February 13th. Citigroup downgraded The Coca-Cola from a “buy” rating to a “neutral” rating and cut their price target for the stock from $56.00 to $50.00 in a report on Thursday, February 14th. Finally, ValuEngine downgraded The Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, February 15th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $50.60.

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About The Coca-Cola

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant?based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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