The Coca-Cola Target of Unusually High Options Trading (NYSE:KO)

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The Coca-Cola Co (NYSE:KO) was the target of unusually large options trading on Wednesday. Traders purchased 367,787 call options on the company. This is an increase of 2,612% compared to the typical volume of 13,561 call options.

Shares of The Coca-Cola stock opened at $51.64 on Thursday. The Coca-Cola has a 1 year low of $42.96 and a 1 year high of $52.19. The firm has a market cap of $218.98 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 3.51 and a beta of 0.50. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.02 and a quick ratio of 0.91.

The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.02. The Coca-Cola had a return on equity of 45.12% and a net margin of 20.91%. The business had revenue of $8 billion during the quarter, compared to the consensus estimate of $7.89 billion. During the same quarter last year, the firm posted $0.47 EPS. The company’s quarterly revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts forecast that The Coca-Cola will post 2.09 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Thursday, June 13th. The Coca-Cola’s dividend payout ratio is 76.92%.

In other The Coca-Cola news, insider Jennifer K. Mann sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $51.88, for a total transaction of $466,920.00. Following the completion of the transaction, the insider now owns 41,049 shares of the company’s stock, valued at approximately $2,129,622.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Robert Edward Long sold 30,412 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $49.97, for a total value of $1,519,687.64. Following the transaction, the senior vice president now directly owns 57,538 shares of the company’s stock, valued at approximately $2,875,173.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 316,600 shares of company stock valued at $15,760,365. 1.33% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. First National Corp MA ADV increased its position in The Coca-Cola by 7.6% during the 1st quarter. First National Corp MA ADV now owns 6,229 shares of the company’s stock worth $838,000 after buying an additional 438 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in The Coca-Cola by 0.4% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 251,597 shares of the company’s stock worth $11,789,000 after buying an additional 961 shares during the period. Belpointe Asset Management LLC increased its position in The Coca-Cola by 19.9% during the 1st quarter. Belpointe Asset Management LLC now owns 25,611 shares of the company’s stock worth $1,199,000 after buying an additional 4,253 shares during the period. Altfest L J & Co. Inc. increased its position in The Coca-Cola by 168.9% during the 1st quarter. Altfest L J & Co. Inc. now owns 53,477 shares of the company’s stock worth $2,488,000 after buying an additional 33,588 shares during the period. Finally, Marshall Wace North America L.P. bought a new position in The Coca-Cola during the 1st quarter worth $1,088,000. 66.83% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have weighed in on KO shares. Royal Bank of Canada reaffirmed a “buy” rating and set a $56.00 price target on shares of The Coca-Cola in a research report on Wednesday, February 13th. Deutsche Bank reaffirmed a “buy” rating and set a $53.00 price target on shares of The Coca-Cola in a research report on Thursday, April 18th. Zacks Investment Research raised The Coca-Cola from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Friday, April 26th. ValuEngine raised The Coca-Cola from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Finally, Barclays set a $54.00 price objective on The Coca-Cola and gave the company a “buy” rating in a report on Thursday, May 16th. Thirteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The Coca-Cola has a consensus rating of “Hold” and a consensus price target of $51.05.

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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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