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

The Coca-Cola Company (NYSE:KO) was the target of some unusual options trading on Thursday. Stock traders acquired 72,457 put options on the company. This represents an increase of approximately 43% compared to the average volume of 50,522 put options.

Wall Street Analysts Forecast Growth

KO has been the topic of several research analyst reports. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Wells Fargo & Company decreased their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Barclays lowered their price target on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday. Morgan Stanley dropped their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.13.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.97% of the company’s stock.

Institutional Trading of Coca-Cola

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KO. Harvest Portfolios Group Inc. purchased a new position in shares of Coca-Cola in the 3rd quarter valued at about $18,383,000. Balentine LLC grew its holdings in Coca-Cola by 92.4% in the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after purchasing an additional 13,685 shares during the period. Sheaff Brock Investment Advisors LLC increased its position in shares of Coca-Cola by 104.9% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock valued at $8,351,000 after buying an additional 59,503 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Coca-Cola by 5.8% during the 3rd quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock worth $61,122,000 after buying an additional 46,541 shares during the period. Finally, Fiduciary Alliance LLC lifted its position in shares of Coca-Cola by 87.7% during the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock valued at $1,132,000 after buying an additional 8,499 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO stock opened at $62.76 on Friday. Coca-Cola has a 52-week low of $57.93 and a 52-week high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The stock has a market cap of $270.34 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 3.35 and a beta of 0.61. The business has a 50-day simple moving average of $62.71 and a 200-day simple moving average of $66.41.

Coca-Cola (NYSE:KO) last announced its quarterly 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. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Coca-Cola’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 earnings per share. On average, equities analysts expect that Coca-Cola will post 2.85 EPS for the current year.

Coca-Cola 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.