Coca-Cola (NYSE:KO) Shares Down 0.9% – Here’s What Happened

The Coca-Cola Company (NYSE:KO)’s share price dropped 0.9% on Wednesday . The stock traded as low as $68.54 and last traded at $68.74. Approximately 4,002,775 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 13,908,897 shares. The stock had previously closed at $69.38.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KO. UBS Group boosted their price objective on shares of Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Barclays lifted their price objective on Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. Morgan Stanley raised their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $74.24.

Coca-Cola Stock Down 1.4 %

The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The firm has a 50-day simple moving average of $66.85 and a two-hundred day simple moving average of $66.55. The company has a market cap of $295.65 billion, a PE ratio of 27.83, a P/E/G ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 2.97%. Coca-Cola’s dividend payout ratio (DPR) is 82.59%.

Insider Transactions at Coca-Cola

In other Coca-Cola news, EVP Lisa Chang sold 13,445 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total transaction of $961,317.50. Following the completion of the transaction, the executive vice president now directly owns 94,676 shares of the company’s stock, valued at approximately $6,769,334. This trade represents a 12.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James Quincey sold 145,435 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at $24,324,191.46. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 313,423 shares of company stock worth $22,263,071 in the last three months. Company insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Coca-Cola

Several hedge funds and other institutional investors have recently bought and sold shares of KO. M1 Capital Management LLC acquired a new position in shares of Coca-Cola in the 4th quarter worth approximately $223,000. Chancellor Financial Group WB LP acquired a new position in Coca-Cola in the fourth quarter worth approximately $782,000. Thoma Capital Management LLC bought a new position in shares of Coca-Cola in the fourth quarter valued at $669,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Coca-Cola by 23.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,094,534 shares of the company’s stock valued at $68,146,000 after acquiring an additional 210,152 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC boosted its stake in shares of Coca-Cola by 4.4% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 14,213 shares of the company’s stock worth $885,000 after acquiring an additional 600 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

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.