Coca-Cola (NYSE:KO) Shares Up 1% – What’s Next?

Shares of The Coca-Cola Company (NYSE:KO) traded up 1% during mid-day trading on Wednesday . The company traded as high as $69.47 and last traded at $69.47. 3,187,663 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 14,018,309 shares. The stock had previously closed at $68.81.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on KO shares. Morgan Stanley raised their target price on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Piper Sandler boosted their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. dropped their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 target price on shares of Coca-Cola in a research note on Thursday, February 6th. Finally, Barclays upped their price target on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.24.

Coca-Cola Stock Performance

The firm’s 50 day moving average is $67.62 and its 200 day moving average is $66.46. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The stock has a market cap of $302.80 billion, a P/E ratio of 28.49, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.51 per share. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Insider Activity at Coca-Cola

In related news, EVP Lisa Chang sold 13,445 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. Insiders sold a total of 313,423 shares of company stock worth $22,263,071 in the last 90 days. Corporate insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Coca-Cola

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Crowley Wealth Management Inc. purchased a new position in shares of Coca-Cola in the 4th quarter valued at about $27,000. Mainstream Capital Management LLC acquired a new stake in Coca-Cola during the fourth quarter worth approximately $31,000. REAP Financial Group LLC boosted its holdings in shares of Coca-Cola by 57.5% in the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock valued at $35,000 after buying an additional 208 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of Coca-Cola in the 4th quarter valued at $37,000. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in Coca-Cola during the 4th quarter worth $38,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

About Coca-Cola

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.