Coca-Cola (NYSE:KO) Trading Up 0.2% – Here’s Why

The Coca-Cola Company (NYSE:KO) shot up 0.2% during trading on Tuesday . The stock traded as high as $71.91 and last traded at $71.77. 3,450,976 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 17,952,830 shares. The stock had previously closed at $71.62.

Analyst Upgrades and Downgrades

KO has been the subject of several research reports. UBS Group increased their price objective on Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Wells Fargo & Company increased their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Barclays restated an “overweight” rating on shares of Coca-Cola in a report on Thursday, March 27th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Wednesday, January 8th. Finally, Evercore ISI boosted their price target on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $74.24.

Coca-Cola Price Performance

The company has a market cap of $307.53 billion, a price-to-earnings ratio of 28.93, a P/E/G ratio of 3.79 and a beta of 0.57. The company’s 50 day moving average price is $68.33 and its 200 day moving average price is $66.42. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

Coca-Cola (NYSE:KO) last released its quarterly 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 return on equity of 45.37% and a net margin of 22.59%. On average, equities research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.51 dividend. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 2.85%. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Insider Transactions at Coca-Cola

In other news, insider Bruno Pietracci sold 19,058 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nikolaos Koumettis sold 54,708 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the sale, the insider now owns 246,909 shares in the company, valued at approximately $17,520,662.64. This trade represents a 18.14 % decrease in their ownership of the stock. 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 quarter. 0.97% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coca-Cola

Several large investors have recently made changes to their positions in KO. Crowley Wealth Management Inc. acquired a new stake in shares of Coca-Cola in the 4th quarter valued at about $27,000. Mainstream Capital Management LLC bought a new position in shares of Coca-Cola during the fourth quarter worth about $31,000. REAP Financial Group LLC raised its position in 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 during the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in Coca-Cola in the 4th quarter valued at approximately $38,000. Finally, Retirement Wealth Solutions LLC acquired a new position in Coca-Cola during the 4th quarter worth approximately $37,000. Institutional investors own 70.26% of the company’s stock.

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.