CocaCola (NYSE:KO) Shares Down 1.6% – What’s Next?
by Jessica Moore · The Cerbat GemCocaCola Company (The) (NYSE:KO – Get Free Report)’s stock price dropped 1.6% during trading on Monday . The company traded as low as $67.92 and last traded at $67.98. Approximately 21,119,531 shares were traded during mid-day trading, an increase of 27% from the average daily volume of 16,610,568 shares. The stock had previously closed at $69.12.
Analyst Ratings Changes
A number of analysts have recently issued reports on KO shares. TD Cowen lifted their price objective on shares of CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Piper Sandler lifted their price target on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Bank of America upped their price objective on CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Barclays reissued an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. Based on data from MarketBeat, CocaCola currently has an average rating of “Buy” and an average price target of $79.08.
Check Out Our Latest Report on CocaCola
CocaCola Trading Down 1.6%
The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. The firm has a 50-day moving average of $70.49 and a 200-day moving average of $69.35. The firm has a market capitalization of $292.42 billion, a P/E ratio of 23.27, a price-to-earnings-growth ratio of 3.56 and a beta of 0.39.
CocaCola (NYSE:KO – Get Free Report) last released its quarterly earnings data on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%.The firm had revenue of $11.40 billion during the quarter. On average, equities research analysts anticipate that CocaCola Company will post 2.96 EPS for the current fiscal year.
CocaCola Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, December 1st. CocaCola’s dividend payout ratio is 67.55%.
Insider Activity at CocaCola
In other CocaCola news, Director Max R. Levchin bought 7,206 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The shares were bought at an average cost of $69.87 per share, with a total value of $503,483.22. Following the completion of the purchase, the director directly owned 14,267 shares of the company’s stock, valued at $996,835.29. This trade represents a 102.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Manuel Arroyo sold 139,689 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $70.80, for a total value of $9,889,981.20. Following the transaction, the executive vice president directly owned 58,067 shares of the company’s stock, valued at $4,111,143.60. The trade was a 70.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 225,252 shares of company stock valued at $15,953,007 in the last quarter. 0.90% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in KO. Norges Bank bought a new stake in shares of CocaCola during the second quarter valued at approximately $3,846,270,000. Vanguard Group Inc. increased its position in CocaCola by 1.7% in the second quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock worth $25,996,519,000 after buying an additional 6,241,163 shares in the last quarter. Laurel Wealth Advisors LLC lifted its holdings in CocaCola by 7,239.2% during the second quarter. Laurel Wealth Advisors LLC now owns 6,149,632 shares of the company’s stock valued at $435,086,000 after purchasing an additional 6,065,840 shares in the last quarter. Franklin Resources Inc. boosted its holdings in CocaCola by 15.1% in the 3rd quarter. Franklin Resources Inc. now owns 39,094,276 shares of the company’s stock worth $2,592,732,000 after buying an additional 5,135,198 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in CocaCola by 343.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,486,096 shares of the company’s stock valued at $297,518,000 after buying an additional 3,474,015 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.
CocaCola Company Profile
The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.
Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.