Coca-Cola (NYSE:KO) Stock Price Up 0.1% – Here’s Why

The Coca-Cola Company (NYSE:KO)’s stock price shot up 0.1% during mid-day trading on Thursday . The company traded as high as $63.04 and last traded at $62.89. 3,466,620 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 13,908,067 shares. The stock had previously closed at $62.85.

Analyst Ratings Changes

KO has been the topic of a number of research analyst reports. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Wells Fargo & Company reduced their price objective on Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday, December 2nd. Truist Financial upped their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Barclays dropped their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus target price of $72.50.

Coca-Cola Trading Up 0.1 %

The company has a market capitalization of $270.96 billion, a PE ratio of 25.99, a price-to-earnings-growth ratio of 3.81 and a beta of 0.61. 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’s fifty day moving average price is $65.03 and its two-hundred day moving average price is $66.63.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the previous year, the business earned $0.74 earnings per share. The company’s revenue was down .8% on a year-over-year basis. Sell-side analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $0.485 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.08%. Coca-Cola’s payout ratio is 80.17%.

Insider Transactions at Coca-Cola

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

Hedge Funds Weigh In On Coca-Cola

Large investors have recently made changes to their positions in the business. Apella Capital LLC grew its position in Coca-Cola by 1.4% during the 3rd quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock worth $748,000 after purchasing an additional 146 shares in the last quarter. Investment Advisory Group LLC grew its stake in shares of Coca-Cola by 4.5% during the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock valued at $243,000 after purchasing an additional 146 shares during the last quarter. Elwood & Goetz Wealth Advisory Group LLC lifted its stake in shares of Coca-Cola by 2.2% during the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after acquiring an additional 149 shares during the period. CCG Wealth Management LLC boosted its holdings in Coca-Cola by 4.3% in the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock valued at $260,000 after acquiring an additional 149 shares during the last quarter. Finally, Investment Partners Asset Management Inc. lifted its position in Coca-Cola by 2.2% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after purchasing an additional 150 shares during the period. 70.26% of the stock is currently owned by hedge funds and other 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.