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

The Coca-Cola Company (NYSE:KO) shares dropped 1% during trading on Wednesday . The stock traded as low as $67.28 and last traded at $67.75. Approximately 5,213,200 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 15,149,060 shares. The stock had previously closed at $68.42.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on KO shares. Barclays restated an “overweight” rating on shares of Coca-Cola in a report on Thursday, March 27th. Piper Sandler increased their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Evercore ISI lifted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Morgan Stanley increased their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.24.

Coca-Cola Stock Up 0.0 %

The company has a 50-day moving average of $69.03 and a two-hundred day moving average of $66.35. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $294.50 billion, a P/E ratio of 27.63, a price-to-earnings-growth ratio of 3.79 and a beta of 0.45.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping 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, research analysts predict 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 was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 2.98%. Coca-Cola’s dividend payout ratio (DPR) is presently 82.59%.

Insider Buying and Selling

In related news, COO Henrique Braun sold 25,277 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total value of $1,806,547.19. Following the transaction, the chief operating officer now directly owns 52,466 shares of the company’s stock, valued at approximately $3,749,745.02. This represents a 32.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction on Monday, February 24th. The stock was 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 have sold a total of 313,423 shares of company stock worth $22,263,071 in the last quarter. Corporate insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Coca-Cola

Several institutional investors have recently modified their holdings of KO. Rice Partnership LLC boosted its holdings in shares of Coca-Cola by 7.1% during the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock valued at $6,397,000 after acquiring an additional 6,793 shares during the last quarter. Fiduciary Alliance LLC grew its position in Coca-Cola by 87.7% in the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after purchasing an additional 8,499 shares during the period. Clark & Stuart Inc purchased a new stake in Coca-Cola during the 4th quarter valued at $1,582,000. Wilmington Savings Fund Society FSB boosted its stake in shares of Coca-Cola by 222.9% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 192,237 shares of the company’s stock worth $13,814,000 after buying an additional 132,701 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Coca-Cola by 1.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 893,192 shares of the company’s stock worth $55,610,000 after acquiring an additional 8,810 shares during the period. 70.26% of the stock is 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.