By otakuyassine3@gmail.com 
The Coca-Cola Company (NYSE:KO – Get Free Report) traded up 1.5% on Tuesday . The stock traded as high as $63.55 and last traded at $63.50. 3,124,887 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 13,846,980 shares. The stock had previously closed at $62.55.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on KO shares. Truist Financial increased their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company cut their target price on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday, December 2nd. Barclays decreased their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.50.
Read Our Latest Stock Analysis on Coca-Cola
Coca-Cola Stock Down 0.6 %
The company has a market capitalization of $269.02 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 3.81 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The business has a 50-day simple moving average of $65.03 and a two-hundred day simple moving average of $66.63.
Coca-Cola (NYSE:KO – Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same period last year, the firm posted $0.74 EPS. Coca-Cola’s quarterly revenue was down .8% on a year-over-year basis. As a group, equities analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.
Coca-Cola Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.
Insiders Place Their Bets
In other news, CEO James Quincey sold 100,000 shares of Coca-Cola 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 completion of the sale, the chief executive officer now directly 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. Insiders own 0.97% of the company’s stock.
Hedge Funds Weigh In On Coca-Cola
Hedge funds have recently bought and sold shares of the company. Apella Capital LLC increased its position in Coca-Cola by 1.4% in the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock worth $748,000 after buying an additional 146 shares during the period. Investment Advisory Group LLC lifted its position in Coca-Cola by 4.5% in the 3rd 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 boosted its stake in Coca-Cola by 2.2% during the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after purchasing an additional 149 shares during the period. CCG Wealth Management LLC boosted its position in shares of Coca-Cola by 4.3% during the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after buying an additional 149 shares during the period. Finally, Investment Partners Asset Management Inc. raised its stake 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 acquiring an additional 150 shares in the last quarter. 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.
Further Reading
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