Coca-Cola (NYSE:KO) Stock Price Down 0.3% After Insider Selling

The Coca-Cola Company (NYSE:KO)’s share price was down 0.3% on Wednesday following insider selling activity. The company traded as low as $62.51 and last traded at $62.99. Approximately 2,694,899 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 13,246,997 shares. The stock had previously closed at $63.20.

Specifically, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Truist Financial increased their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company raised their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and a consensus price target of $72.36.

Coca-Cola Stock Down 0.7 %

The company’s 50 day moving average price is $68.99 and its two-hundred day moving average price is $66.51. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm has a market cap of $269.43 billion, a PE ratio of 25.85, a PEG ratio of 3.84 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Coca-Cola’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 earnings per share. On average, equities research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 80.17%.

Hedge Funds Weigh In On Coca-Cola

A number of hedge funds have recently modified their holdings of KO. New Millennium Group LLC purchased a new stake in shares of Coca-Cola during the second quarter worth about $26,000. Quarry LP bought a new position in Coca-Cola in the 2nd quarter worth approximately $27,000. ESL Trust Services LLC purchased a new stake in Coca-Cola during the 1st quarter valued at approximately $28,000. Hara Capital LLC bought a new stake in shares of Coca-Cola during the third quarter valued at approximately $35,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola in the third quarter worth $36,000. 70.26% of the stock is currently owned by 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.