The Coca-Cola Company (NYSE:KO – Get Free Report) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Shareholders of record on Friday, June 14th will be paid a dividend of 0.485 per share on Monday, July 1st. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, June 14th.
Coca-Cola has raised its dividend payment by an average of 3.9% annually over the last three years and has increased its dividend annually for the last 63 consecutive years.
Coca-Cola Stock Performance
KO stock opened at $62.18 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.95 and a debt-to-equity ratio of 1.26. The firm has a market cap of $268.05 billion, a P/E ratio of 24.87, a P/E/G ratio of 3.54 and a beta of 0.57. Coca-Cola has a 12-month low of $51.55 and a 12-month high of $64.25. The stock’s 50 day simple moving average is $60.22 and its 200 day simple moving average is $59.06.
Analysts Set New Price Targets
Several research firms recently issued reports on KO. UBS Group upped their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup upped their price objective on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. JPMorgan Chase & Co. upped their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday. Barclays upped their price objective on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Evercore ISI increased their price target on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.27.
Get Our Latest Analysis on Coca-Cola
Insider Activity at Coca-Cola
In related news, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The disclosure for this sale can be found here. Insiders sold 323,107 shares of company stock valued at $19,657,742 over the last 90 days. 0.97% of the stock is currently owned by corporate insiders.
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.
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