Coca-Cola (NYSE:KO) Stock Price Up 1.7% – What’s Next?

The Coca-Cola Company (NYSE:KO) shares were up 1.7% on Thursday . The company traded as high as $63.74 and last traded at $63.72. Approximately 4,000,427 shares were traded during trading, a decline of 71% from the average daily volume of 13,791,956 shares. The stock had previously closed at $62.64.

Wall Street Analysts Forecast Growth

KO has been the subject of several recent analyst reports. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Morgan Stanley dropped their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Barclays decreased their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the stock from $68.00 to $70.00 in a research note on Thursday. Finally, Wells Fargo & Company reduced their price objective on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, December 2nd. 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $72.50.

Coca-Cola Stock Performance

The business’s fifty day moving average price is $65.41 and its two-hundred day moving average price is $66.58. 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 stock has a market capitalization of $271.91 billion, a P/E ratio of 26.08, a P/E/G ratio of 3.81 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data 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. The company had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 earnings per share. As a group, sell-side analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 3.07%. Coca-Cola’s dividend payout ratio is presently 80.17%.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Coca-Cola

Institutional investors and hedge funds have recently modified their holdings of the business. New Millennium Group LLC bought a new stake in shares of Coca-Cola during the second quarter worth $26,000. Quarry LP purchased a new position in Coca-Cola in the 2nd quarter worth about $27,000. Hara Capital LLC bought a new stake in Coca-Cola during the 3rd quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Coca-Cola in the 3rd quarter valued at about $36,000. Finally, Mount Lucas Management LP bought a new position in Coca-Cola in the 2nd quarter worth about $38,000. 70.26% of the stock is 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.