Coca-Cola (NYSE:KO) Trading Down 1.1% Following Insider Selling

The Coca-Cola Company (NYSE:KO)’s share price was down 1.1% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $70.64 and last traded at $70.68. Approximately 3,512,503 shares traded hands during trading, a decline of 79% from the average daily volume of 16,735,299 shares. The stock had previously closed at $71.49.

Specifically, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total transaction of $1,344,732.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

Several analysts have issued reports on KO shares. Morgan Stanley upped their price objective on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, January 8th. Piper Sandler reduced their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Evercore ISI boosted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $73.82.

Coca-Cola Stock Down 1.0 %

The stock has a market cap of $304.91 billion, a P/E ratio of 28.62, a P/E/G ratio of 3.79 and a beta of 0.61. The firm has a 50 day simple moving average of $64.03 and a two-hundred day simple moving average of $66.44. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Equities research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Friday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is currently 78.54%.

Institutional Investors Weigh In On Coca-Cola

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Peachtree Investment Partners LLC boosted its stake in Coca-Cola by 1.4% during the fourth quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company’s stock valued at $697,000 after buying an additional 157 shares in the last quarter. Fort Sheridan Advisors LLC lifted its holdings in Coca-Cola by 3.3% in the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock valued at $311,000 after acquiring an additional 161 shares during the last quarter. Excalibur Management Corp boosted its position in shares of Coca-Cola by 0.6% during the 4th quarter. Excalibur Management Corp now owns 29,412 shares of the company’s stock valued at $1,831,000 after purchasing an additional 161 shares in the last quarter. Wells Trecaso Financial Group LLC grew its stake in shares of Coca-Cola by 4.8% in the 4th quarter. Wells Trecaso Financial Group LLC now owns 3,616 shares of the company’s stock worth $225,000 after purchasing an additional 164 shares during the last quarter. Finally, Atlas Brown Inc. raised its holdings in shares of Coca-Cola by 0.8% in the 4th quarter. Atlas Brown Inc. now owns 21,024 shares of the company’s stock worth $1,309,000 after purchasing an additional 166 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

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.