The Coca-Cola Company (NYSE:KO) Sees Large Growth in Short Interest

The Coca-Cola Company (NYSE:KO) was the target of a large increase in short interest in February. As of February 15th, there was short interest totalling 42,890,000 shares, an increase of 44.9% from the January 31st total of 29,590,000 shares. Based on an average daily volume of 17,730,000 shares, the short-interest ratio is currently 2.4 days. Approximately 1.0% of the shares of the stock are short sold.

Coca-Cola Trading Down 3.1 %

NYSE KO opened at $70.08 on Wednesday. The company’s fifty day simple moving average is $64.87 and its 200-day simple moving average is $66.53. The stock has a market cap of $301.40 billion, a P/E ratio of 28.37, a PEG ratio of 3.79 and a beta of 0.61. Coca-Cola has a 52 week low of $57.93 and a 52 week high of $73.53. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last posted 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 Coca-Cola will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 yield of 2.91%. The ex-dividend date of this dividend 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 82.59%.

Insider Transactions at Coca-Cola

In related news, insider Nikolaos Koumettis sold 54,708 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total value of $3,882,079.68. Following the completion of the transaction, the insider now directly owns 246,909 shares in the company, valued at approximately $17,520,662.64. This represents a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James Quincey sold 145,435 shares of Coca-Cola stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $24,324,191.46. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 232,646 shares of company stock valued at $16,515,469 in the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Coca-Cola

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Crowley Wealth Management Inc. acquired a new stake in Coca-Cola in the fourth quarter valued at $27,000. Mainstream Capital Management LLC bought a new stake in shares of Coca-Cola in the 4th quarter worth about $31,000. Hara Capital LLC acquired a new stake in shares of Coca-Cola in the 3rd quarter valued at about $35,000. REAP Financial Group LLC lifted its position in shares of Coca-Cola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after purchasing an additional 208 shares during the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new position in Coca-Cola in the fourth quarter worth about $37,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on KO shares. 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 research report on Thursday, February 13th. Wells Fargo & Company upped their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Morgan Stanley increased their target price on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Piper Sandler boosted their price target on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $74.24.

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.