Coca-Cola (NYSE:KO) Stock Price Down 0.1% – What’s Next?

The Coca-Cola Company (NYSE:KO) traded down 0.1% during mid-day trading on Thursday . The stock traded as low as $69.27 and last traded at $69.24. 2,712,900 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 13,899,696 shares. The stock had previously closed at $69.28.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KO. UBS Group lifted their price objective on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Piper Sandler lifted their price objective on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Morgan Stanley increased their price target on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Wells Fargo & Company boosted their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. decreased their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Two 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.24.

Coca-Cola Price Performance

The company has a market cap of $298.46 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 3.79 and a beta of 0.57. The company’s 50 day moving average price is $66.69 and its 200-day moving average price is $66.53. 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 announced its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. On average, equities research analysts forecast that The Coca-Cola Company will post 2.96 earnings per share 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. Investors of record on Friday, March 14th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.94%. 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 presently 82.59%.

Insider Activity

In related news, CEO James Quincey sold 145,435 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at $24,324,191.46. This represents a 29.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Henrique Braun sold 25,277 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the completion of the sale, the chief operating officer now owns 52,466 shares in the company, valued at $3,749,745.02. This represents a 32.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is owned by corporate insiders.

Institutional Trading of Coca-Cola

A number of institutional investors and hedge funds have recently modified their holdings of the company. M1 Capital Management LLC bought a new stake in Coca-Cola in the 4th quarter valued at $223,000. Chancellor Financial Group WB LP acquired a new position in Coca-Cola in the fourth quarter worth about $782,000. Thoma Capital Management LLC bought a new position in Coca-Cola during the fourth quarter worth about $669,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Coca-Cola by 23.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,094,534 shares of the company’s stock valued at $68,146,000 after purchasing an additional 210,152 shares during the period. Finally, NorthCrest Asset Manangement LLC raised its holdings in shares of Coca-Cola by 4.4% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 14,213 shares of the company’s stock worth $885,000 after buying an additional 600 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

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.