Coca-Cola (NYSE:KO) Trading 0.9% Higher – Still a Buy?

The Coca-Cola Company (NYSE:KO) shares were up 0.9% during mid-day trading on Thursday . The company traded as high as $70.93 and last traded at $70.65. Approximately 2,695,995 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 14,022,825 shares. The stock had previously closed at $70.02.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on KO. Piper Sandler boosted their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Evercore ISI lifted their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Morgan Stanley lifted their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a research note on Thursday, February 6th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.24.

Coca-Cola Stock Performance

The company has a market cap of $303.79 billion, a PE ratio of 28.58, a P/E/G ratio of 3.79 and a beta of 0.57. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The business’s fifty day moving average is $67.45 and its 200-day moving average is $66.43.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) 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%. As a group, research analysts predict that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 2.89%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is 82.59%.

Insider Activity at Coca-Cola

In other news, insider Nikolaos Koumettis sold 54,708 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 246,909 shares in the company, valued at $17,520,662.64. The trade was a 18.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Quincey sold 145,435 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $24,324,191.46. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coca-Cola

A number of institutional investors have recently added to or reduced their stakes in KO. Rice Partnership LLC grew its stake in Coca-Cola by 7.1% during the fourth quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock valued at $6,397,000 after acquiring an additional 6,793 shares in the last quarter. Fiduciary Alliance LLC grew its position in shares of Coca-Cola by 87.7% during the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock valued at $1,132,000 after purchasing an additional 8,499 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Coca-Cola by 14.5% in the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after purchasing an additional 4,013,996 shares during the last quarter. Clark & Stuart Inc purchased a new stake in shares of Coca-Cola in the fourth quarter worth about $1,582,000. Finally, Wilmington Savings Fund Society FSB boosted its stake in Coca-Cola by 222.9% during the third quarter. Wilmington Savings Fund Society FSB now owns 192,237 shares of the company’s stock valued at $13,814,000 after buying an additional 132,701 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other 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.