Coca-Cola (NYSE:KO) Trading 0.4% Higher

The Coca-Cola Company (NYSE:KO)’s stock price traded up 0.4% on Tuesday . The stock traded as high as $69.30 and last traded at $69.23. 2,097,702 shares were traded during trading, a decline of 84% from the average session volume of 12,963,125 shares. The stock had previously closed at $68.98.

Analysts Set New Price Targets

Several analysts have weighed in on the company. UBS Group boosted their price objective on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Bank of America increased their target price on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Evercore ISI increased their target price on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. raised their price target on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, Barclays raised their price target on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus target price of $70.20.

Coca-Cola Stock Up 0.6 %

The firm has a fifty day simple moving average of $65.22 and a 200-day simple moving average of $62.46. The firm has a market cap of $298.89 billion, a price-to-earnings ratio of 27.69, a P/E/G ratio of 3.80 and a beta of 0.59. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.03. The firm had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.78 EPS. As a group, sell-side analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.80%. The ex-dividend date is Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

Insider Buying and Selling

In related news, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total value of $1,224,645.76. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $14,168,055.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Coca-Cola news, EVP Lisa Chang sold 58,122 shares of Coca-Cola stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total value of $3,981,938.22. Following the transaction, the executive vice president now owns 74,067 shares in the company, valued at $5,074,330.17. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total value of $1,224,645.76. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,168,055.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 871,162 shares of company stock worth $571,697,887. Company insiders own 0.97% of the company’s stock.

Institutional Trading of Coca-Cola

Hedge funds have recently made changes to their positions in the company. Elwood & Goetz Wealth Advisory Group LLC lifted its position in Coca-Cola by 2.2% during the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after purchasing an additional 149 shares in the last quarter. Drive Wealth Management LLC lifted its position in Coca-Cola by 1.6% during the second quarter. Drive Wealth Management LLC now owns 9,824 shares of the company’s stock valued at $630,000 after purchasing an additional 151 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in Coca-Cola by 4.4% during the second quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock valued at $231,000 after purchasing an additional 153 shares in the last quarter. Liberty Capital Management Inc. lifted its position in Coca-Cola by 3.7% during the second quarter. Liberty Capital Management Inc. now owns 4,319 shares of the company’s stock valued at $275,000 after purchasing an additional 155 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV lifted its position in shares of Coca-Cola by 0.4% in the second quarter. Azzad Asset Management Inc. ADV now owns 42,407 shares of the company’s stock valued at $2,699,000 after acquiring an additional 160 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

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.