Coca-Cola (NYSE:KO) Trading Down 0.2% Following Analyst Downgrade

The Coca-Cola Company (NYSE:KO) fell 0.2% on Monday after Wells Fargo & Company lowered their price target on the stock from $78.00 to $75.00. Wells Fargo & Company currently has an overweight rating on the stock. Coca-Cola traded as low as $63.35 and last traded at $63.92. 2,846,864 shares changed hands during trading, a decline of 79% from the average session volume of 13,503,059 shares. The stock had previously closed at $64.08.

A number of other equities research analysts have also recently issued reports on the stock. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Barclays cut their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Morgan Stanley dropped their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Truist Financial boosted their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating, twelve 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 a consensus target price of $72.14.

Insider Transactions at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.97% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. FMR LLC lifted its position in Coca-Cola by 13.7% during the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after buying an additional 11,206,995 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Coca-Cola by 14.5% during the 3rd 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 in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Coca-Cola in the third quarter valued at $269,382,000. Geode Capital Management LLC raised its position in Coca-Cola by 3.3% during the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after acquiring an additional 2,966,964 shares in the last quarter. Finally, Manning & Napier Advisors LLC bought a new stake in Coca-Cola during the second quarter worth $188,448,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Down 0.4 %

The stock has a market cap of $274.92 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 3.89 and a beta of 0.61. The business’s 50 day simple moving average is $67.07 and its 200 day simple moving average is $66.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter last year, the company posted $0.74 earnings per share. Coca-Cola’s quarterly revenue was down .8% on a year-over-year basis. On average, research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.04%. Coca-Cola’s payout ratio is currently 80.17%.

Coca-Cola Company Profile

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.