Coca-Cola (NYSE:KO) Trading Up 0.3%

The Coca-Cola Company (NYSE:KO) shares were up 0.3% during mid-day trading on Wednesday . The stock traded as high as $60.88 and last traded at $60.81. Approximately 3,349,093 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 13,759,296 shares. The stock had previously closed at $60.64.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on KO shares. JPMorgan Chase & Co. reduced their price objective on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Barclays boosted their price objective on shares of Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Finally, Citigroup boosted their price objective on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and an average price target of $67.22.

Coca-Cola Price Performance

The stock’s 50 day moving average is $60.07 and its two-hundred day moving average is $58.76. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.13 and a quick ratio of 0.95. The stock has a market capitalization of $266.22 billion, a PE ratio of 24.90, a price-to-earnings-growth ratio of 3.52 and a beta of 0.59.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The firm had revenue of $10.80 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same period in the prior year, the firm earned $0.45 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts forecast that The Coca-Cola Company will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.14%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, March 14th. Coca-Cola’s dividend payout ratio is 78.23%.

Insider Activity at Coca-Cola

In related news, EVP Beatriz R. Perez sold 52,300 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total value of $3,138,000.00. Following the completion of the transaction, the executive vice president now directly owns 143,383 shares of the company’s stock, valued at $8,602,980. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Nancy Quan sold 57,368 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Beatriz R. Perez sold 52,300 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $60.00, for a total value of $3,138,000.00. Following the completion of the sale, the executive vice president now directly owns 143,383 shares of the company’s stock, valued at $8,602,980. The disclosure for this sale can be found here. Insiders sold 375,407 shares of company stock valued at $22,795,742 over the last three months. 0.97% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coca-Cola

Several large investors have recently modified their holdings of the company. ZRC Wealth Management LLC lifted its holdings in shares of Coca-Cola by 213.3% during the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after purchasing an additional 320 shares during the period. Tidemark LLC acquired a new stake in shares of Coca-Cola during the fourth quarter worth $26,000. Private Wealth Management Group LLC acquired a new stake in shares of Coca-Cola during the fourth quarter worth $27,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Coca-Cola during the first quarter worth $28,000. Finally, Criterion Capital Advisors LLC purchased a new position in Coca-Cola in the fourth quarter worth $30,000. 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.