CocaCola (NYSE:KO) Trading Down 1.1% – Here’s What Happened

CocaCola Company (The) (NYSE:KO) shares dropped 1.1% on Friday . The company traded as low as $68.98 and last traded at $69.1140. Approximately 11,902,243 shares changed hands during trading, a decline of 19% from the average daily volume of 14,746,126 shares. The stock had previously closed at $69.91.

Analysts Set New Price Targets

A number of research firms have commented on KO. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. Cowen restated a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. UBS Group reiterated a “buy” rating on shares of CocaCola in a research report on Friday, December 5th. Wells Fargo & Company boosted their price objective on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Piper Sandler raised their target price on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company’s stock. According to data from MarketBeat, CocaCola currently has an average rating of “Buy” and a consensus price target of $79.08.

CocaCola Stock Down 1.1%

The firm has a 50-day moving average of $70.49 and a two-hundred day moving average of $69.35. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $297.30 billion, a PE ratio of 22.89, a price-to-earnings-growth ratio of 3.56 and a beta of 0.39.

CocaCola (NYSE:KO) last announced its quarterly earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The business had revenue of $11.40 billion for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%. Equities research analysts predict that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Monday, December 1st. CocaCola’s dividend payout ratio (DPR) is 67.55%.

Insider Buying and Selling at CocaCola

In other news, EVP Nancy Quan sold 31,625 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $71.17, for a total value of $2,250,751.25. Following the sale, the executive vice president directly owned 223,330 shares of the company’s stock, valued at approximately $15,894,396.10. The trade was a 12.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Max R. Levchin acquired 7,206 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was bought at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the completion of the acquisition, the director owned 14,267 shares in the company, valued at approximately $996,835.29. The trade was a 102.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders sold 225,252 shares of company stock valued at $15,953,007. 0.97% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CocaCola

Institutional investors have recently modified their holdings of the company. Brighton Jones LLC boosted its stake in shares of CocaCola by 13.3% in the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after purchasing an additional 4,591 shares during the period. Revolve Wealth Partners LLC lifted its holdings in CocaCola by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock worth $548,000 after buying an additional 293 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in CocaCola by 13.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 487,991 shares of the company’s stock worth $34,946,000 after buying an additional 58,543 shares in the last quarter. New England Asset Management Inc. boosted its position in CocaCola by 0.6% in the 1st quarter. New England Asset Management Inc. now owns 89,186 shares of the company’s stock valued at $6,388,000 after buying an additional 535 shares during the period. Finally, Plancorp LLC grew its stake in shares of CocaCola by 26.2% in the first quarter. Plancorp LLC now owns 16,464 shares of the company’s stock worth $1,179,000 after acquiring an additional 3,416 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

About CocaCola

The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.