CocaCola (NYSE:KO) Shares Up 1.9% – Here’s Why

CocaCola Company (The) (NYSE:KO) shares traded up 1.9% during mid-day trading on Friday . The stock traded as high as $74.89 and last traded at $74.8250. 26,340,591 shares changed hands during mid-day trading, an increase of 43% from the average session volume of 18,481,029 shares. The stock had previously closed at $73.43.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on KO shares. Wells Fargo & Company boosted their target price on shares of CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. UBS Group reiterated a “buy” rating on shares of CocaCola in a research note on Friday, December 5th. Bank of America boosted their price objective on CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a report on Friday, November 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a report on Thursday, January 22nd. Finally, TD Cowen reiterated a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $79.69.

CocaCola Stock Up 1.9%

The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. The business’s fifty day moving average price is $70.83 and its 200 day moving average price is $69.46. The company has a market capitalization of $321.87 billion, a P/E ratio of 24.78, a P/E/G ratio of 3.75 and a beta of 0.39.

Insider Transactions at CocaCola

In related news, EVP Manuel Arroyo sold 139,689 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $70.80, for a total transaction of $9,889,981.20. Following the completion of the transaction, the executive vice president owned 58,067 shares in the company, valued at $4,111,143.60. This trade represents a 70.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Henrique Braun sold 40,390 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $70.93, for a total value of $2,864,862.70. Following the completion of the sale, the chief operating officer directly owned 62,621 shares in the company, valued at approximately $4,441,707.53. This represents a 39.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 211,704 shares of company stock valued at $15,005,595. Corporate insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On CocaCola

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KO. Sava Infond d.o.o. lifted its position in shares of CocaCola by 210.8% during the 2nd quarter. Sava Infond d.o.o. now owns 5,750 shares of the company’s stock valued at $407,000 after acquiring an additional 3,900 shares during the period. Vanguard Group Inc. raised its stake in CocaCola by 1.7% in the second quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock valued at $25,996,519,000 after purchasing an additional 6,241,163 shares in the last quarter. Aberdeen Group plc lifted its position in CocaCola by 5.0% during the second quarter. Aberdeen Group plc now owns 4,557,668 shares of the company’s stock worth $322,455,000 after purchasing an additional 216,752 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in CocaCola during the second quarter worth about $22,443,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of CocaCola by 1.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 10,408,798 shares of the company’s stock worth $690,311,000 after acquiring an additional 198,886 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

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.