The Coca-Cola Co (NYSE:KO) declared a quarterly dividend on Thursday, October 18th, RTT News reports. Shareholders of record on Friday, November 30th will be given a dividend of 0.39 per share on Friday, December 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Thursday, November 29th.
The Coca-Cola has raised its dividend by an average of 6.7% per year over the last three years and has increased its dividend annually for the last 55 consecutive years. The Coca-Cola has a payout ratio of 75.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect The Coca-Cola to earn $2.21 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 70.6%.
NYSE KO opened at $49.02 on Friday. The firm has a market capitalization of $207.88 billion, a price-to-earnings ratio of 25.66, a P/E/G ratio of 3.19 and a beta of 0.60. The Coca-Cola has a 12-month low of $41.45 and a 12-month high of $50.84. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.06 and a quick ratio of 0.98.
Several brokerages recently issued reports on KO. Royal Bank of Canada reissued a “buy” rating and set a $56.00 target price on shares of The Coca-Cola in a report on Monday, November 19th. Citigroup set a $56.00 target price on shares of The Coca-Cola and gave the stock a “buy” rating in a report on Friday, November 9th. Macquarie set a $50.00 price target on shares of The Coca-Cola and gave the company a “neutral” rating in a research report on Thursday, November 8th. Morningstar set a $49.00 price target on shares of The Coca-Cola and gave the company a “neutral” rating in a research report on Tuesday, November 6th. Finally, Jefferies Financial Group raised their price target on shares of The Coca-Cola from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, October 31st. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $51.43.
In related news, insider Jennifer K. Mann sold 15,100 shares of the business’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $50.40, for a total transaction of $761,040.00. Following the transaction, the insider now directly owns 40,058 shares in the company, valued at $2,018,923.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Larry M. Mark sold 75,538 shares of the business’s stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $49.51, for a total transaction of $3,739,886.38. Following the transaction, the vice president now owns 85,755 shares in the company, valued at $4,245,730.05. The disclosure for this sale can be found here. Insiders have sold 374,542 shares of company stock worth $18,436,957 over the last 90 days. 1.48% of the stock is currently owned by company insiders.
About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plantbased beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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