Coca-Cola Co (The) (NYSE:KO) Director David B. Weinberg sold 200,000 shares of Coca-Cola stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $48.02, for a total value of $9,604,000.00. Following the sale, the director now directly owns 355,214 shares in the company, valued at $17,057,376.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
KO stock traded down $0.48 during midday trading on Thursday, hitting $47.54. 1,017,108 shares of the stock traded hands, compared to its average volume of 16,171,021. Coca-Cola Co has a 1-year low of $36.27 and a 1-year high of $60.13. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.09 and a quick ratio of 0.96. The stock’s fifty day simple moving average is $46.02 and its 200-day simple moving average is $49.41. The firm has a market cap of $204.46 billion, a P/E ratio of 22.65, a PEG ratio of 5.57 and a beta of 0.54.
Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 21st. The company reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. Coca-Cola had a return on equity of 41.44% and a net margin of 26.77%. The firm had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $7.26 billion. During the same period last year, the firm earned $0.63 EPS. The company’s quarterly revenue was down 28.0% on a year-over-year basis. On average, research analysts predict that Coca-Cola Co will post 1.8 earnings per share for the current year.
KO has been the subject of a number of recent research reports. Citigroup lowered their price target on shares of Coca-Cola from $63.00 to $51.00 and set a “neutral” rating for the company in a research report on Wednesday, April 22nd. Royal Bank of Canada reduced their price objective on Coca-Cola from $57.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, April 22nd. Jefferies Financial Group reduced their price target on shares of Coca-Cola from $48.00 to $47.00 and set a “hold” rating for the company in a research report on Wednesday, April 22nd. Barclays restated a “buy” rating and issued a $50.00 price objective on shares of Coca-Cola in a research note on Thursday, April 23rd. Finally, Bank of America reiterated a “buy” rating and issued a $53.00 price target on shares of Coca-Cola in a research note on Friday, July 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $54.05.
Several institutional investors have recently bought and sold shares of KO. Verus Capital Partners LLC acquired a new stake in Coca-Cola in the 4th quarter valued at $279,000. Macquarie Group Ltd. lifted its holdings in Coca-Cola by 26.9% during the fourth quarter. Macquarie Group Ltd. now owns 97,305 shares of the company’s stock valued at $5,385,000 after purchasing an additional 20,620 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Coca-Cola by 5.2% in the fourth quarter. Franklin Resources Inc. now owns 6,357,839 shares of the company’s stock valued at $351,906,000 after purchasing an additional 315,544 shares during the period. HighMark Wealth Management LLC purchased a new stake in shares of Coca-Cola during the fourth quarter worth about $44,000. Finally, Cox Capital Mgt LLC purchased a new stake in shares of Coca-Cola during the first quarter worth about $77,000. Institutional investors and hedge funds own 67.40% of the company’s stock.
Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based 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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