Coca-Cola (NYSE:KO) Trading 0.5% Higher

The Coca-Cola Company (NYSE:KO) shares rose 0.5% on Thursday . The company traded as high as $58.85 and last traded at $58.78. Approximately 2,143,370 shares changed hands during trading, a decline of 84% from the average daily volume of 13,658,931 shares. The stock had previously closed at $58.51.

Analyst Upgrades and Downgrades

KO has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday. Barclays boosted their price target on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Finally, Citigroup lifted their target price on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.09.

Coca-Cola Stock Up 2.1 %

The stock has a 50-day moving average of $59.94 and a 200 day moving average of $58.56. 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 company has a market cap of $259.40 billion, a P/E ratio of 24.26, a PEG ratio of 3.37 and a beta of 0.59.

Coca-Cola (NYSE:KO) last issued its quarterly 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 company had revenue of $10.80 billion during the quarter, compared to the consensus estimate of $10.68 billion. During the same quarter in the prior year, the firm posted $0.45 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Research analysts anticipate that The Coca-Cola Company will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a dividend of $0.485 per share. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.94 annualized dividend and a yield of 3.22%. Coca-Cola’s payout ratio is presently 78.23%.

Insider Activity

In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at $13,594,097.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 375,407 shares of company stock worth $22,795,742. Corporate insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Coca-Cola

Institutional investors and hedge funds have recently made changes to their positions in the stock. Freedom Wealth Alliance LLC bought a new position in Coca-Cola during the 4th quarter worth approximately $25,000. ZRC Wealth Management LLC raised its stake in 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 buying an additional 320 shares during the last quarter. Tidemark LLC acquired a new position in Coca-Cola in the fourth quarter valued at $26,000. Private Wealth Management Group LLC bought a new stake in Coca-Cola during the fourth quarter valued at $27,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Coca-Cola during the 1st quarter worth about $28,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

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.