Coca-Cola (NYSE:KO) Stock Price Down 0.2% – What’s Next?

Shares of The Coca-Cola Company (NYSE:KO) dropped 0.2% during mid-day trading on Thursday . The stock traded as low as $64.25 and last traded at $64.43. Approximately 13,263,403 shares changed hands during mid-day trading, a decline of 2% from the average daily volume of 13,563,657 shares. The stock had previously closed at $64.55.

Analysts Set New Price Targets

KO has been the topic of a number of recent analyst reports. Barclays dropped their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Morgan Stanley cut their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Wells Fargo & Company increased their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Truist Financial increased their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $72.36.

Coca-Cola Trading Down 0.2 %

The firm has a 50-day simple moving average of $67.34 and a 200-day simple moving average of $66.57. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The stock has a market cap of $277.55 billion, a PE ratio of 26.62, a P/E/G ratio of 3.91 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.74 EPS. Equities analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.01%. Coca-Cola’s dividend payout ratio (DPR) is currently 80.17%.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.97% of the stock is currently owned by insiders.

Institutional Trading of Coca-Cola

Institutional investors and hedge funds have recently modified their holdings of the business. New Millennium Group LLC bought a new stake in Coca-Cola during the second quarter valued at approximately $26,000. Quarry LP bought a new stake in shares of Coca-Cola during the 2nd quarter worth $27,000. Hara Capital LLC purchased a new position in Coca-Cola in the third quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Coca-Cola in the third quarter valued at $36,000. Finally, Mount Lucas Management LP purchased a new stake in Coca-Cola during the second quarter valued at about $38,000. Hedge funds and other institutional investors 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.