Coca-Cola (NYSE:KO) Shares Up 0.5% After Dividend Announcement

The Coca-Cola Company (NYSE:KO) was up 0.5% during trading on Friday following a dividend announcement from the company. The stock traded as high as $70.28 and last traded at $70.28. Approximately 4,693,155 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 13,112,710 shares. The stock had previously closed at $69.90.

The newly announced dividend which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Analyst Ratings Changes

KO has been the subject of a number of recent research reports. TD Cowen raised their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Wells Fargo & Company raised their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Citigroup raised their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, BNP Paribas began coverage on Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 target price for the company. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Coca-Cola Price Performance

The stock’s 50 day simple moving average is $70.70 and its 200-day simple moving average is $65.76. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The company has a market capitalization of $303.45 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. During the same period in the prior year, the firm earned $0.78 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Nancy Quan sold 18,482 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,398,603.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Nancy Quan sold 18,482 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 356,792 shares of company stock worth $24,728,364. Corporate insiders own 0.97% of the company’s stock.

Institutional Trading of Coca-Cola

A number of institutional investors have recently bought and sold shares of KO. New Millennium Group LLC purchased a new stake in Coca-Cola during the second quarter worth approximately $26,000. Quarry LP acquired a new stake in Coca-Cola during the second quarter worth approximately $27,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Coca-Cola during the 1st quarter worth approximately $28,000. ESL Trust Services LLC acquired a new position in shares of Coca-Cola in the 1st quarter valued at $28,000. Finally, DiNuzzo Private Wealth Inc. grew its position in shares of Coca-Cola by 65.0% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after buying an additional 206 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

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.