Coca-Cola (NYSE:KO) Trading 0.1% Higher

Shares of The Coca-Cola Company (NYSE:KO) traded up 0.1% on Friday . The stock traded as high as $64.06 and last traded at $63.97. 1,722,458 shares changed hands during trading, a decline of 87% from the average session volume of 12,997,706 shares. The stock had previously closed at $63.91.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. BNP Paribas assumed coverage on shares of Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective for the company. Barclays raised their price objective on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Argus raised their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Evercore ISI raised their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Finally, UBS Group raised their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.83.

Coca-Cola Stock Performance

The stock has a market capitalization of $274.20 billion, a P/E ratio of 25.46, a P/E/G ratio of 3.61 and a beta of 0.59. The company’s 50-day moving average is $62.72 and its two-hundred day moving average is $60.78. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. The firm had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. Coca-Cola’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.68 EPS. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.05%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Insiders Place Their Bets

In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the sale, the insider now directly owns 218,880 shares in the company, valued at approximately $13,644,979.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the sale, the insider now directly owns 218,880 shares in the company, valued at approximately $13,644,979.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,168,055.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 223,665 shares of company stock worth $13,995,465. 0.97% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Coca-Cola

Hedge funds have recently made changes to their positions in the business. Caxton Associates LP increased its position in shares of Coca-Cola by 85.6% in the third quarter. Caxton Associates LP now owns 6,945 shares of the company’s stock worth $389,000 after acquiring an additional 3,203 shares in the last quarter. Hodges Capital Management Inc. purchased a new position in shares of Coca-Cola in the third quarter worth approximately $1,342,000. Alberta Investment Management Corp increased its position in shares of Coca-Cola by 50.2% in the third quarter. Alberta Investment Management Corp now owns 210,400 shares of the company’s stock worth $11,778,000 after acquiring an additional 70,300 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Coca-Cola by 10.6% in the third quarter. Advisors Asset Management Inc. now owns 258,857 shares of the company’s stock worth $14,491,000 after acquiring an additional 24,772 shares in the last quarter. Finally, Axxcess Wealth Management LLC increased its position in shares of Coca-Cola by 220.1% in the third quarter. Axxcess Wealth Management LLC now owns 134,447 shares of the company’s stock worth $7,526,000 after acquiring an additional 92,440 shares in the last quarter. 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.