Coca-Cola (NYSE:KO) Trading 0.3% Higher Following Analyst Upgrade

The Coca-Cola Company (NYSE:KO)’s stock price rose 0.3% during trading on Thursday after StockNews.com upgraded the stock from a hold rating to a buy rating. The company traded as high as $63.21 and last traded at $63.02. Approximately 1,753,573 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 12,908,909 shares. The stock had previously closed at $62.83.

KO has been the topic of several other reports. JPMorgan Chase & Co. lifted their price target on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley raised their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. UBS Group increased their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. BNP Paribas assumed coverage on Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 price target on the stock. Finally, Argus raised their price objective on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $70.00.

Insider Buying and Selling at Coca-Cola

In related news, major shareholder Cola Co Coca sold 598,619 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the sale, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total value of $1,224,645.76. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,168,055.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the transaction, the insider now owns 1,883,546 shares in the company, valued at $1,742,280,050. The disclosure for this sale can be found here. Insiders have sold a total of 822,284 shares of company stock worth $567,718,040 over the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Coca-Cola

Large investors have recently made changes to their positions in the company. Neo Ivy Capital Management bought a new position in Coca-Cola during the third quarter worth about $79,000. Financial Insights Inc. acquired a new position in Coca-Cola during the third quarter valued at approximately $256,000. Raleigh Capital Management Inc. increased its stake in Coca-Cola by 1.2% in the third quarter. Raleigh Capital Management Inc. now owns 27,559 shares of the company’s stock valued at $1,543,000 after purchasing an additional 328 shares in the last quarter. WNY Asset Management LLC raised its holdings in Coca-Cola by 26.8% in the third quarter. WNY Asset Management LLC now owns 10,551 shares of the company’s stock worth $591,000 after purchasing an additional 2,230 shares during the period. Finally, West Paces Advisors Inc. boosted its position in shares of Coca-Cola by 2.1% during the third quarter. West Paces Advisors Inc. now owns 190,080 shares of the company’s stock worth $10,641,000 after purchasing an additional 3,845 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.4 %

The company has a market cap of $271.83 billion, a price-to-earnings ratio of 25.24, a price-to-earnings-growth ratio of 3.56 and a beta of 0.59. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The firm’s fifty day moving average price is $63.01 and its 200-day moving average price is $61.04.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The company had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the prior year, the company earned $0.68 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts predict that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Friday, June 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Coca-Cola Company Profile

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.