Coca-Cola (NYSE:KO) Stock Price Down 0.1% After Insider Selling

The Coca-Cola Company (NYSE:KO)’s share price fell 0.1% during trading on Friday following insider selling activity. The company traded as low as $69.18 and last traded at $69.25. 1,550,836 shares traded hands during trading, a decline of 88% from the average session volume of 12,927,257 shares. The stock had previously closed at $69.33.

Specifically, CEO James Quincey sold 102,533 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lisa Chang sold 40,334 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the transaction, the executive vice president now owns 74,067 shares in the company, valued at $5,150,619.18. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KO. Evercore ISI raised their price objective on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. raised their price target on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Royal Bank of Canada boosted their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Morgan Stanley raised their target price on Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Finally, BNP Paribas initiated coverage on Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $70.20.

Coca-Cola Trading Up 0.6 %

The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The firm’s 50-day simple moving average is $65.74 and its 200 day simple moving average is $62.69. The firm has a market cap of $300.57 billion, a P/E ratio of 27.91, a price-to-earnings-growth ratio of 3.80 and a beta of 0.59.

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

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.78%. Coca-Cola’s dividend payout ratio is presently 77.60%.

Hedge Funds Weigh In On Coca-Cola

Several large investors have recently modified their holdings of KO. Norges Bank purchased a new stake in Coca-Cola during the 4th quarter worth about $2,808,056,000. Price T Rowe Associates Inc. MD increased its position in shares of Coca-Cola by 21.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after buying an additional 8,733,326 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Coca-Cola by 11,138.6% in the fourth quarter. Fisher Asset Management LLC now owns 4,977,819 shares of the company’s stock worth $293,343,000 after buying an additional 4,933,527 shares in the last quarter. Pathstone Holdings LLC bought a new position in shares of Coca-Cola in the fourth quarter valued at approximately $193,342,000. Finally, Putnam Investments LLC grew its stake in Coca-Cola by 32.8% during the fourth quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock valued at $709,051,000 after acquiring an additional 2,973,234 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

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.