Coca-Cola (NYSE:KO) Stock Price Down 0.8% – Should You Sell?

The Coca-Cola Company (NYSE:KO) was down 0.8% during mid-day trading on Thursday . The stock traded as low as $70.21 and last traded at $70.43. Approximately 1,879,730 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 13,240,979 shares. The stock had previously closed at $71.01.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Morgan Stanley boosted their target price on Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. JPMorgan Chase & Co. upped their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Bank of America raised their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Citigroup boosted 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, Barclays raised their price objective on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Five 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $71.07.

Coca-Cola Price Performance

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 has a market capitalization of $302.29 billion, a price-to-earnings ratio of 28.07, a P/E/G ratio of 3.97 and a beta of 0.60. The company has a fifty day moving average price of $70.35 and a two-hundred day moving average price of $65.09.

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

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 2.76%. The ex-dividend date was Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insiders Place Their Bets

In other news, CEO James Quincey sold 102,533 shares of the business’s 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 of the company’s stock, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Bruno Pietracci sold 38,653 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 376,096 shares of company stock valued at $25,982,352. 0.97% of the stock is owned by company insiders.

Hedge Funds Weigh In On Coca-Cola

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

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.