Coca-Cola (NYSE:KO) Trading Down 0.6% – Here’s Why

The Coca-Cola Company (NYSE:KO)’s share price traded down 0.6% during mid-day trading on Thursday . The stock traded as low as $62.47 and last traded at $62.63. 4,169,164 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 13,251,331 shares. The stock had previously closed at $63.00.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on KO. TD Cowen upped their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Citigroup raised their price target on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Barclays reduced their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $72.36.

Coca-Cola Stock Down 1.3 %

The company has a market capitalization of $265.92 billion, a price-to-earnings ratio of 25.51, a P/E/G ratio of 3.83 and a beta of 0.61. The business’s 50-day moving average is $68.63 and its 200-day moving average is $66.48. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same period last year, the company earned $0.74 earnings per share. Coca-Cola’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, equities analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Lisa Chang sold 40,334 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. This trade represents a 35.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. This trade represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 303,748 shares of company stock valued at $20,677,431. Corporate insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. New Millennium Group LLC purchased a new stake in shares of Coca-Cola during the second quarter worth $26,000. Quarry LP purchased a new stake in Coca-Cola during the 2nd quarter valued at about $27,000. ESL Trust Services LLC acquired a new stake in Coca-Cola in the 1st quarter valued at about $28,000. Hara Capital LLC purchased a new position in Coca-Cola in the 3rd quarter worth approximately $35,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Coca-Cola during the 3rd quarter worth approximately $36,000. 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.