Coca-Cola (NYSE:KO) Trading 0.9% Higher – Still a Buy?

The Coca-Cola Company (NYSE:KO)’s share price shot up 0.9% during trading on Thursday . The stock traded as high as $70.93 and last traded at $70.65. 2,695,995 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 14,022,825 shares. The stock had previously closed at $70.02.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on KO shares. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 target price on shares of Coca-Cola in a report on Thursday, February 6th. Evercore ISI boosted their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Morgan Stanley increased their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company boosted their target price on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.24.

Coca-Cola Trading Down 0.5 %

The stock has a market cap of $302.80 billion, a PE ratio of 28.49, a PEG ratio of 3.79 and a beta of 0.57. The stock’s fifty day moving average price is $67.77 and its 200 day moving average price is $66.45. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is presently 82.59%.

Insider Transactions at Coca-Cola

In other news, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Henrique Braun sold 25,277 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the sale, the chief operating officer now owns 52,466 shares of the company’s stock, valued at approximately $3,749,745.02. This trade represents a 32.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 313,423 shares of company stock worth $22,263,071 over the last three months. 0.97% of the stock is currently owned by company insiders.

Institutional Trading of Coca-Cola

Several large investors have recently added to or reduced their stakes in KO. Crowley Wealth Management Inc. bought a new stake in shares of Coca-Cola during the 4th quarter valued at $27,000. Mainstream Capital Management LLC bought a new stake in Coca-Cola during the fourth quarter valued at about $31,000. REAP Financial Group LLC increased its position in Coca-Cola by 57.5% in the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after buying an additional 208 shares in the last quarter. Retirement Wealth Solutions LLC bought a new position in shares of Coca-Cola in the fourth quarter worth about $37,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in shares of Coca-Cola in the fourth quarter worth about $38,000. 70.26% of the stock is currently owned by institutional investors.

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.