Coca-Cola (NYSE:KO) Shares Down 1.5% – What’s Next?

The Coca-Cola Company (NYSE:KO)’s share price dropped 1.5% on Wednesday . The company traded as low as $62.50 and last traded at $62.55. Approximately 3,656,805 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 13,562,847 shares. The stock had previously closed at $63.52.

Analyst Upgrades and Downgrades

KO has been the topic of a number of research analyst reports. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Wells Fargo & Company reduced their target price on Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday. Truist Financial lifted their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Morgan Stanley reduced their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Barclays reduced their price objective 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. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.14.

Coca-Cola Price Performance

The company has a market capitalization of $271.22 billion, a P/E ratio of 26.00, a price-to-earnings-growth ratio of 3.86 and a beta of 0.61. The company has a fifty day moving average price of $66.40 and a 200 day moving average price of $66.56. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

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

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.08%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Coca-Cola

A number of large investors have recently bought and sold shares of KO. New Millennium Group LLC acquired a new stake in Coca-Cola during the second quarter worth about $26,000. Quarry LP acquired a new stake in shares of Coca-Cola during the 2nd quarter worth approximately $27,000. Hara Capital LLC acquired a new position in shares of Coca-Cola in the third quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola during the third quarter worth $36,000. Finally, Mount Lucas Management LP bought a new stake in Coca-Cola in the 2nd quarter valued at $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.