Coca-Cola (NYSE:KO) Stock Price Up 0.5%

The Coca-Cola Company (NYSE:KO)’s stock price shot up 0.5% during mid-day trading on Thursday . The stock traded as high as $58.85 and last traded at $58.78. 2,143,370 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 13,658,931 shares. The stock had previously closed at $58.51.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Barclays lifted their price objective on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Citigroup boosted their price target on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. decreased their target price on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Friday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $67.09.

Coca-Cola Price Performance

The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29. The stock has a market cap of $259.40 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 3.37 and a beta of 0.59. The company has a 50 day simple moving average of $59.94 and a 200-day simple moving average of $58.56.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The business had revenue of $10.80 billion during the quarter, compared to the consensus estimate of $10.68 billion. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.45 EPS. As a group, research analysts anticipate that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.22%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is 78.23%.

Insider Activity

In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total value of $1,102,114.91. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Beatriz R. Perez sold 52,300 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the completion of the sale, the executive vice president now directly owns 143,383 shares of the company’s stock, valued at $8,602,980. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The disclosure for this sale can be found here. Insiders sold a total of 375,407 shares of company stock worth $22,795,742 over the last 90 days. 0.97% of the stock is currently owned by company insiders.

Institutional Trading of Coca-Cola

A number of hedge funds have recently bought and sold shares of KO. Maryland State Retirement & Pension System raised its holdings in shares of Coca-Cola by 0.7% during the first quarter. Maryland State Retirement & Pension System now owns 305,216 shares of the company’s stock valued at $17,783,000 after acquiring an additional 1,991 shares during the period. Cohen Investment Advisors LLC grew its stake in Coca-Cola by 15.5% in the first quarter. Cohen Investment Advisors LLC now owns 34,242 shares of the company’s stock valued at $2,095,000 after purchasing an additional 4,594 shares in the last quarter. Marshall Financial Group LLC increased its position in Coca-Cola by 6.9% in the 1st quarter. Marshall Financial Group LLC now owns 9,127 shares of the company’s stock worth $558,000 after purchasing an additional 591 shares during the last quarter. American National Bank & Trust Co. VA acquired a new stake in Coca-Cola in the first quarter valued at approximately $1,822,000. Finally, Retirement Guys Formula LLC raised its position in shares of Coca-Cola by 22.5% in the first quarter. Retirement Guys Formula LLC now owns 12,612 shares of the company’s stock valued at $772,000 after purchasing an additional 2,317 shares during the period. 70.26% of the stock is owned by hedge funds and other 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.