Coca-Cola (NYSE:KO) Shares Up 0.3% Following Analyst Upgrade

The Coca-Cola Company (NYSE:KO) rose 0.3% during trading on Thursday after Barclays raised their price target on the stock from $68.00 to $69.00. Barclays currently has an overweight rating on the stock. Coca-Cola traded as high as $62.31 and last traded at $62.09. Approximately 1,957,099 shares changed hands during trading, a decline of 86% from the average daily volume of 13,937,902 shares. The stock had previously closed at $61.93.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. increased their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday. Citigroup upped their price target on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. UBS Group upped their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Evercore ISI upped their price target on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.27.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $13,594,097.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. Insiders have sold a total of 323,107 shares of company stock worth $19,657,742 over the last quarter. Company insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Coca-Cola

A number of institutional investors have recently added to or reduced their stakes in the stock. Enterprise Bank & Trust Co lifted its position in Coca-Cola by 3.4% in the fourth quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock worth $296,000 after buying an additional 167 shares during the last quarter. Community Bank & Trust Waco Texas grew its holdings in Coca-Cola by 0.6% during the 1st quarter. Community Bank & Trust Waco Texas now owns 30,262 shares of the company’s stock valued at $1,851,000 after purchasing an additional 168 shares during the last quarter. Goelzer Investment Management Inc. raised its position in Coca-Cola by 1.8% in the 4th quarter. Goelzer Investment Management Inc. now owns 9,681 shares of the company’s stock worth $571,000 after purchasing an additional 169 shares during the period. Elk River Wealth Management LLC boosted its position in shares of Coca-Cola by 1.6% during the fourth quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock valued at $639,000 after buying an additional 170 shares during the period. Finally, KRS Capital Management LLC grew its stake in shares of Coca-Cola by 3.8% during the fourth quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock valued at $274,000 after buying an additional 170 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

The firm has a fifty day moving average price of $60.22 and a two-hundred day moving average price of $59.06. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.95. The stock has a market capitalization of $268.05 billion, a PE ratio of 24.87, a P/E/G ratio of 3.54 and a beta of 0.57.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. The company had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.68 EPS. Research analysts expect that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s dividend payout ratio is presently 77.60%.

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.