Coca-Cola (NYSE:KO) Hits New 12-Month High at $64.07

The Coca-Cola Company (NYSE:KOGet Free Report)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $64.07 and last traded at $63.55, with a volume of 802431 shares trading hands. The stock had previously closed at $63.94.

Wall Street Analyst Weigh In

Several brokerages recently commented on KO. JPMorgan Chase & Co. upped their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Evercore ISI upped their target price on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Barclays increased their price target on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Argus increased their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.58.

Read Our Latest Report on KO

Coca-Cola Trading Up 0.3 %

The stock has a market capitalization of $276.31 billion, a PE ratio of 25.66, a P/E/G ratio of 3.61 and a beta of 0.59. The firm has a 50 day moving average price of $61.48 and a 200 day moving average price of $60.24. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26.

Coca-Cola (NYSE:KOGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.70 by $0.02. The firm had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 earnings per share. Equities analysts expect that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s payout ratio is 77.60%.

Insider Activity at Coca-Cola

In related news, EVP Beatriz R. Perez sold 57,298 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the sale, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at $10,358,962.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Beatriz R. Perez sold 57,298 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the sale, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at $10,358,962.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Monica Howard Douglas sold 8,874 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $63.31, for a total value of $561,812.94. Following the sale, the executive vice president now directly owns 33,638 shares of the company’s stock, valued at $2,129,621.78. The disclosure for this sale can be found here. Over the last three months, insiders sold 180,838 shares of company stock valued at $11,220,064. 0.97% of the stock is owned by insiders.

Institutional Trading of Coca-Cola

A number of large investors have recently bought and sold shares of the company. Morgan Stanley boosted its holdings in shares of Coca-Cola by 2.5% in the third quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock worth $4,503,484,000 after acquiring an additional 1,950,146 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Coca-Cola by 21.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after acquiring an additional 8,733,326 shares during the period. Norges Bank bought a new position in shares of Coca-Cola in the fourth quarter worth $2,808,056,000. Northern Trust Corp boosted its holdings in shares of Coca-Cola by 4.8% in the third quarter. Northern Trust Corp now owns 44,913,068 shares of the company’s stock worth $2,514,234,000 after acquiring an additional 2,040,664 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Coca-Cola by 8.2% in the third quarter. Invesco Ltd. now owns 25,845,340 shares of the company’s stock worth $1,446,822,000 after acquiring an additional 1,963,963 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

About Coca-Cola

(Get Free Report)

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.

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