Insider Selling: The Coca-Cola Company (NYSE:KO) CEO Sells 266,403 Shares of Stock

The Coca-Cola Company (NYSE:KO) CEO James Quincey sold 266,403 shares of the business’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the sale, the chief executive officer now directly owns 275,946 shares in the company, valued at $19,884,668.76. The trade was a 49.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Coca-Cola Trading Up 0.3%

Coca-Cola stock opened at $71.39 on Thursday. The Coca-Cola Company has a one year low of $60.62 and a one year high of $74.38. The business’s fifty day moving average is $71.41 and its 200 day moving average is $67.45. The stock has a market capitalization of $307.28 billion, a PE ratio of 28.90, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The business had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.23 billion. During the same quarter in the prior year, the business earned $0.72 EPS. The business’s revenue for the quarter was down .7% compared to the same quarter last year. On average, sell-side analysts predict that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s dividend payout ratio is currently 81.60%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. raised their price objective on Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Morgan Stanley lifted their price objective on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Barclays reissued an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. Finally, Wells Fargo & Company lifted their price target on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Coca-Cola presently has a consensus rating of “Buy” and an average target price of $75.81.

Institutional Investors Weigh In On Coca-Cola

A number of large investors have recently added to or reduced their stakes in KO. MorganRosel Wealth Management LLC bought a new stake in shares of Coca-Cola in the first quarter worth $25,000. Crowley Wealth Management Inc. bought a new stake in shares of Coca-Cola during the 4th quarter valued at about $27,000. Garde Capital Inc. purchased a new stake in shares of Coca-Cola during the 1st quarter valued at about $30,000. Mainstream Capital Management LLC purchased a new stake in shares of Coca-Cola during the 4th quarter valued at about $31,000. Finally, Mizuho Securities Co. Ltd. lifted its stake in shares of Coca-Cola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after purchasing an additional 360 shares during the period. Institutional investors own 70.26% of the company’s stock.

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.