The Coca-Cola Co (NYSE:KO) insider Brian John Smith sold 43,000 shares of the firm’s stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $48.00, for a total transaction of $2,064,000.00. Following the completion of the sale, the insider now owns 123,908 shares of the company’s stock, valued at approximately $5,947,584. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
KO traded up $0.26 on Friday, reaching $48.00. 16,993,163 shares of the company traded hands, compared to its average volume of 14,949,299. The Coca-Cola Co has a one year low of $41.45 and a one year high of $48.62. The firm has a market capitalization of $204.25 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 3.01 and a beta of 0.59. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.06 and a quick ratio of 1.06.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, October 30th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The Coca-Cola had a net margin of 8.70% and a return on equity of 43.12%. The company had revenue of $8.25 billion during the quarter, compared to analyst estimates of $8.20 billion. During the same quarter last year, the business posted $0.50 EPS. The firm’s revenue for the quarter was down 9.2% on a year-over-year basis. On average, equities analysts anticipate that The Coca-Cola Co will post 2.08 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be issued a dividend of $0.39 per share. The ex-dividend date is Thursday, November 29th. This represents a $1.56 dividend on an annualized basis and a yield of 3.25%. The Coca-Cola’s payout ratio is 81.68%.
Several equities research analysts have recently issued reports on the stock. HSBC set a $61.00 target price on shares of The Coca-Cola and gave the stock a “buy” rating in a report on Thursday, September 27th. Jefferies Financial Group set a $48.00 target price on shares of The Coca-Cola and gave the stock a “neutral” rating in a report on Thursday, September 6th. Morgan Stanley set a $49.00 target price on shares of The Coca-Cola and gave the stock a “neutral” rating in a report on Wednesday, September 26th. Guggenheim assumed coverage on shares of The Coca-Cola in a report on Thursday, September 13th. They issued a “buy” rating and a $51.00 target price for the company. Finally, Bank of America restated a “buy” rating and issued a $52.00 target price on shares of The Coca-Cola in a report on Tuesday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the stock. The Coca-Cola has a consensus rating of “Hold” and an average target price of $51.22.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Morgan Stanley increased its position in The Coca-Cola by 3.6% during the 2nd quarter. Morgan Stanley now owns 38,959,393 shares of the company’s stock valued at $1,708,760,000 after purchasing an additional 1,336,852 shares during the period. Janus Henderson Group PLC increased its position in The Coca-Cola by 1.9% during the 2nd quarter. Janus Henderson Group PLC now owns 15,923,120 shares of the company’s stock valued at $698,396,000 after purchasing an additional 299,933 shares during the period. Swiss National Bank increased its position in The Coca-Cola by 2.8% during the 2nd quarter. Swiss National Bank now owns 15,439,790 shares of the company’s stock valued at $677,189,000 after purchasing an additional 425,900 shares during the period. Schwab Charles Investment Management Inc. increased its position in The Coca-Cola by 2.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 14,397,678 shares of the company’s stock valued at $631,483,000 after purchasing an additional 401,752 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in The Coca-Cola by 7.8% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 13,119,142 shares of the company’s stock valued at $575,406,000 after purchasing an additional 949,483 shares during the period. Institutional investors own 65.44% of the company’s stock.
The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plant?based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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