The Coca-Cola Co (NYSE:KO) Short Interest Up 14.2% in July

The Coca-Cola Co (NYSE:KO) was the target of a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 32,337,400 shares, an increase of 14.2% from the June 30th total of 28,318,700 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average daily trading volume, of 12,590,000 shares, the short-interest ratio is currently 2.6 days.

KO traded up $0.30 during midday trading on Tuesday, hitting $53.50. 8,385,560 shares of the company traded hands, compared to its average volume of 13,998,860. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.83 and a quick ratio of 0.71. The stock has a market cap of $228.43 billion, a P/E ratio of 25.72, a price-to-earnings-growth ratio of 3.71 and a beta of 0.48. The Coca-Cola has a 52-week low of $44.25 and a 52-week high of $54.82. The stock’s 50 day moving average price is $52.39.

The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The business had revenue of $10 billion for the quarter, compared to the consensus estimate of $9.86 billion. The Coca-Cola had a net margin of 21.11% and a return on equity of 45.67%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $0.61 earnings per share. Equities analysts expect that The Coca-Cola will post 2.1 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Friday, September 13th. The Coca-Cola’s payout ratio is 76.92%.

KO has been the topic of several analyst reports. Morgan Stanley restated a “buy” rating and set a $60.00 price target on shares of The Coca-Cola in a research report on Wednesday, July 31st. Credit Suisse Group raised their price target on shares of The Coca-Cola from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. SunTrust Banks raised their price target on shares of The Coca-Cola to $60.00 and gave the company a “positive” rating in a research report on Wednesday, July 24th. BMO Capital Markets raised their price target on shares of The Coca-Cola from $48.00 to $52.00 and gave the company a “market perform” rating in a research report on Wednesday, July 24th. Finally, ValuEngine upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $53.86.

In other news, SVP Robert Edward Long sold 30,412 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $49.97, for a total value of $1,519,687.64. Following the sale, the senior vice president now owns 57,538 shares in the company, valued at $2,875,173.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James L. Dinkins sold 45,875 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $53.26, for a total transaction of $2,443,302.50. Following the completion of the sale, the insider now owns 95,101 shares in the company, valued at approximately $5,065,079.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 345,855 shares of company stock valued at $17,516,258. Corporate insiders own 1.33% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Krane Funds Advisors LLC purchased a new position in The Coca-Cola during the second quarter worth about $25,000. LFA Lugano Financial Advisors SA raised its stake in The Coca-Cola by 348.8% during the second quarter. LFA Lugano Financial Advisors SA now owns 552 shares of the company’s stock worth $28,000 after purchasing an additional 429 shares during the period. Prime Capital Investment Advisors LLC purchased a new position in The Coca-Cola during the first quarter worth about $28,000. Redhawk Wealth Advisors Inc. purchased a new position in The Coca-Cola during the second quarter worth about $36,000. Finally, Orrstown Financial Services Inc. raised its stake in The Coca-Cola by 230.8% during the first quarter. Orrstown Financial Services Inc. now owns 741 shares of the company’s stock worth $35,000 after purchasing an additional 517 shares during the period. 66.69% of the stock is currently owned by institutional investors and hedge funds.

About The Coca-Cola

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; 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.

See Also: Short Selling

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