Coca-Cola (NYSE:KO) Trading Up 0.6% – Time to Buy?

The Coca-Cola Company (NYSE:KO) traded up 0.6% during mid-day trading on Monday . The company traded as high as $64.71 and last traded at $64.30. Approximately 2,747,157 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 13,411,657 shares. The stock had previously closed at $63.92.

Wall Street Analyst Weigh In

KO has been the subject of several research reports. Truist Financial increased their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company increased their price target on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Cfra restated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Barclays decreased their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $72.36.

Coca-Cola Stock Down 0.2 %

The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The company’s fifty day moving average price is $67.34 and its 200-day moving average price is $66.57. The stock has a market cap of $277.55 billion, a P/E ratio of 26.62, a price-to-earnings-growth ratio of 3.91 and a beta of 0.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter last year, the firm earned $0.74 earnings per share. The firm’s quarterly revenue was down .8% compared to the same quarter last year. Equities analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is currently 80.17%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.97% of the stock is currently owned by corporate insiders.

Institutional Trading of Coca-Cola

Several institutional investors and hedge funds have recently modified their holdings of the stock. New Millennium Group LLC purchased a new position in Coca-Cola during the 2nd quarter valued at about $26,000. Quarry LP bought a new position in shares of Coca-Cola during the second quarter valued at approximately $27,000. Hara Capital LLC purchased a new position in Coca-Cola during the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Coca-Cola in the third quarter worth approximately $36,000. Finally, Mount Lucas Management LP purchased a new stake in Coca-Cola during the second quarter worth $38,000. Institutional investors own 70.26% of the company’s stock.

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.