Coca-Cola (NYSE:KO) Stock Price Up 0% – Still a Buy?

The Coca-Cola Company (NYSE:KO) shot up 0% during mid-day trading on Friday . The stock traded as high as $62.65 and last traded at $62.46. 5,828,271 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 13,949,146 shares. The stock had previously closed at $62.45.

Analyst Upgrades and Downgrades

KO has been the subject of a number of research reports. Barclays lowered their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Wells Fargo & Company reduced their price target on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday, December 2nd. Truist Financial upped 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. Finally, Morgan Stanley reduced their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average price target of $72.50.

Coca-Cola Stock Up 0.2 %

The company has a market cap of $269.45 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 3.81 and a beta of 0.61. The business has a fifty day moving average of $64.76 and a two-hundred day moving average of $66.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

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

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a $0.485 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.10%. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $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 accessible through this hyperlink. Insiders own 0.97% of the company’s stock.

Institutional Trading of Coca-Cola

A number of institutional investors have recently made changes to their positions in the company. Hiley Hunt Wealth Management purchased a new position in Coca-Cola in the 3rd quarter valued at $219,000. Lord Abbett & CO. LLC raised its position in shares of Coca-Cola by 9.4% in the third quarter. Lord Abbett & CO. LLC now owns 2,027,396 shares of the company’s stock valued at $145,689,000 after buying an additional 174,948 shares during the last quarter. Legacy Wealth Management LLC MS lifted its stake in shares of Coca-Cola by 14.6% in the third quarter. Legacy Wealth Management LLC MS now owns 9,627 shares of the company’s stock worth $692,000 after buying an additional 1,227 shares in the last quarter. 1ST Source Bank boosted its position in Coca-Cola by 2.7% during the third quarter. 1ST Source Bank now owns 19,835 shares of the company’s stock worth $1,425,000 after acquiring an additional 524 shares during the last quarter. Finally, DGS Capital Management LLC grew its stake in Coca-Cola by 13.1% during the 3rd quarter. DGS Capital Management LLC now owns 4,856 shares of the company’s stock valued at $349,000 after acquiring an additional 561 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

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.