Coca-Cola (NYSE:KO) Trading Up 1.9% After Dividend Announcement

The Coca-Cola Company (NYSE:KO)’s share price was up 1.9% during trading on Friday following a dividend announcement from the company. The stock traded as high as $71.52 and last traded at $71.38. Approximately 5,437,726 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 16,319,519 shares. The stock had previously closed at $70.04.

The newly announced dividend which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.86%. The ex-dividend date is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is 78.54%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on KO shares. Piper Sandler dropped their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Wells Fargo & Company raised their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Morgan Stanley raised their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Finally, Evercore ISI raised their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $73.82.

Coca-Cola Trading Up 1.9 %

The stock has a market capitalization of $307.46 billion, a PE ratio of 28.90, a PEG ratio of 3.79 and a beta of 0.61. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The business’s 50-day moving average is $63.71 and its two-hundred day moving average is $66.42.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. On average, analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Coca-Cola

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Harvest Portfolios Group Inc. acquired a new position in Coca-Cola in the third quarter valued at $18,383,000. Balentine LLC increased its stake in Coca-Cola by 92.4% in the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after purchasing an additional 13,685 shares during the period. Rice Partnership LLC increased its stake in Coca-Cola by 7.1% in the fourth quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock valued at $6,397,000 after purchasing an additional 6,793 shares during the period. Sheaff Brock Investment Advisors LLC increased its stake in Coca-Cola by 104.9% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock valued at $8,351,000 after purchasing an additional 59,503 shares during the period. Finally, Fiduciary Alliance LLC increased its stake in Coca-Cola by 87.7% in the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock valued at $1,132,000 after purchasing an additional 8,499 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

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.