Coca-Cola (NYSE:KO) Shares Up 0.2% – Still a Buy?

The Coca-Cola Company (NYSE:KO) shot up 0.2% on Tuesday . The stock traded as high as $72.09 and last traded at $72.06. 2,294,736 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 15,606,414 shares. The stock had previously closed at $71.93.

Analysts Set New Price Targets

A number of research firms have weighed in on KO. UBS Group upped their price target on Coca-Cola from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Thursday, February 13th. Barclays reaffirmed an “overweight” rating on shares of Coca-Cola in a report on Thursday, March 27th. Royal Bank of Canada lifted their price objective on Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Finally, Piper Sandler raised their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $75.59.

Coca-Cola Price Performance

The firm has a market cap of $308.12 billion, a price-to-earnings ratio of 28.98, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The company’s 50-day moving average is $70.92 and its 200-day moving average is $66.83.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The company had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter last year, the business posted $0.72 EPS. Coca-Cola’s revenue for the quarter was down .7% on a year-over-year basis. Equities research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.85%. Coca-Cola’s dividend payout ratio is presently 81.60%.

Insiders Place Their Bets

In other news, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the sale, the executive vice president now owns 187,716 shares of the company’s stock, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nikolaos Koumettis sold 54,708 shares of Coca-Cola stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total value of $3,882,079.68. Following the completion of the transaction, the insider now directly owns 246,909 shares in the company, valued at approximately $17,520,662.64. This represents a 18.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 462,407 shares of company stock valued at $32,990,056 in the last ninety days. 0.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Coca-Cola

Several hedge funds and other institutional investors have recently bought and sold shares of the company. MorganRosel Wealth Management LLC bought a new position in Coca-Cola in the 1st quarter valued at $25,000. Crowley Wealth Management Inc. bought a new stake in Coca-Cola in the fourth quarter worth about $27,000. Garde Capital Inc. purchased a new position in Coca-Cola in the first quarter valued at approximately $30,000. Mainstream Capital Management LLC purchased a new stake in Coca-Cola in the 4th quarter worth about $31,000. Finally, Mizuho Securities Co. Ltd. lifted its position in shares of Coca-Cola by 360.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock worth $33,000 after acquiring an additional 360 shares in the last quarter. Institutional investors and hedge funds 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.