CocaCola (NYSE:KO) Stock Price Down 1.6% – What’s Next?

CocaCola Company (The) (NYSE:KO)’s share price dropped 1.6% during trading on Monday . The stock traded as low as $71.93 and last traded at $71.9630. Approximately 14,361,703 shares were traded during trading, a decline of 14% from the average daily volume of 16,759,756 shares. The stock had previously closed at $73.12.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on KO shares. Wells Fargo & Company lifted their price objective on shares of CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Piper Sandler lifted their target price on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. TD Cowen raised their price objective on shares of CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Finally, Cowen reiterated a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $78.43.

CocaCola Stock Down 1.6%

The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. The company has a market capitalization of $309.56 billion, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. The firm’s 50-day simple moving average is $69.03 and its two-hundred day simple moving average is $69.56.

CocaCola (NYSE:KO) last announced its quarterly earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%.The business had revenue of $11.40 billion for the quarter. Sell-side analysts predict that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a $0.51 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.04 annualized dividend and a dividend yield of 2.8%. CocaCola’s payout ratio is currently 67.55%.

Insider Transactions at CocaCola

In other CocaCola news, EVP Nancy Quan sold 31,625 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $71.17, for a total transaction of $2,250,751.25. Following the completion of the transaction, the executive vice president directly owned 223,330 shares in the company, valued at approximately $15,894,396.10. This trade represents a 12.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Henrique Braun sold 40,390 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the completion of the sale, the chief operating officer directly owned 62,621 shares in the company, valued at $4,441,707.53. This trade represents a 39.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 225,252 shares of company stock worth $15,953,007 in the last 90 days. Insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On CocaCola

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of CocaCola by 0.4% during the third quarter. Vanguard Group Inc. now owns 368,885,160 shares of the company’s stock worth $24,464,464,000 after purchasing an additional 1,443,189 shares during the last quarter. State Street Corp grew its holdings in CocaCola by 0.6% in the 3rd quarter. State Street Corp now owns 165,858,003 shares of the company’s stock valued at $11,083,296,000 after buying an additional 923,278 shares during the period. Norges Bank purchased a new stake in CocaCola in the 2nd quarter valued at about $3,846,270,000. Wellington Management Group LLP increased its stake in shares of CocaCola by 52.7% during the 1st quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock valued at $3,398,185,000 after acquiring an additional 16,383,870 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of CocaCola by 15.1% during the 3rd quarter. Franklin Resources Inc. now owns 39,094,276 shares of the company’s stock worth $2,592,732,000 after acquiring an additional 5,135,198 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

CocaCola 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.