Nancy Quan Sells 31,625 Shares of CocaCola (NYSE:KO) Stock

CocaCola Company (The) (NYSE:KO) EVP Nancy Quan sold 31,625 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $71.17, for a total value of $2,250,751.25. Following the transaction, the executive vice president owned 223,330 shares of the company’s stock, valued at $15,894,396.10. This represents a 12.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

CocaCola Trading Down 0.2%

Shares of KO stock traded down $0.13 during trading hours on Wednesday, reaching $71.09. 8,336,628 shares of the stock were exchanged, compared to its average volume of 16,669,451. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. The company’s 50-day moving average price is $68.14 and its 200-day moving average price is $69.46. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The firm has a market capitalization of $305.79 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO) last issued its earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. The business had revenue of $11.40 billion for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. As a group, equities analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, December 1st. CocaCola’s payout ratio is currently 67.55%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. increased its position in CocaCola by 23.8% in the 3rd quarter. Sunbelt Securities Inc. now owns 107,709 shares of the company’s stock valued at $7,143,000 after acquiring an additional 20,695 shares during the period. Coldstream Capital Management Inc. lifted its position in shares of CocaCola by 0.9% in the third quarter. Coldstream Capital Management Inc. now owns 151,721 shares of the company’s stock valued at $10,066,000 after acquiring an additional 1,421 shares in the last quarter. Aldebaran Financial Inc. lifted its stake in shares of CocaCola by 12.2% during the 3rd quarter. Aldebaran Financial Inc. now owns 12,817 shares of the company’s stock worth $850,000 after purchasing an additional 1,397 shares during the period. Danica Pension Livsforsikringsaktieselskab purchased a new position in CocaCola during the third quarter worth approximately $161,130,000. Finally, Danske Bank A S purchased a new stake in shares of CocaCola during the 3rd quarter worth about $226,443,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the topic of several analyst reports. UBS Group cut their price target on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. Cowen reaffirmed a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. Bank of America boosted their price objective on CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Barclays reiterated an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. Finally, Piper Sandler upped their price target on CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the company. Based on data from MarketBeat.com, CocaCola has a consensus rating of “Buy” and a consensus price target of $78.43.

About CocaCola

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.