Short Interest in The Coca-Cola Co (KO) Declines By 12.1%
The Coca-Cola Co (NYSE:KO) was the target of a large decline in short interest in November. As of November 30th, there was short interest totalling 25,867,295 shares, a decline of 12.1% from the November 15th total of 29,434,393 shares. Based on an average daily trading volume, of 12,083,113 shares, the short-interest ratio is presently 2.1 days. Approximately 0.6% of the shares of the stock are sold short.
In related news, insider J Alexander Douglas, Jr. sold 338,009 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $46.09, for a total value of $15,578,834.81. Following the sale, the insider now directly owns 320,013 shares in the company, valued at approximately $14,749,399.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.51% of the stock is owned by insiders.
Several large investors have recently modified their holdings of KO. Signature Estate & Investment Advisors LLC grew its holdings in shares of The Coca-Cola by 5.0% during the 1st quarter. Signature Estate & Investment Advisors LLC now owns 2,725 shares of the company’s stock worth $116,000 after purchasing an additional 129 shares during the period. Meeder Asset Management Inc. boosted its holdings in The Coca-Cola by 59.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 2,754 shares of the company’s stock worth $124,000 after acquiring an additional 1,026 shares during the period. Veritas Investment Management LLP purchased a new position in The Coca-Cola in the 3rd quarter worth approximately $135,000. Spectrum Management Group Inc. purchased a new position in The Coca-Cola in the 3rd quarter worth approximately $137,000. Finally, Eagle Ridge Investment Management purchased a new position in The Coca-Cola in the 2nd quarter worth approximately $138,000. Institutional investors and hedge funds own 65.30% of the company’s stock.
The Coca-Cola (NYSE KO) opened at $46.08 on Thursday. The Coca-Cola has a one year low of $40.22 and a one year high of $47.48. The company has a current ratio of 1.39, a quick ratio of 1.30 and a debt-to-equity ratio of 1.47. The company has a market cap of $195,692.44, a PE ratio of 24.30, a PEG ratio of 3.93 and a beta of 0.70.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 25th. The company reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. The Coca-Cola had a net margin of 12.20% and a return on equity of 36.21%. The company had revenue of $9.08 billion during the quarter, compared to the consensus estimate of $8.73 billion. During the same quarter in the prior year, the company posted $0.49 EPS. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. sell-side analysts forecast that The Coca-Cola will post 1.91 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend was Thursday, November 30th. The Coca-Cola’s dividend payout ratio is currently 140.95%.
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The Coca-Cola Company Profile
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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