Coca-Cola (NYSE:KO) Stock Price Down 0.7% – What’s Next?

The Coca-Cola Company (NYSE:KO)’s stock price was down 0.7% during mid-day trading on Thursday . The company traded as low as $69.57 and last traded at $69.59. Approximately 2,263,675 shares traded hands during trading, a decline of 86% from the average daily volume of 16,364,490 shares. The stock had previously closed at $70.07.

Analyst Ratings Changes

Several brokerages have commented on KO. Morgan Stanley raised their target price on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Evercore ISI raised their price objective 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. DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Thursday, February 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 target price on shares of Coca-Cola in a research note on Thursday, February 6th. Finally, UBS Group boosted their price target on shares of Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.82.

Coca-Cola Stock Up 1.9 %

The company has a market cap of $307.46 billion, a P/E ratio of 28.90, a P/E/G ratio of 3.79 and a beta of 0.61. The stock has a 50-day moving average of $63.71 and a two-hundred day moving average of $66.44. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping 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, research analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.86%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s dividend payout ratio is presently 78.54%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Harvest Portfolios Group Inc. bought a new stake in Coca-Cola in the third quarter valued at approximately $18,383,000. Balentine LLC raised its holdings in Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after buying an additional 13,685 shares during the last quarter. Rice Partnership LLC boosted its position in Coca-Cola by 7.1% during the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock valued at $6,397,000 after buying an additional 6,793 shares during the period. Sheaff Brock Investment Advisors LLC grew its holdings in Coca-Cola by 104.9% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after acquiring an additional 59,503 shares during the last quarter. Finally, Fiduciary Alliance LLC grew its holdings in Coca-Cola by 87.7% in the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after acquiring an additional 8,499 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

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.