Coca-Cola (NYSE:KO) Shares Up 3.3% – Should You Buy?

The Coca-Cola Company (NYSE:KO)’s share price traded up 3.3% on Thursday . The stock traded as high as $73.86 and last traded at $73.70. 8,687,289 shares were traded during mid-day trading, a decline of 42% from the average session volume of 14,926,409 shares. The stock had previously closed at $71.33.

Wall Street Analyst Weigh In

Several brokerages have recently commented on KO. UBS Group raised their target price on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Piper Sandler upped their price target on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. TD Cowen 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 report on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, DZ Bank upgraded 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 report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and an average target price of $74.24.

Coca-Cola Trading Up 2.6 %

The company has a market capitalization of $314.91 billion, a P/E ratio of 29.63, a P/E/G ratio of 3.79 and a beta of 0.57. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The firm’s 50-day moving average price is $68.33 and its 200 day moving average price is $66.42.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating 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%. As a group, equities research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.51 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 2.79%. Coca-Cola’s payout ratio is 82.59%.

Insiders Place Their Bets

In related news, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total transaction of $961,317.50. Following the sale, the executive vice president now directly owns 94,676 shares in the company, valued at $6,769,334. The trade was a 12.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 313,423 shares of company stock valued at $22,263,071 over the last quarter. 0.97% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Coca-Cola

Several hedge funds and other institutional investors have recently modified their holdings of the company. Versant Capital Management Inc lifted its stake in shares of Coca-Cola by 31.6% during the 1st quarter. Versant Capital Management Inc now owns 11,408 shares of the company’s stock valued at $817,000 after buying an additional 2,737 shares in the last quarter. Hiley Hunt Wealth Management purchased a new stake in Coca-Cola during the first quarter valued at approximately $223,000. First Hawaiian Bank raised its holdings in Coca-Cola by 147.0% during the 1st quarter. First Hawaiian Bank now owns 12,536 shares of the company’s stock valued at $898,000 after buying an additional 7,461 shares during the period. Insight Wealth Strategies LLC purchased a new stake in shares of Coca-Cola in the first quarter valued at $207,000. Finally, Waller Financial Planning Group Inc. lifted its stake in Coca-Cola by 6.1% in the first quarter. Waller Financial Planning Group Inc. now owns 3,460 shares of the company’s stock worth $248,000 after purchasing an additional 200 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

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.