Coca-Cola (NYSE:KO) Stock Price Down 1% – Time to Sell?

Shares of The Coca-Cola Company (NYSE:KO) were down 1% during mid-day trading on Wednesday . The stock traded as low as $67.28 and last traded at $67.75. Approximately 5,213,200 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 15,149,060 shares. The stock had previously closed at $68.42.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. lowered their target price 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. Piper Sandler increased their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Wells Fargo & Company lifted their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, Barclays reissued an “overweight” rating on shares of Coca-Cola in a research report on Thursday, March 27th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.24.

Coca-Cola Price Performance

The business has a fifty day moving average of $69.03 and a 200-day moving average of $66.35. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The firm has a market cap of $294.50 billion, a PE ratio of 27.63, a PEG ratio of 3.79 and a beta of 0.45.

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

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $0.51 per share. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date was Friday, March 14th. Coca-Cola’s payout ratio is 82.59%.

Insider Transactions at Coca-Cola

In related news, COO Henrique Braun sold 25,277 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the transaction, the chief operating officer now directly owns 52,466 shares in the company, valued at approximately $3,749,745.02. This represents a 32.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lisa Chang sold 13,445 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total transaction of $961,317.50. Following the completion of the sale, the executive vice president now directly owns 94,676 shares in the company, valued at $6,769,334. This represents a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 313,423 shares of company stock valued at $22,263,071. 0.97% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. purchased a new position in shares of Coca-Cola during the 4th quarter valued at about $27,000. Mainstream Capital Management LLC bought a new position in Coca-Cola during the fourth quarter valued at approximately $31,000. REAP Financial Group LLC raised its stake in shares of Coca-Cola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after acquiring an additional 208 shares in the last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola in the 4th quarter worth approximately $37,000. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in shares of Coca-Cola in the 4th quarter valued at $38,000. Institutional investors own 70.26% of the company’s stock.

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.