CocaCola (NYSE:KO) Stock Price Up 2.4% – Still a Buy?

by · The Markets Daily

CocaCola Company (The) (NYSE:KO – Get Free Report)’s stock price shot up 2.4% during trading on Tuesday . The company traded as high as $72.06 and last traded at $72.41. 4,755,795 shares were traded during trading, a decline of 70% from the average session volume of 16,053,535 shares. The stock had previously closed at $70.75.

Wall Street Analysts Forecast Growth

KO has been the topic of several research analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. UBS Group increased their price target on shares of CocaCola from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Barclays restated an “overweight” rating on shares of CocaCola in a report on Thursday, March 27th. JPMorgan Chase & Co. increased their target price on shares of CocaCola from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Finally, Royal Bank Of Canada boosted their price target on shares of CocaCola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, CocaCola has a consensus rating of “Buy” and a consensus target price of $76.27.

Read Our Latest Stock Analysis on CocaCola

CocaCola Stock Up 1.3%

The company has a market capitalization of $308.57 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 3.69 and a beta of 0.46. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.89 and a current ratio of 1.10. The business has a 50-day simple moving average of $71.21 and a two-hundred day simple moving average of $68.40.

CocaCola (NYSE:KO – Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The business had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The business’s quarterly revenue was down .7% compared to the same quarter last year. As a group, equities analysts predict that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Friday, June 13th. CocaCola’s dividend payout ratio (DPR) is currently 81.60%.

Insider Transactions at CocaCola

In other CocaCola news, CFO John Murphy sold 88,658 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the transaction, the chief financial officer directly owned 205,511 shares in the company, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO James Quincey sold 266,403 shares of the firm’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the transaction, the chief executive officer directly owned 275,946 shares of the company’s stock, valued at $19,884,668.76. The trade was a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 415,387 shares of company stock valued at $29,923,985 in the last ninety days. 0.90% of the stock is currently owned by company insiders.

Institutional Trading of CocaCola

Several large investors have recently modified their holdings of the business. Brighton Jones LLC increased its stake in shares of CocaCola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after acquiring an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in CocaCola by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock worth $548,000 after purchasing an additional 293 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in shares of CocaCola by 12.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company’s stock valued at $1,189,000 after purchasing an additional 2,072 shares during the last quarter. SRS Capital Advisors Inc. boosted its holdings in shares of CocaCola by 219.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 13,154 shares of the company’s stock valued at $819,000 after purchasing an additional 9,039 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its stake in shares of CocaCola by 49.0% during the 4th quarter. Jones Financial Companies Lllp now owns 404,936 shares of the company’s stock valued at $25,211,000 after buying an additional 133,205 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

CocaCola Company Profile

(Get Free Report)

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.

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