The Coca-Cola Co (NYSE:KO) declared a quarterly dividend on Thursday, February 20th, RTT News reports. Stockholders of record on Monday, March 16th will be given a dividend of 0.41 per share on Wednesday, April 1st. This represents a $1.64 annualized dividend and a dividend yield of 2.73%. This is a boost from The Coca-Cola’s previous quarterly dividend of $0.40.
The Coca-Cola has raised its dividend payment by an average of 2.6% per year over the last three years and has increased its dividend annually for the last 57 consecutive years. The Coca-Cola has a payout ratio of 70.8% meaning its dividend is sufficiently covered by earnings. Analysts expect The Coca-Cola to earn $2.44 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 65.6%.
NYSE KO opened at $60.13 on Friday. The Coca-Cola has a one year low of $44.42 and a one year high of $60.13. The company has a 50-day simple moving average of $57.58 and a 200-day simple moving average of $54.87. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.63 and a current ratio of 0.76. The firm has a market capitalization of $255.87 billion, a PE ratio of 28.30, a price-to-earnings-growth ratio of 3.66 and a beta of 0.41.
A number of research firms have issued reports on KO. Bank of America boosted their target price on shares of The Coca-Cola from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Credit Suisse Group raised shares of The Coca-Cola from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $54.00 to $64.00 in a research note on Thursday, January 9th. UBS Group boosted their target price on shares of The Coca-Cola from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Morgan Stanley boosted their price target on shares of The Coca-Cola from $61.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Evercore ISI restated a “buy” rating and set a $60.00 price target on shares of The Coca-Cola in a research report on Sunday, November 17th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The Coca-Cola currently has an average rating of “Buy” and an average price target of $60.28.
In other news, VP Larry M. Mark sold 90,289 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $54.93, for a total transaction of $4,959,574.77. Following the sale, the vice president now owns 93,474 shares in the company, valued at $5,134,526.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Nancy Quan sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $46.00, for a total transaction of $460,000.00. Following the sale, the senior vice president now owns 175,049 shares in the company, valued at approximately $8,052,254. The disclosure for this sale can be found here. Insiders have sold 190,643 shares of company stock worth $10,640,599 in the last 90 days. 1.33% of the stock is owned by company insiders.
About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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