James Quincey Sells 92,028 Shares of The Coca-Cola Company (NYSE:KO) Stock

The Coca-Cola Company (NYSE:KO) CEO James Quincey sold 92,028 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $57.15, for a total transaction of $5,259,400.20. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $25,291,503.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

James Quincey also recently made the following trade(s):

• On Tuesday, October 17th, James Quincey sold 92,029 shares of Coca-Cola stock. The stock was sold at an average price of $53.86, for a total transaction of $4,956,681.94.
• On Monday, September 18th, James Quincey sold 92,029 shares of Coca-Cola stock. The stock was sold at an average price of $58.09, for a total transaction of $5,345,964.61.

Coca-Cola Price Performance

Coca-Cola stock traded up $0.25 during trading hours on Monday, reaching $57.51. 6,188,879 shares of the stock were exchanged, compared to its average volume of 13,558,306. The stock has a 50 day moving average of $56.02 and a two-hundred day moving average of $59.30. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.99. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 1.23. The company has a market cap of $248.64 billion, a P/E ratio of 22.98, a price-to-earnings-growth ratio of 3.46 and a beta of 0.59.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, October 24th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Coca-Cola had a net margin of 23.92% and a return on equity of 42.44%. The company had revenue of $11.95 billion for the quarter, compared to the consensus estimate of $11.45 billion. Equities analysts expect that The Coca-Cola Company will post 2.68 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.46 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.20%. Coca-Cola’s payout ratio is currently 73.90%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on KO shares. Jefferies Financial Group started coverage on shares of Coca-Cola in a research report on Monday, November 13th. They issued a “hold” rating and a $64.00 price objective on the stock. Barclays dropped their price objective on shares of Coca-Cola from $70.00 to $59.00 and set an “overweight” rating on the stock in a research report on Thursday, October 12th. Morgan Stanley decreased their price target on shares of Coca-Cola from $70.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 25th. Citigroup decreased their price target on shares of Coca-Cola from $74.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, October 11th. Finally, JPMorgan Chase & Co. upped their price target on shares of Coca-Cola from $59.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, October 25th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.20.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. State Street Corp raised its holdings in Coca-Cola by 1.0% during the 2nd quarter. State Street Corp now owns 171,246,926 shares of the company’s stock worth $10,390,407,000 after purchasing an additional 1,628,772 shares during the last quarter. Morgan Stanley raised its holdings in Coca-Cola by 2.5% during the 3rd quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock worth $4,503,484,000 after purchasing an additional 1,950,146 shares during the last quarter. Geode Capital Management LLC raised its holdings in Coca-Cola by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 79,165,884 shares of the company’s stock worth $4,754,907,000 after purchasing an additional 2,183,864 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Coca-Cola by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,138,970 shares of the company’s stock valued at $3,501,789,000 after acquiring an additional 2,464,618 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC increased its stake in shares of Coca-Cola by 103,297.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 57,734,303 shares of the company’s stock valued at $3,672,479,000 after acquiring an additional 57,678,466 shares in the last quarter. Institutional investors own 68.96% 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.