Coca-Cola (NYSE:KO) Trading Up 1.9% After Dividend Announcement

The Coca-Cola Company (NYSE:KO) was up 1.9% during mid-day trading on Friday following a dividend announcement from the company. The company traded as high as $71.52 and last traded at $71.38. Approximately 5,437,726 shares traded hands during trading, a decline of 67% from the average daily volume of 16,319,519 shares. The stock had previously closed at $70.04.

The newly announced dividend which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid 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 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Friday, March 14th. Coca-Cola’s dividend payout ratio is presently 78.54%.

Analysts Set New Price Targets

KO has been the topic of several recent analyst reports. UBS Group increased their target price on shares of Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. 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 research note on Wednesday, January 8th. Piper Sandler lowered their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Morgan Stanley increased their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, Barclays increased their target price on shares of Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Two investment 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’s stock. According to data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and a consensus price target of $73.82.

Coca-Cola Stock Performance

The company has a market cap of $307.46 billion, a price-to-earnings ratio of 28.90, a P/E/G ratio of 3.79 and a beta of 0.61. 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 stock’s fifty day simple moving average is $63.71 and its 200 day simple moving average is $66.42.

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, analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Institutional Trading of Coca-Cola

Hedge funds and other institutional investors have recently made changes to their positions in the company. Crowley Wealth Management Inc. acquired a new stake in shares of Coca-Cola during the 4th quarter worth approximately $27,000. Hara Capital LLC acquired a new stake in Coca-Cola in the 3rd quarter valued at approximately $35,000. Mainstream Capital Management LLC acquired a new stake in Coca-Cola in the 4th quarter valued at approximately $31,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola in the 3rd quarter valued at approximately $36,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Coca-Cola in the 3rd quarter valued at approximately $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

About Coca-Cola

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.