Traders Buy Shares of Coca-Cola Company (The) (KO) on Weakness

Investors bought shares of Coca-Cola Company (The) (NYSE:KO) on weakness during trading on Monday. $56.16 million flowed into the stock on the tick-up and $27.69 million flowed out of the stock on the tick-down, for a money net flow of $28.47 million into the stock. Of all companies tracked, Coca-Cola Company (The) had the 25th highest net in-flow for the day. Coca-Cola Company (The) traded down ($0.08) for the day and closed at $45.41

KO has been the subject of several research analyst reports. Credit Suisse Group reaffirmed a “buy” rating and issued a $49.00 target price on shares of Coca-Cola Company (The) in a research report on Monday, July 24th. Sanford C. Bernstein set a $49.00 target price on shares of Coca-Cola Company (The) and gave the stock a “buy” rating in a research report on Tuesday, July 11th. UBS AG raised their target price on shares of Coca-Cola Company (The) from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. Zacks Investment Research raised shares of Coca-Cola Company (The) from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Friday, July 28th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $49.00 target price on shares of Coca-Cola Company (The) in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $46.39.

The stock has a market capitalization of $195.65 billion, a price-to-earnings ratio of 48.44 and a beta of 0.70. The stock has a 50-day moving average of $45.68 and a 200 day moving average of $44.78.

Coca-Cola Company (The) (NYSE:KO) last released its quarterly earnings results on Wednesday, July 26th. The company reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.02. The business had revenue of $9.70 billion during the quarter, compared to analyst estimates of $9.62 billion. Coca-Cola Company (The) had a net margin of 10.68% and a return on equity of 34.53%. The company’s quarterly revenue was down 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 earnings per share. Equities analysts predict that Coca-Cola Company will post $1.90 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 15th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.23%. The ex-dividend date was Thursday, September 14th. Coca-Cola Company (The)’s payout ratio is currently 154.17%.

In related news, insider Mark Randazza sold 24,156 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $46.01, for a total value of $1,111,417.56. Following the completion of the transaction, the insider now directly owns 26,567 shares of the company’s stock, valued at approximately $1,222,347.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Beatriz R. Perez sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $46.00, for a total transaction of $460,000.00. Following the completion of the transaction, the senior vice president now directly owns 98,718 shares of the company’s stock, valued at $4,541,028. The disclosure for this sale can be found here. Insiders sold a total of 366,835 shares of company stock valued at $16,874,246 over the last ninety days. 1.51% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. Indiana Trust & Investment Management CO raised its position in shares of Coca-Cola Company (The) by 17.2% in the 3rd quarter. Indiana Trust & Investment Management CO now owns 10,909 shares of the company’s stock valued at $491,000 after purchasing an additional 1,600 shares during the last quarter. Beacon Financial Group raised its position in shares of Coca-Cola Company (The) by 1.1% in the 3rd quarter. Beacon Financial Group now owns 183,033 shares of the company’s stock valued at $8,238,000 after purchasing an additional 2,020 shares during the last quarter. Curbstone Financial Management Corp raised its position in shares of Coca-Cola Company (The) by 93.9% in the 3rd quarter. Curbstone Financial Management Corp now owns 16,000 shares of the company’s stock valued at $720,000 after purchasing an additional 7,750 shares during the last quarter. Perpetual Ltd raised its position in shares of Coca-Cola Company (The) by 4.8% in the 2nd quarter. Perpetual Ltd now owns 43,938 shares of the company’s stock valued at $1,971,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Bogart Wealth LLC raised its position in shares of Coca-Cola Company (The) by 11.2% in the 2nd quarter. Bogart Wealth LLC now owns 11,533 shares of the company’s stock valued at $517,000 after purchasing an additional 1,164 shares during the last quarter. 64.62% of the stock is owned by hedge funds and other institutional investors.

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About Coca-Cola Company (The)

The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.

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