Coca-Cola (NYSE:KO) Trading 1.8% Higher After Analyst Upgrade

The Coca-Cola Company (NYSE:KO)’s stock price shot up 1.8% on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $74.00 to $78.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Coca-Cola traded as high as $74.24 and last traded at $74.10. 3,126,282 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 15,341,486 shares. The stock had previously closed at $72.77.

Several other research analysts also recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 target price on shares of Coca-Cola in a report on Thursday, February 6th. Piper Sandler lifted their price target on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Evercore ISI upped their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $75.06.

Insiders Place Their Bets

In related news, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total value of $961,317.50. Following the sale, the executive vice president now directly owns 94,676 shares of the company’s stock, valued at $6,769,334. This represents a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 313,423 shares of company stock worth $22,263,071. Corporate insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in KO. Peachtree Investment Partners LLC lifted its position in shares of Coca-Cola by 1.4% during the 4th quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company’s stock worth $697,000 after buying an additional 157 shares in the last quarter. Braun Bostich & Associates Inc. lifted its holdings in Coca-Cola by 3.8% during the first quarter. Braun Bostich & Associates Inc. now owns 4,308 shares of the company’s stock worth $309,000 after acquiring an additional 159 shares during the period. Fort Sheridan Advisors LLC boosted its position in Coca-Cola by 3.3% in the fourth quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock worth $311,000 after purchasing an additional 161 shares during the last quarter. Excalibur Management Corp increased its position in shares of Coca-Cola by 0.6% during the 4th quarter. Excalibur Management Corp now owns 29,412 shares of the company’s stock valued at $1,831,000 after purchasing an additional 161 shares during the last quarter. Finally, Wells Trecaso Financial Group LLC raised its stake in shares of Coca-Cola by 4.8% during the 4th quarter. Wells Trecaso Financial Group LLC now owns 3,616 shares of the company’s stock worth $225,000 after purchasing an additional 164 shares during the period. 70.26% of the stock is owned by institutional investors.

Coca-Cola Stock Up 1.6 %

The company has a market capitalization of $318.12 billion, a PE ratio of 29.93, a P/E/G ratio of 3.79 and a beta of 0.45. The stock’s fifty day moving average is $70.56 and its two-hundred day moving average is $66.43. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping the consensus estimate 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 predict that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 2.76%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio is currently 82.59%.

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.