Coca-Cola (NYSE:KO) Shares Down 2% After Insider Selling

The Coca-Cola Company (NYSE:KO) fell 2% on Tuesday after an insider sold shares in the company. The stock traded as low as $70.48 and last traded at $70.55. 5,351,452 shares traded hands during trading, a decline of 66% from the average session volume of 15,687,257 shares. The stock had previously closed at $72.00.

Specifically, CEO James Quincey sold 266,403 shares of the business’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the sale, the chief executive officer now directly owns 275,946 shares of the company’s stock, valued at approximately $19,884,668.76. The trade was a 49.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analysts Set New Price Targets

Several analysts have recently weighed in on KO shares. Royal Bank of Canada boosted their target price on Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Barclays restated an “overweight” rating on shares of Coca-Cola in a research report on Thursday, March 27th. UBS Group boosted their price target on Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Evercore ISI boosted their price target on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company boosted their target price on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $75.81.

Coca-Cola Price Performance

The company has a 50 day moving average price of $71.39 and a 200 day moving average price of $67.42. The firm has a market cap of $306.59 billion, a PE ratio of 28.84, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. 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 results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. The business had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.72 EPS. On average, sell-side analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s dividend payout ratio (DPR) is 81.60%.

Institutional Investors Weigh In On Coca-Cola

Large investors have recently bought and sold shares of the stock. MorganRosel Wealth Management LLC acquired a new stake in Coca-Cola during the 1st quarter valued at $25,000. Crowley Wealth Management Inc. acquired a new stake in Coca-Cola during the 4th quarter valued at $27,000. Garde Capital Inc. acquired a new stake in Coca-Cola during the 1st quarter valued at $30,000. Mainstream Capital Management LLC acquired a new stake in Coca-Cola during the 4th quarter valued at $31,000. Finally, Mizuho Securities Co. Ltd. grew its holdings in Coca-Cola by 360.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company’s stock valued at $33,000 after buying an additional 360 shares during the last quarter. Institutional investors and hedge funds own 70.26% 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.