Coca-Cola Company (The) (KO) Reaches New 12-Month High at $46.56

Coca-Cola Company (The) (NYSE:KO)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $46.56 and last traded at $46.57, with a volume of 4,933,993 shares traded. The stock had previously closed at $46.30.

A number of research firms have issued reports on KO. Vetr raised shares of Coca-Cola Company (The) from a “sell” rating to a “strong-buy” rating in a research report on Tuesday. Jefferies Group LLC reissued a “hold” rating and set a $47.00 price target on shares of Coca-Cola Company (The) in a research report on Thursday, September 7th. Royal Bank Of Canada reissued a “buy” rating and set a $49.00 price target on shares of Coca-Cola Company (The) in a research report on Wednesday, September 6th. Cowen and Company reissued a “hold” rating and set a $42.00 price target on shares of Coca-Cola Company (The) in a research report on Thursday, August 24th. Finally, Citigroup Inc. set a $53.00 price target on shares of Coca-Cola Company (The) and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $45.79.

The company has a market cap of $199.28 billion, a PE ratio of 49.33 and a beta of 0.71. The stock’s 50 day moving average price is $45.75 and its 200-day moving average price is $44.26.

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

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Thursday, September 14th. Coca-Cola Company (The)’s dividend payout ratio (DPR) is 154.17%.

In other Coca-Cola Company (The) news, insider Mark Randazza sold 24,156 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $46.01, for a total value of $1,111,417.56. Following the sale, the insider now owns 26,567 shares of the company’s stock, valued at $1,222,347.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian John Smith sold 100,000 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $46.10, for a total value of $4,610,000.00. Following the completion of the sale, the insider now directly owns 136,385 shares in the company, valued at approximately $6,287,348.50. The disclosure for this sale can be found here. Insiders sold 366,835 shares of company stock worth $16,874,246 in the last three months. 1.51% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Portfolio Solutions LLC acquired a new stake in Coca-Cola Company (The) in the first quarter valued at $108,000. Signature Estate & Investment Advisors LLC boosted its stake in shares of Coca-Cola Company (The) by 5.0% during the first quarter. Signature Estate & Investment Advisors LLC now owns 2,725 shares of the company’s stock valued at $116,000 after acquiring an additional 129 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Coca-Cola Company (The) by 59.4% during the second quarter. Meeder Asset Management Inc. now owns 2,754 shares of the company’s stock valued at $124,000 after acquiring an additional 1,026 shares during the last quarter. Eagle Ridge Investment Management acquired a new stake in shares of Coca-Cola Company (The) during the second quarter valued at $138,000. Finally, SRS Capital Advisors Inc. boosted its stake in shares of Coca-Cola Company (The) by 8.6% during the first quarter. SRS Capital Advisors Inc. now owns 3,326 shares of the company’s stock valued at $141,000 after acquiring an additional 264 shares during the last quarter. 64.68% of the stock is currently owned by 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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