The Coca-Cola Company Sees Large Growth in Short Interest (KO)
The Coca-Cola Company (NYSE:KO) was the target of a significant increase in short interest in the month of April. As of April 30th, there was short interest totalling 54,834,254 shares, an increase of 8.1% from the April 15th total of 50,703,284 shares, Analyst Ratings News reports. Approximately 1.3% of the shares of the company are short sold. Based on an average daily trading volume, of 16,282,216 shares, the short-interest ratio is currently 3.4 days.
In other The Coca-Cola Company news, SVP Guy Wollaert unloaded 22,460 shares of The Coca-Cola Company stock on the open market in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $40.96, for a total transaction of $919,961.60. Following the completion of the transaction, the senior vice president now directly owns 43,457 shares in the company, valued at approximately $1,779,999. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on KO shares. Analysts at Zacks reiterated a “neutral” rating on shares of The Coca-Cola Company in a research note on Thursday, May 15th. They now have a $43.00 price target on the stock. Separately, analysts at Nomura initiated coverage on shares of The Coca-Cola Company in a research note on Tuesday, April 29th. They set a “buy” rating and a $53.50 price target on the stock. They noted that the move was a valuation call. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of The Coca-Cola Company in a research note on Friday, April 25th. They now have a $48.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $45.32.
The Coca-Cola Company (NYSE:KO) opened at 40.58 on Wednesday. The Coca-Cola Company has a 52 week low of $36.83 and a 52 week high of $43.05. The stock’s 50-day moving average is $40.13 and its 200-day moving average is $39.44. The company has a market cap of $178.4 billion and a P/E ratio of 21.76.
The Coca-Cola Company (NYSE:KO) last issued its quarterly earnings data on Tuesday, April 15th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by $0.01. The company had revenue of $10.58 billion for the quarter, compared to the consensus estimate of $10.61 billion. During the same quarter in the previous year, the company posted $0.46 earnings per share. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. Analysts expect that The Coca-Cola Company will post $2.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 1st. Shareholders of record on Monday, June 16th will be given a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Thursday, June 12th.
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets more than 500 nonalcoholic beverage brands, primarily sparkling beverages but also a variety of still beverages, such as waters, enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks.
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