Traders Sell Shares of Coca-Cola Co. (KO) on Strength (KO)
Investors sold shares of Coca-Cola Co. (NYSE:KO) on strength during trading on Wednesday. $63.09 million flowed into the stock on the tick-up and $107.41 million flowed out of the stock on the tick-down, for a money net flow of $44.32 million out of the stock. Of all equities tracked, Coca-Cola had the 0th highest net out-flow for the day. Coca-Cola traded up $0.19 for the day and closed at $42.53
KO has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Coca-Cola from a “sell” rating to a “hold” rating in a research note on Monday, September 12th. Independent Research GmbH set a $38.00 target price on shares of Coca-Cola and gave the company a “sell” rating in a research note on Monday, August 1st. Vetr downgraded shares of Coca-Cola from a “strong-buy” rating to a “buy” rating and set a $46.93 target price on the stock. in a research note on Thursday, September 15th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Coca-Cola in a research note on Sunday, July 24th. Finally, SunTrust Banks Inc. reaffirmed a “buy” rating on shares of Coca-Cola in a research note on Sunday, July 31st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the stock. Coca-Cola currently has an average rating of “Hold” and an average target price of $46.75.
The stock has a market capitalization of $183.56 billion, a price-to-earnings ratio of 24.47 and a beta of 0.57. The company’s 50-day moving average is $43.35 and its 200 day moving average is $44.73.
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Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The business had revenue of $11.50 billion for the quarter, compared to analysts’ expectations of $11.69 billion. Coca-Cola had a return on equity of 32.78% and a net margin of 17.61%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. On average, equities research analysts forecast that Coca-Cola Co. will post $1.91 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Tuesday, September 13th. Coca-Cola’s dividend payout ratio is currently 80.46%.
Several institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its position in Coca-Cola by 444.7% in the second quarter. Franklin Resources Inc. now owns 7,849,538 shares of the company’s stock valued at $355,819,000 after buying an additional 6,408,420 shares in the last quarter. Vanguard Group Inc. increased its position in Coca-Cola by 2.0% in the second quarter. Vanguard Group Inc. now owns 273,897,295 shares of the company’s stock valued at $12,415,764,000 after buying an additional 5,478,675 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in Coca-Cola during the second quarter valued at $233,278,000. Canada Pension Plan Investment Board increased its position in Coca-Cola by 1,282.8% in the first quarter. Canada Pension Plan Investment Board now owns 4,442,458 shares of the company’s stock valued at $206,086,000 after buying an additional 4,121,188 shares in the last quarter. Finally, Janus Capital Management LLC increased its position in Coca-Cola by 40.9% in the second quarter. Janus Capital Management LLC now owns 13,411,916 shares of the company’s stock valued at $607,938,000 after buying an additional 3,891,114 shares in the last quarter. 64.33% of the stock is currently owned by hedge funds and other institutional investors.
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets over 500 nonalcoholic beverage brands, primarily sparkling beverages but also a range 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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