Stock Traders Purchase High Volume of Call Options on The Coca-Cola (KO)
The Coca-Cola Co (NYSE:KO) saw unusually large options trading activity on Tuesday. Stock investors bought 24,058 call options on the stock. This represents an increase of approximately 246% compared to the average daily volume of 6,950 call options.
Several research firms recently weighed in on KO. Gabelli reissued a “hold” rating on shares of The Coca-Cola in a research note on Saturday, February 11th. Goldman Sachs Group Inc set a $38.00 price objective on shares of The Coca-Cola and gave the stock a “sell” rating in a research note on Friday, February 10th. Susquehanna Bancshares Inc set a $38.00 price objective on shares of The Coca-Cola and gave the stock a “hold” rating in a research note on Saturday, March 25th. Vetr raised shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $44.81 price objective on the stock in a research note on Monday, April 24th. Finally, Jefferies Group LLC reissued a “neutral” rating and set a $45.00 price objective on shares of The Coca-Cola in a research note on Tuesday, April 25th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $44.54.
In other news, insider J Alexander Douglas, Jr. sold 22,000 shares of The Coca-Cola stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $43.25, for a total transaction of $951,500.00. Following the completion of the sale, the insider now owns 319,436 shares in the company, valued at approximately $13,815,607. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brian John Smith sold 87,800 shares of The Coca-Cola stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $43.43, for a total transaction of $3,813,154.00. Following the sale, the insider now owns 149,185 shares of the company’s stock, valued at approximately $6,479,104.55. The disclosure for this sale can be found here. 1.54% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the stock. Portfolio Solutions LLC purchased a new stake in shares of The Coca-Cola during the first quarter valued at $108,000. Welch Investments LLC purchased a new stake in shares of The Coca-Cola during the fourth quarter valued at $115,000. Signature Estate & Investment Advisors LLC raised its stake in shares of The Coca-Cola by 5.0% in the first quarter. Signature Estate & Investment Advisors LLC now owns 2,725 shares of the company’s stock valued at $116,000 after buying an additional 129 shares during the period. Barnett & Company Inc. raised its stake in shares of The Coca-Cola by 27.7% in the third quarter. Barnett & Company Inc. now owns 2,837 shares of the company’s stock valued at $120,000 after buying an additional 616 shares during the period. Finally, SRS Capital Advisors Inc. purchased a new stake in shares of The Coca-Cola during the fourth quarter valued at $127,000. 63.88% of the stock is owned by hedge funds and other institutional investors.
Shares of The Coca-Cola (NYSE:KO) traded up 0.27% during mid-day trading on Tuesday, hitting $43.85. 10,450,808 shares of the stock were exchanged. The Coca-Cola has a 12-month low of $39.88 and a 12-month high of $46.01. The stock has a market capitalization of $187.35 billion, a P/E ratio of 30.86 and a beta of 0.69. The stock’s 50 day moving average price is $43.02 and its 200-day moving average price is $41.95.
The Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, April 25th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by $0.01. The Coca-Cola had a net margin of 15.59% and a return on equity of 32.94%. The business had revenue of $9.12 billion for the quarter, compared to analysts’ expectations of $8.85 billion. During the same period in the prior year, the business earned $0.45 earnings per share. The company’s revenue for the quarter was down 11.3% compared to the same quarter last year. On average, equities research analysts expect that The Coca-Cola will post $1.88 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Tuesday, June 13th. The Coca-Cola’s dividend payout ratio is presently 93.33%.
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About The Coca-Cola
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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