The Coca-Cola Target of Unusually Large Options Trading (KO)
The Coca-Cola Co (NYSE:KO) was the recipient of unusually large options trading on Friday. Traders bought 6,392 put options on the company. This is an increase of 114% compared to the typical volume of 2,982 put options.
Shares of The Coca-Cola (NYSE:KO) traded down 0.04% during trading on Friday, hitting $45.39. 11,341,333 shares of the stock were exchanged. The company has a market cap of $193.93 billion, a price-to-earnings ratio of 31.94 and a beta of 0.69. The stock’s 50 day moving average price is $43.48 and its 200-day moving average price is $42.09. The Coca-Cola has a one year low of $39.88 and a one year high of $46.01.
The Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, April 25th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.44 by $0.01. The Coca-Cola had a return on equity of 32.94% and a net margin of 15.59%. 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 previous year, the company earned $0.45 earnings per share. The Coca-Cola’s quarterly revenue was down 11.3% on a year-over-year basis. On average, analysts predict that The Coca-Cola will post $1.89 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Tuesday, June 13th. The Coca-Cola’s payout ratio is 93.33%.
Several research analysts have recently commented on the company. Barclays PLC set a $45.00 price objective on The Coca-Cola and gave the stock a “neutral” rating in a report on Monday, May 15th. Morgan Stanley set a $45.00 price objective on The Coca-Cola and gave the stock a “neutral” rating in a report on Monday, May 15th. Credit Suisse Group AG upgraded The Coca-Cola from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $44.00 to $49.00 in a report on Wednesday, April 19th. Royal Bank of Canada reiterated a “buy” rating and issued a $49.00 price objective on shares of The Coca-Cola in a report on Monday, April 24th. Finally, Jefferies Group LLC reiterated a “neutral” rating and issued a $45.00 price objective on shares of The Coca-Cola in a report on Tuesday, April 25th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $44.54.
In other The Coca-Cola news, insider Brian John Smith sold 87,800 shares of the firm’s stock in a transaction dated 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 in the company, valued at $6,479,104.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Irial Finan sold 354,146 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $45.00, for a total value of $15,936,570.00. Following the sale, the insider now owns 780,258 shares in the company, valued at approximately $35,111,610. The disclosure for this sale can be found here. Insiders sold 463,946 shares of company stock valued at $20,701,224 over the last ninety days. Corporate insiders own 1.54% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of KO. BlackRock Inc. increased its position in shares of The Coca-Cola by 2,715.6% in the first quarter. BlackRock Inc. now owns 240,927,516 shares of the company’s stock worth $10,224,966,000 after buying an additional 232,370,549 shares in the last quarter. Norges Bank bought a new stake in The Coca-Cola during the fourth quarter valued at about $1,486,731,000. Lazard Asset Management LLC boosted its stake in The Coca-Cola by 36.2% in the first quarter. Lazard Asset Management LLC now owns 24,472,033 shares of the company’s stock valued at $1,038,591,000 after buying an additional 6,500,970 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in The Coca-Cola by 845.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 7,250,023 shares of the company’s stock valued at $300,667,000 after buying an additional 6,483,151 shares in the last quarter. Finally, Troy Asset Management Ltd bought a new stake in The Coca-Cola during the first quarter valued at about $239,034,000. Institutional investors and hedge funds own 63.88% of the company’s stock.
The Coca-Cola Company Profile
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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