The Coca-Cola Co (KO) Sees Significant Increase in Short Interest

The Coca-Cola Co (NYSE:KO) was the target of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 43,399,660 shares, an increase of 22.4% from the January 12th total of 35,456,091 shares. Based on an average daily volume of 13,100,173 shares, the days-to-cover ratio is presently 3.3 days. Approximately 1.0% of the shares of the company are sold short.

Shares of The Coca-Cola (NYSE KO) opened at $43.13 on Monday. The Coca-Cola has a 52 week low of $40.22 and a 52 week high of $48.62. The company has a current ratio of 1.39, a quick ratio of 1.30 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $183,760.00, a P/E ratio of 41.08, a price-to-earnings-growth ratio of 3.48 and a beta of 0.70.

In other news, insider Robert Edward Long sold 15,000 shares of the business’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $47.95, for a total value of $719,250.00. Following the completion of the transaction, the insider now owns 24,673 shares of the company’s stock, valued at approximately $1,183,070.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kathy N. Waller sold 23,240 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $46.15, for a total value of $1,072,526.00. Following the completion of the transaction, the chief financial officer now directly owns 123,796 shares of the company’s stock, valued at approximately $5,713,185.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 122,640 shares of company stock worth $5,800,776. Company insiders own 1.51% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Lyell Wealth Management LP increased its stake in The Coca-Cola by 0.6% during the 2nd quarter. Lyell Wealth Management LP now owns 7,950 shares of the company’s stock worth $359,000 after buying an additional 50 shares in the last quarter. Atlantic Trust LLC increased its stake in The Coca-Cola by 1.4% during the 2nd quarter. Atlantic Trust LLC now owns 6,304 shares of the company’s stock worth $283,000 after buying an additional 89 shares in the last quarter. Noesis Capital Mangement Corp increased its stake in The Coca-Cola by 1.0% during the 2nd quarter. Noesis Capital Mangement Corp now owns 8,680 shares of the company’s stock worth $389,000 after buying an additional 90 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its position in shares of The Coca-Cola by 0.6% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 16,963 shares of the company’s stock valued at $753,000 after purchasing an additional 95 shares in the last quarter. Finally, Financial Advisory Service Inc. grew its position in shares of The Coca-Cola by 0.4% in the second quarter. Financial Advisory Service Inc. now owns 26,389 shares of the company’s stock valued at $1,184,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 65.39% of the company’s stock.

KO has been the subject of several analyst reports. Royal Bank of Canada set a $49.00 price objective on The Coca-Cola and gave the company a “buy” rating in a report on Sunday, November 12th. Goldman Sachs Group set a $45.00 price objective on The Coca-Cola and gave the company a “sell” rating in a report on Wednesday, November 15th. Evercore ISI raised The Coca-Cola from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $46.04 to $55.00 in a report on Friday, January 12th. Zacks Investment Research cut The Coca-Cola from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, Wells Fargo & Co raised The Coca-Cola from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $46.72 to $51.00 in a report on Tuesday, November 14th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $49.01.

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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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