The Coca-Cola Co (KO) Declares Quarterly Dividend of $0.39

The Coca-Cola Co (NYSE:KO) announced a quarterly dividend on Thursday, February 15th, RTT News reports. Shareholders of record on Thursday, March 15th will be given a dividend of 0.39 per share on Monday, April 2nd. This represents a $1.56 annualized dividend and a yield of 3.51%. This is a boost from The Coca-Cola’s previous quarterly dividend of $0.37.

The Coca-Cola has increased its dividend payment by an average of 6.7% annually over the last three years and has increased its dividend annually for the last 55 consecutive years. The Coca-Cola has a payout ratio of 77.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect The Coca-Cola to earn $2.02 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 73.3%.

The Coca-Cola (NYSE KO) traded up $0.29 during midday trading on Thursday, reaching $44.39. The company’s stock had a trading volume of 4,354,722 shares, compared to its average volume of 13,589,564. The Coca-Cola has a 1-year low of $40.50 and a 1-year 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 stock has a market cap of $188,880.00, a PE ratio of 42.22, a P/E/G ratio of 3.56 and a beta of 0.70.

KO has been the subject of several research analyst reports. Royal Bank of Canada set a $49.00 price objective on The Coca-Cola and gave the stock 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 stock a “sell” rating in a report on Wednesday, November 15th. Evercore ISI upgraded The Coca-Cola from an “in-line” rating to an “outperform” rating and increased their price objective for the stock 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 upgraded The Coca-Cola from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $46.72 to $51.00 in a report on Tuesday, November 14th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $49.01.

In related news, insider Ed Hays sold 84,400 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $47.50, for a total transaction of $4,009,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Edward Long sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $47.95, for a total value of $719,250.00. Following the transaction, the insider now directly owns 24,673 shares of the company’s stock, valued at approximately $1,183,070.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 122,640 shares of company stock valued at $5,800,776. 1.51% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. Noesis Capital Mangement Corp increased its position 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 valued at $389,000 after buying an additional 90 shares in the last quarter. Pacific Center for Financial Services increased its position in The Coca-Cola by 1.4% during the 2nd quarter. Pacific Center for Financial Services now owns 7,422 shares of the company’s stock valued at $333,000 after buying an additional 100 shares in the last quarter. Monetary Management Group Inc. increased its position in The Coca-Cola by 1.0% during the 2nd quarter. Monetary Management Group Inc. now owns 10,625 shares of the company’s stock valued at $477,000 after buying an additional 100 shares in the last quarter. Westside Investment Management Inc. increased its position in The Coca-Cola by 2.6% during the 2nd quarter. Westside Investment Management Inc. now owns 4,163 shares of the company’s stock valued at $185,000 after buying an additional 107 shares in the last quarter. Finally, Courier Capital LLC increased its holdings in shares of The Coca-Cola by 0.3% in the 2nd quarter. Courier Capital LLC now owns 31,897 shares of the company’s stock worth $1,431,000 after purchasing an additional 111 shares in the last quarter. 65.34% of the stock is owned by institutional investors.

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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.

Dividend History for The Coca-Cola (NYSE:KO)

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