The Coca-Cola Co (NYSE:KO) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 32,056,942 shares, a growth of 21.9% from the October 31st total of 26,305,738 shares. Based on an average daily volume of 13,761,430 shares, the short-interest ratio is currently 2.3 days. Approximately 0.8% of the shares of the company are sold short.
In other news, SVP Beatriz R. Perez sold 10,000 shares of The Coca-Cola stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $47.98, for a total transaction of $479,800.00. Following the transaction, the senior vice president now directly owns 92,645 shares of the company’s stock, valued at approximately $4,445,107.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP James L. Dinkins sold 8,754 shares of The Coca-Cola stock in a transaction dated Wednesday, October 24th. The shares were sold at an average price of $46.95, for a total value of $411,000.30. Following the transaction, the senior vice president now directly owns 28,354 shares in the company, valued at $1,331,220.30. The disclosure for this sale can be found here. Insiders sold 374,542 shares of company stock worth $18,436,957 over the last three months. Insiders own 1.48% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue increased its position in shares of The Coca-Cola by 0.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 560,169 shares of the company’s stock valued at $25,871,000 after purchasing an additional 4,973 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in shares of The Coca-Cola by 1.1% during the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 233,378 shares of the company’s stock valued at $10,236,000 after purchasing an additional 2,600 shares during the last quarter. First Command Financial Services Inc. increased its position in shares of The Coca-Cola by 73.2% during the 3rd quarter. First Command Financial Services Inc. now owns 19,124 shares of the company’s stock valued at $883,000 after purchasing an additional 8,084 shares during the last quarter. HPM Partners LLC increased its position in shares of The Coca-Cola by 3.0% during the 2nd quarter. HPM Partners LLC now owns 100,292 shares of the company’s stock valued at $4,399,000 after purchasing an additional 2,931 shares during the last quarter. Finally, Baldwin Investment Management LLC bought a new position in shares of The Coca-Cola during the 2nd quarter valued at approximately $272,000. 65.79% of the stock is currently owned by institutional investors and hedge funds.
NYSE:KO opened at $50.40 on Monday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.98 and a current ratio of 1.06. The Coca-Cola has a 1 year low of $41.45 and a 1 year high of $50.84. The company has a market capitalization of $215.00 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 3.30 and a beta of 0.60.
The Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, October 30th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. The Coca-Cola had a return on equity of 43.12% and a net margin of 8.70%. The business had revenue of $8.25 billion for the quarter, compared to the consensus estimate of $8.20 billion. During the same quarter in the previous year, the company posted $0.50 EPS. The company’s revenue was down 9.2% compared to the same quarter last year. On average, equities analysts expect that The Coca-Cola will post 2.08 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Thursday, November 29th. The Coca-Cola’s payout ratio is 81.68%.
A number of research firms have recently weighed in on KO. HSBC set a $61.00 price objective on The Coca-Cola and gave the company a “buy” rating in a research report on Thursday, September 27th. Jefferies Financial Group set a $48.00 price target on The Coca-Cola and gave the stock a “neutral” rating in a report on Thursday, September 6th. Morgan Stanley set a $49.00 price target on The Coca-Cola and gave the stock a “neutral” rating in a report on Wednesday, September 26th. Guggenheim began coverage on The Coca-Cola in a report on Thursday, September 13th. They issued a “buy” rating and a $51.00 price target on the stock. Finally, Bank of America reissued a “buy” rating and issued a $52.00 price target on shares of The Coca-Cola in a report on Tuesday, October 30th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $51.43.
The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plantbased beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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