Short Interest in The Coca-Cola Co (KO) Increases By 21.9%

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.

COPYRIGHT VIOLATION NOTICE: This article was originally published by American Banking News and is the property of of American Banking News. If you are reading this article on another publication, it was illegally stolen and republished in violation of United States & international copyright and trademark law. The correct version of this article can be read at https://www.americanbankingnews.com/2018/12/03/short-interest-in-the-coca-cola-co-ko-increases-by-21-9.html.

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 plant–based 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.

Featured Story: Understanding Average Daily Trade Volume

Receive News & Ratings for The Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply