The Coca-Cola Co (NYSE:KO) saw a large increase in short interest in December. As of December 31st, there was short interest totalling 37,470,000 shares, an increase of 9.1% from the December 15th total of 34,350,000 shares. Approximately 0.9% of the company’s shares are sold short. Based on an average daily volume of 11,120,000 shares, the short-interest ratio is presently 3.4 days.
A number of research analysts recently weighed in on the company. Morgan Stanley reaffirmed a “buy” rating and set a $60.00 price target on shares of The Coca-Cola in a research note on Tuesday, October 29th. Evercore ISI reaffirmed a “buy” rating and set a $60.00 price target on shares of The Coca-Cola in a research note on Sunday, November 17th. JPMorgan Chase & Co. set a $59.00 price target on The Coca-Cola and gave the stock a “neutral” rating in a research note on Friday, October 18th. Guggenheim set a $59.00 price target on The Coca-Cola and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, UBS Group raised The Coca-Cola from a “neutral” rating to a “buy” rating and upped their price target for the stock from $55.00 to $63.00 in a research note on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $57.05.
Shares of NYSE KO opened at $56.00 on Wednesday. The stock has a fifty day simple moving average of $54.59 and a two-hundred day simple moving average of $53.72. The Coca-Cola has a 1-year low of $44.42 and a 1-year high of $56.29. The firm has a market cap of $239.50 billion, a price-to-earnings ratio of 26.92, a price-to-earnings-growth ratio of 3.78 and a beta of 0.42. The company has a current ratio of 0.92, a quick ratio of 0.79 and a debt-to-equity ratio of 1.50.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Friday, October 18th. The company reported $0.56 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.56. The Coca-Cola had a return on equity of 45.21% and a net margin of 22.41%. The firm had revenue of $9.51 billion during the quarter, compared to analyst estimates of $9.42 billion. During the same period last year, the company earned $0.57 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. Analysts forecast that The Coca-Cola will post 2.1 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.86%. The ex-dividend date was Friday, November 29th. The Coca-Cola’s dividend payout ratio is 76.92%.
In related news, SVP James L. Dinkins sold 18,389 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $55.00, for a total transaction of $1,011,395.00. Following the sale, the senior vice president now owns 69,344 shares in the company, valued at approximately $3,813,920. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Lisa Chang bought 500 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average price of $54.55 per share, for a total transaction of $27,275.00. Following the transaction, the senior vice president now owns 5,948 shares in the company, valued at $324,463.40. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 132,678 shares of company stock worth $7,264,570. 1.33% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of KO. Nuveen Asset Management LLC boosted its stake in The Coca-Cola by 9,580.7% during the second quarter. Nuveen Asset Management LLC now owns 32,579,854 shares of the company’s stock valued at $1,658,966,000 after buying an additional 32,243,310 shares during the period. Morgan Stanley boosted its stake in The Coca-Cola by 15.0% during the second quarter. Morgan Stanley now owns 41,763,050 shares of the company’s stock valued at $2,126,574,000 after buying an additional 5,449,889 shares during the period. Vanguard Group Inc. boosted its stake in The Coca-Cola by 1.4% during the second quarter. Vanguard Group Inc. now owns 308,293,644 shares of the company’s stock valued at $15,698,312,000 after buying an additional 4,225,080 shares during the period. California Public Employees Retirement System boosted its stake in The Coca-Cola by 20.9% during the second quarter. California Public Employees Retirement System now owns 23,023,556 shares of the company’s stock valued at $1,172,359,000 after buying an additional 3,984,190 shares during the period. Finally, State Street Corp boosted its stake in The Coca-Cola by 1.3% during the third quarter. State Street Corp now owns 181,621,433 shares of the company’s stock valued at $9,959,624,000 after buying an additional 2,412,293 shares during the period. 67.54% of the stock is owned by institutional investors.
The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; 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.
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