The Coca-Cola Company (NYSE:KO) Short Interest Up 9.6% in June

Posted by Defense World Staff on Jul 22nd, 2023

The Coca-Cola Company (NYSE:KO – Get Free Report) was the recipient of a significant increase in short interest in June. As of June 30th, there was short interest totalling 19,340,000 shares, an increase of 9.6% from the June 15th total of 17,640,000 shares. Approximately 0.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 13,550,000 shares, the short-interest ratio is presently 1.4 days.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, insider Henrique Braun sold 16,950 shares of the business’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $64.03, for a total value of $1,085,308.50. Following the transaction, the insider now directly owns 26,272 shares in the company, valued at $1,682,196.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Coca-Cola news, insider Henrique Braun sold 16,950 shares of the business’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $64.03, for a total value of $1,085,308.50. Following the completion of the transaction, the insider now directly owns 26,272 shares of the company’s stock, valued at $1,682,196.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO James Quincey sold 150,000 shares of the business’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $64.33, for a total transaction of $9,649,500.00. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $28,468,984.18. The disclosure for this sale can be found here. Insiders have sold a total of 420,786 shares of company stock worth $26,886,224 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Coca-Cola

Several institutional investors and hedge funds have recently added to or reduced their stakes in KO. Venturi Wealth Management LLC bought a new stake in Coca-Cola during the first quarter worth $25,000. Freedom Wealth Alliance LLC bought a new position in shares of Coca-Cola in the fourth quarter valued at about $25,000. Worth Asset Management LLC raised its position in shares of Coca-Cola by 956.1% in the fourth quarter. Worth Asset Management LLC now owns 433 shares of the company’s stock valued at $28,000 after purchasing an additional 392 shares during the period. Fortis Capital Advisors LLC bought a new position in shares of Coca-Cola in the fourth quarter valued at about $30,000. Finally, NewSquare Capital LLC raised its position in shares of Coca-Cola by 62.5% in the first quarter. NewSquare Capital LLC now owns 507 shares of the company’s stock valued at $31,000 after purchasing an additional 195 shares during the period. 68.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

KO has been the subject of a number of research analyst reports. StockNews.com assumed coverage on shares of Coca-Cola in a research note on Thursday, May 18th. They issued a “buy” rating for the company. Citigroup boosted their price target on shares of Coca-Cola from $71.00 to $74.00 in a research note on Monday, April 24th. Evercore ISI boosted their price target on shares of Coca-Cola from $68.00 to $70.00 in a research note on Tuesday, April 25th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Coca-Cola from $61.00 to $63.00 in a research note on Tuesday, April 25th. Finally, Barclays dropped their price target on shares of Coca-Cola from $73.00 to $69.00 and set an “overweight” rating for the company in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.40.

Coca-Cola Stock Performance

Shares of KO opened at $62.44 on Friday. Coca-Cola has a 12 month low of $54.01 and a 12 month high of $65.47. The firm has a fifty day simple moving average of $60.97 and a 200 day simple moving average of $61.30. The stock has a market capitalization of $270.03 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 3.45 and a beta of 0.54. The company has a current ratio of 1.15, a quick ratio of 0.95 and a debt-to-equity ratio of 1.34.

Coca-Cola (NYSE:KO – Get Free Report) last announced its earnings results on Monday, April 24th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.65 by $0.03. Coca-Cola had a net margin of 22.69% and a return on equity of 42.96%. The business had revenue of $11 billion during the quarter, compared to analysts’ expectations of $10.78 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis. Research analysts forecast that Coca-Cola will post 2.61 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.95%. The ex-dividend date is Thursday, September 14th. Coca-Cola’s dividend payout ratio (DPR) is currently 80.70%.

Coca-Cola Company Profile

(Get Free Report)

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.