The Coca-Cola Co (KO) Short Interest Down 24.0% in August
The Coca-Cola Co (NYSE:KO) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 22,283,661 shares, a decrease of 24.0% from the August 15th total of 29,320,452 shares. Based on an average trading volume of 10,928,486 shares, the days-to-cover ratio is currently 2.0 days. Currently, 0.5% of the shares of the stock are sold short.
KO has been the subject of several analyst reports. JPMorgan Chase & Co. restated a “$45.12” rating and set a $49.00 price target on shares of The Coca-Cola in a research report on Wednesday, July 18th. Morgan Stanley set a $49.00 price target on shares of The Coca-Cola and gave the company a “neutral” rating in a research report on Tuesday, September 4th. Jefferies Financial Group set a $48.00 price target on shares of The Coca-Cola and gave the company a “neutral” rating in a research report on Thursday, September 6th. Argus upgraded shares of The Coca-Cola to a “hold” rating in a research report on Friday, August 24th. Finally, Macquarie set a $47.00 price target on shares of The Coca-Cola and gave the company a “neutral” rating in a research report on Friday. Fourteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The Coca-Cola has a consensus rating of “Hold” and a consensus price target of $50.31.
In other The Coca-Cola news, insider John Murphy sold 56,000 shares of the company’s stock in a transaction dated Wednesday, July 25th. The shares were sold at an average price of $46.48, for a total transaction of $2,602,880.00. Following the completion of the sale, the insider now directly owns 140,869 shares in the company, valued at $6,547,591.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Kathy N. Waller sold 48,354 shares of the company’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $46.45, for a total transaction of $2,246,043.30. Following the sale, the vice president now owns 200,725 shares of the company’s stock, valued at $9,323,676.25. The disclosure for this sale can be found here. In the last three months, insiders sold 215,822 shares of company stock worth $10,027,727. 1.48% of the stock is owned by insiders.
The Coca-Cola stock opened at $46.32 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.15 and a debt-to-equity ratio of 1.39. The stock has a market cap of $197.26 billion, a PE ratio of 24.18, a PEG ratio of 2.85 and a beta of 0.74. The Coca-Cola has a 1-year low of $41.45 and a 1-year high of $48.62.
The Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, July 25th. The company reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. The company had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.54 billion. The Coca-Cola had a net margin of 7.18% and a return on equity of 40.68%. The Coca-Cola’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 earnings per share. sell-side analysts predict that The Coca-Cola will post 2.07 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be issued a $0.39 dividend. The ex-dividend date is Thursday, September 13th. This represents a $1.56 annualized dividend and a yield of 3.37%. The Coca-Cola’s dividend payout ratio (DPR) is presently 81.68%.
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.
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