The Coca-Cola Co (NYSE:KO) Declares Quarterly Dividend of $0.40
The Coca-Cola Co (NYSE:KO) announced a quarterly dividend on Thursday, July 18th, RTT News reports. Shareholders of record on Monday, September 16th will be given a dividend of 0.40 per share on Tuesday, October 1st. This represents a $1.60 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Friday, September 13th.
The Coca-Cola has raised its dividend payment by an average of 5.7% annually over the last three years and has increased its dividend annually for the last 56 consecutive years. The Coca-Cola has a payout ratio of 77.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect The Coca-Cola to earn $2.27 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 70.5%.
Shares of NYSE KO opened at $54.77 on Thursday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.71 and a current ratio of 0.83. The Coca-Cola has a fifty-two week low of $44.25 and a fifty-two week high of $55.92. The firm has a market capitalization of $233.13 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 3.79 and a beta of 0.44. The stock’s 50-day simple moving average is $54.00 and its 200-day simple moving average is $50.00.
KO has been the topic of several analyst reports. SunTrust Banks lifted their target price on The Coca-Cola to $60.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Atlantic Securities began coverage on The Coca-Cola in a research note on Monday, July 29th. They issued an “overweight” rating and a $62.00 price target on the stock. Deutsche Bank lifted their price target on The Coca-Cola from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Credit Suisse Group lifted their price target on The Coca-Cola from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, Barclays set a $54.00 price target on The Coca-Cola and gave the company a “buy” rating in a research note on Thursday, May 16th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The Coca-Cola presently has a consensus rating of “Buy” and an average price target of $54.10.
In other news, COO Brian John Smith sold 60,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $54.87, for a total value of $3,292,200.00. Following the completion of the transaction, the chief operating officer now owns 174,302 shares of the company’s stock, valued at approximately $9,563,950.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Beatriz R. Perez sold 14,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $53.40, for a total transaction of $747,600.00. Following the completion of the transaction, the senior vice president now directly owns 108,457 shares of the company’s stock, valued at approximately $5,791,603.80. The disclosure for this sale can be found here. Insiders sold a total of 299,001 shares of company stock valued at $16,206,741 in the last three months. 1.33% of the stock is owned by company insiders.
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 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.
Further Reading: What is a Fiduciary?
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