Coca-Cola Co (The) (NYSE:KO) Short Interest Up 11.4% in July
Coca-Cola Co (The) (NYSE:KO) saw a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 26,970,000 shares, a growth of 11.4% from the June 30th total of 24,220,000 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average daily volume of 18,150,000 shares, the days-to-cover ratio is currently 1.5 days.
NYSE KO traded down $0.45 on Friday, reaching $47.24. The company had a trading volume of 14,850,566 shares, compared to its average volume of 16,251,326. The firm has a market cap of $202.92 billion, a price-to-earnings ratio of 22.28, a P/E/G ratio of 5.46 and a beta of 0.54. Coca-Cola has a fifty-two week low of $36.27 and a fifty-two week high of $60.13. The business has a 50 day moving average of $45.98 and a two-hundred day moving average of $49.34. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.09 and a quick ratio of 0.96.
Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. The business had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $7.26 billion. Coca-Cola had a return on equity of 41.44% and a net margin of 26.77%. Coca-Cola’s quarterly revenue was down 28.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 earnings per share. As a group, research analysts predict that Coca-Cola will post 1.8 earnings per share for the current fiscal year.
Several brokerages recently issued reports on KO. Zacks Investment Research cut Coca-Cola from a “hold” rating to a “sell” rating and set a $49.00 price target for the company. in a research note on Wednesday, May 27th. Jefferies Financial Group cut their price target on Coca-Cola from $48.00 to $47.00 and set a “hold” rating for the company in a research note on Wednesday, April 22nd. Cfra cut their price target on Coca-Cola from $60.00 to $55.00 and set a “strong-buy” rating for the company in a research note on Tuesday, April 21st. Barclays reiterated a “buy” rating and issued a $50.00 price target on shares of Coca-Cola in a research note on Thursday, April 23rd. Finally, Bank of America restated a “buy” rating and set a $53.00 target price on shares of Coca-Cola in a research note on Friday, July 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Coca-Cola presently has a consensus rating of “Buy” and a consensus price target of $54.05.
In related news, Director David B. Weinberg sold 400,000 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $48.42, for a total value of $19,368,000.00. Following the completion of the sale, the director now directly owns 355,214 shares in the company, valued at $17,199,461.88. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director David B. Weinberg sold 98,905 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $48.50, for a total value of $4,796,892.50. Following the completion of the sale, the director now owns 355,214 shares of the company’s stock, valued at $17,227,879. The disclosure for this sale can be found here. Insiders sold 698,905 shares of company stock worth $33,768,893 in the last ninety days. 1.01% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of KO. Macquarie Group Ltd. grew its holdings in Coca-Cola by 26.9% during the 4th quarter. Macquarie Group Ltd. now owns 97,305 shares of the company’s stock worth $5,385,000 after acquiring an additional 20,620 shares during the period. Callahan Advisors LLC grew its holdings in Coca-Cola by 5.5% during the 1st quarter. Callahan Advisors LLC now owns 45,675 shares of the company’s stock worth $2,021,000 after acquiring an additional 2,400 shares during the period. State of Alaska Department of Revenue grew its holdings in Coca-Cola by 5.4% during the 1st quarter. State of Alaska Department of Revenue now owns 758,979 shares of the company’s stock worth $33,584,000 after acquiring an additional 38,733 shares during the period. Sound Income Strategies LLC grew its holdings in Coca-Cola by 95.4% during the 1st quarter. Sound Income Strategies LLC now owns 3,445 shares of the company’s stock worth $152,000 after acquiring an additional 1,682 shares during the period. Finally, Truehand Inc grew its holdings in Coca-Cola by 2.3% during the 1st quarter. Truehand Inc now owns 52,761 shares of the company’s stock worth $2,335,000 after acquiring an additional 1,190 shares during the period. Institutional investors and hedge funds own 67.40% of the company’s stock.
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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