Coca-Cola Co (The) (NYSE:KO) Short Interest Update

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Coca-Cola Co (The) (NYSE:KO) saw a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 23,530,000 shares, an increase of 19.9% from the August 31st total of 19,630,000 shares. Based on an average daily trading volume, of 15,470,000 shares, the days-to-cover ratio is presently 1.5 days. Approximately 0.6% of the company’s stock are sold short.

In other Coca-Cola news, Director David B. Weinberg sold 98,905 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $48.50, for a total transaction of $4,796,892.50. Following the transaction, the director now owns 355,214 shares in the company, valued at approximately $17,227,879. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David B. Weinberg sold 400,000 shares of the stock in a transaction 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 transaction, the director now owns 355,214 shares in the company, valued at approximately $17,199,461.88. The disclosure for this sale can be found here. In the last three months, insiders sold 836,439 shares of company stock valued at $40,380,407. 1.01% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of KO. Costello Asset Management INC bought a new stake in Coca-Cola in the second quarter worth approximately $25,000. Demars Financial Group LLC bought a new stake in Coca-Cola in the second quarter worth approximately $27,000. Evolution Wealth Advisors LLC increased its holdings in Coca-Cola by 112.5% in the second quarter. Evolution Wealth Advisors LLC now owns 627 shares of the company’s stock worth $28,000 after purchasing an additional 332 shares in the last quarter. Anderson Fisher LLC increased its holdings in Coca-Cola by 26.5% in the second quarter. Anderson Fisher LLC now owns 1,142 shares of the company’s stock worth $51,000 after purchasing an additional 239 shares in the last quarter. Finally, AlphaMark Advisors LLC increased its holdings in Coca-Cola by 22.2% in the second quarter. AlphaMark Advisors LLC now owns 1,205 shares of the company’s stock worth $54,000 after purchasing an additional 219 shares in the last quarter. 65.86% of the stock is currently owned by institutional investors.

KO has been the topic of a number of recent analyst reports. Morgan Stanley upgraded Coca-Cola from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $52.00 to $54.00 in a research report on Wednesday, July 22nd. They noted that the move was a valuation call. Zacks Investment Research lowered Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 price objective on the stock. in a research note on Tuesday, September 22nd. Finally, Bank of America reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Coca-Cola in a research note on Friday, July 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $54.19.

Shares of Coca-Cola stock traded up $0.18 during midday trading on Friday, reaching $49.36. The company had a trading volume of 13,610,071 shares, compared to its average volume of 17,785,096. The stock has a fifty day moving average price of $49.41 and a 200 day moving average price of $46.76. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.09 and a quick ratio of 0.96. The firm has a market cap of $212.02 billion, a PE ratio of 23.28, a P/E/G ratio of 5.87 and a beta of 0.55. Coca-Cola has a fifty-two week low of $36.27 and a fifty-two week high of $60.13.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.02. The company had revenue of $7.20 billion for the quarter, compared to analyst estimates of $7.26 billion. Coca-Cola had a return on equity of 41.44% and a net margin of 26.77%. The firm’s quarterly revenue was down 28.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 earnings per share. As a group, sell-side analysts forecast that Coca-Cola will post 1.8 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 15th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend was Monday, September 14th. Coca-Cola’s dividend payout ratio is currently 77.73%.

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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