Shares of The Coca-Cola Company (NYSE:KO) were the target of a significant increase in short interest during the month of April. As of April 30th, there was short interest totalling 54,834,254 shares, an increase of 8.1% from the April 15th total of 50,703,284 shares, American Banking & Market News reports. Based on an average daily volume of 16,282,216 shares, the short-interest ratio is currently 3.4 days. Currently, 1.3% of the shares of the stock are sold short.
In other The Coca-Cola Company news, SVP Guy Wollaert unloaded 22,460 shares of the stock on the open market in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $40.96, for a total value of $919,961.60. Following the sale, the senior vice president now directly owns 43,457 shares in the company, valued at approximately $1,779,999. The sale was disclosed in a filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of The Coca-Cola Company in a research note on Thursday, May 15th. They now have a $43.00 price target on the stock. Separately, analysts at Nomura initiated coverage on shares of The Coca-Cola Company in a research note on Tuesday, April 29th. They set a “buy” rating and a $53.50 price target on the stock. They noted that the move was a valuation call. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of The Coca-Cola Company in a research note on Friday, April 25th. They now have a $48.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. The Coca-Cola Company presently has a consensus rating of “Hold” and an average price target of $45.32.
The Coca-Cola Company (NYSE:KO) opened at 40.87 on Thursday. The Coca-Cola Company has a 52-week low of $36.83 and a 52-week high of $43.05. The stock has a 50-day moving average of $40.20 and a 200-day moving average of $39.4. The company has a market cap of $179.6 billion and a P/E ratio of 21.69.
The Coca-Cola Company (NYSE:KO) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $0.44 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.45 by $0.01. The company had revenue of $10.58 billion for the quarter, compared to the consensus estimate of $10.61 billion. During the same quarter last year, the company posted $0.46 earnings per share. The Coca-Cola Company’s revenue was down 4.2% compared to the same quarter last year. Analysts expect that The Coca-Cola Company will post $2.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 1st. Shareholders of record on Monday, June 16th will be given a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Thursday, June 12th.
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets more than 500 nonalcoholic beverage brands, primarily sparkling beverages but also a variety of still beverages, such as waters, enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks.
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