The Coca-Cola Co (NYSE:KO) declared a quarterly dividend on Thursday, July 18th, RTT News reports. Shareholders of record on Monday, September 16th will be paid 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 2.94%. The ex-dividend date of this dividend is Friday, September 13th.
The Coca-Cola has increased its dividend payment by an average of 5.7% per year over the last three years and has raised its dividend every year for the last 56 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 decline. 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 KO stock opened at $54.40 on Wednesday. The firm has a market capitalization of $233.13 billion, a price-to-earnings ratio of 26.15, a price-to-earnings-growth ratio of 3.79 and a beta of 0.44. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.83 and a quick ratio of 0.71. The business has a fifty day moving average of $53.99 and a 200 day moving average of $49.95. The Coca-Cola has a 1 year low of $44.25 and a 1 year high of $55.92.
A number of equities analysts have issued reports on the stock. Deutsche Bank raised their price target on shares of The Coca-Cola from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Morgan Stanley set a $60.00 price target on shares of The Coca-Cola and gave the company a “buy” rating in a report on Tuesday, September 3rd. Credit Suisse Group upped their price target on shares of The Coca-Cola from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Royal Bank of Canada reaffirmed a “buy” rating and set a $60.00 price target on shares of The Coca-Cola in a research report on Wednesday, July 24th. Finally, SunTrust Banks lifted their price objective on The Coca-Cola to $60.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $54.10.
In other news, insider Nikolaos Koumettis sold 146,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $54.31, for a total transaction of $7,929,260.00. Following the transaction, the insider now owns 244,451 shares in the company, valued at approximately $13,276,133.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Brian John Smith sold 60,000 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now owns 174,302 shares in the company, valued at approximately $9,563,950.74. The disclosure for this sale can be found here. Insiders sold 299,001 shares of company stock valued at $16,206,741 over the last 90 days. Company insiders own 1.33% of the company’s stock.
About The Coca-Cola
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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