The Coca-Cola Company Plans Quarterly Dividend of $0.49 (NYSE:KO)

by · The Markets Daily

The Coca-Cola Company (NYSE:KO – Get Free Report) announced a quarterly dividend on Friday, October 18th, Wall Street Journal reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.485 per share on Monday, December 16th. This represents a $1.94 annualized dividend and a yield of 2.75%. The ex-dividend date is Friday, November 29th.

Coca-Cola has increased its dividend by an average of 3.9% annually over the last three years and has increased its dividend annually for the last 63 consecutive years. Coca-Cola has a payout ratio of 63.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Coca-Cola to earn $3.03 per share next year, which means the company should continue to be able to cover its $1.94 annual dividend with an expected future payout ratio of 64.0%.

Coca-Cola Trading Up 0.8 %

Shares of NYSE:KO opened at $70.43 on Friday. The business has a 50-day moving average price of $70.70 and a 200-day moving average price of $65.72. The stock has a market cap of $303.41 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 3.92 and a beta of 0.60. Coca-Cola has a 52-week low of $53.86 and a 52-week high of $73.53. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO – Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. The business had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.78 EPS. Equities analysts predict that Coca-Cola will post 2.85 EPS for the current year.

Insider Activity

In related news, EVP Nancy Quan sold 37,787 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $14,954,176.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 37,787 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,954,176.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 356,792 shares of company stock worth $24,728,364 over the last 90 days. 0.97% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KO. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Barclays lifted their price target on Coca-Cola from $70.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Truist Financial upped their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank of Canada raised their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, BNP Paribas initiated coverage on shares of Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 target price for the company. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Read Our Latest Stock Report on KO

About Coca-Cola

(Get Free Report)

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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