Investors Surge into Coca-Cola Put Options

The Coca-Cola Company (NYSE:KO - Get Free Report) experienced notable options trading on Thursday, with investors purchasing a significant number of put options. A total of 72,457 put options were bought, marking an increase of approximately 43% over the average daily volume of 50,522 put options.

Recent Insider Transactions at Coca-Cola

In a related development, CEO James Quincey executed a substantial sale of shares on November 8th, offloading 100,000 shares at an average price of $64.03. This transaction totaled $6,403,000. Following this sale, Quincey retains ownership of 342,546 shares, which are currently valued at around $21.9 million. This move constitutes a 22.6% reduction in his stake in the company. The details of this transaction have been made available in filings with the SEC.

Institutional Investment Activity

Recent activity from institutional investors reveals varying movements in Coca-Cola shares. Notable changes include Apella Capital LLC raising its holdings by 1.4% in the third quarter, bringing its total to 10,533 shares worth approximately $748,000. Similarly, Investment Advisory Group LLC increased its stake by 4.5%, acquiring an additional 146 shares. CCG Wealth Management LLC also saw a 4.3% increase in its holdings, now totaling 3,614 shares valued at around $260,000. Institutional investors collectively control around 70.26% of Coca-Cola's stock.

Analyst Ratings and Price Predictions

Various research firms have recently reevaluated their price targets for Coca-Cola. Barclays adjusted their price target from $74.00 to $73.00, while Wells Fargo lowered theirs from $75.00 to $70.00. UBS Group has also cut their target from $82.00 to $72.00, though maintaining a "buy" rating. Other firms such as Piper Sandler and HSBC Global raised their ratings for the stock, with Piper Sandler setting a target of $74.00 and HSBC assigning a "strong-buy" label. Currently, the consensus rating suggests a "Moderate Buy" with an average target of $72.60.

Coca-Cola's Stock Performance

On Thursday, Coca-Cola shares experienced a minor uptick of 0.8%, closing at $62.27. The day's trading volume reached approximately 12,558,834 shares, below the average of 15,935,552. Over the past year, the stock's price has fluctuated between a low of $57.93 and a high of $73.53. Financial metrics indicate a current ratio of 1.06, a quick ratio of 0.90, and a debt-to-equity ratio of 1.53, with a market capitalization of around $268.23 billion.

Earnings Performance

Coca-Cola reported its quarterly earnings on October 23rd, revealing earnings per share (EPS) of $0.77, surpassing analysts' expectations of $0.74. The company generated revenue of $11.85 billion, exceeding forecasts of $11.61 billion, albeit showing a year-over-year decline of 0.8% in revenue. The forecast for the EPS for the current fiscal year stands at 2.85.

Company Overview

The Coca-Cola Company is a global leader in beverage production, focusing on non-alcoholic drinks. Its product range includes soft drinks, juices, dairy beverages, and specialized drinks for various market segments. It also markets beverage concentrates and syrups for retail partners.

Conclusion

Coca-Cola's activity in the options market, coupled with significant insider transactions and institutional maneuvers, reflects the company's dynamic position in the investment landscape. Investors and analysts will continue to watch developments closely.

Coca-Cola, investors, options