High Volume of Put Options Traded on Coca-Cola

The Coca-Cola Company (NYSE:KO) experienced a significant spike in options trading activity on Thursday, with investors acquiring 72,457 put options. This figure marks an increase of about 43% over the average daily volume of 50,522 put options, indicating a notable interest in bearish positions regarding the company's stock performance.

Insider Transactions at Coca-Cola

In addition to the options trading, recent insider activity has been noteworthy. CEO James Quincey sold 100,000 shares of Coca-Cola stock on Friday, November 8th, at an average price of $64.03. This transaction totaled approximately $6.4 million. Post-sale, Quincey retains ownership of 342,546 shares, currently valued at about $21.9 million, reflecting a 22.6% reduction in his stock position with the company. This transaction was publicly disclosed through a filing with the SEC.

Institutional Investors and Coca-Cola

Institutional trading has also been active around Coca-Cola. Several hedge funds and investment groups have adjusted their positions. Apella Capital LLC increased its stake by 1.4% in the third quarter, accumulating 10,533 shares valued at around $748,000. Similarly, Investment Advisory Group LLC raised its holdings by 4.5%, while CCG Wealth Management LLC and Investment Partners Asset Management Inc. also reported modest increases. Notably, institutional investors altogether hold approximately 70.26% of Coca-Cola shares.

Analysts' Price Targets

Various research firms have updated their price targets for Coca-Cola. Barclays reduced its target from $74.00 to $73.00 but maintained an 'overweight' rating. Wells Fargo decreased its price consideration from $75.00 to $70.00, still within an 'overweight' rating framework. Conversely, UBS lowered its target from $82.00 to $72.00 while continuing to endorse a 'buy' rating. Piper Sandler initiated coverage with a $74.00 price target, highlighting an overall optimistic view among analysts with 15 rating it a 'buy', and only one a 'strong buy'. Currently, the average price target stands at around $72.60, with a consensus rating of 'Moderate Buy'.

Coca-Cola's Stock Performance

As for the stock’s trading performance, Coca-Cola shares saw a slight uptick of 0.8%, closing at $62.27. Trading volumes amounted to over 12.5 million shares, compared to an average of about 15.9 million. The company’s stock has ranged from a low of $57.93 to a high of $73.53 over the past year. Coca-Cola exhibits a market capitalization of approximately $268.23 billion, alongside other financial metrics such as a price-to-earnings ratio of 25.73 and a current debt-to-equity ratio of 1.53.

Coca-Cola Earnings Overview

Coca-Cola recently announced its quarterly earnings on October 23rd, reporting earnings per share (EPS) of $0.77, surpassing consensus estimates of $0.74. The company generated revenue of $11.85 billion, exceeding analyst predictions of $11.61 billion for the quarter. However, the quarterly revenue showed a year-over-year decrease of 0.8%, reflecting ongoing challenges in the beverage market.

About Coca-Cola

The Coca-Cola Company is a prominent beverage manufacturer, marketing a wide array of nonalcoholic drinks around the globe. The company’s diverse portfolio includes sparkling soft drinks, water, coffee, tea, juice, and plant-based beverages, along with beverage concentrates and fountain syrups offered to retailers.

CocaCola, Options, Trading