Coca-Cola Co’s recent filing unveils that its Executive Vice President QUAN NANCY unloaded Company’s shares for reported $3.49 million on Mar 13 ’24. In the deal valued at $60.87 per share,57,368 shares were sold. As a result of this transaction, QUAN NANCY now holds 223,330 shares worth roughly $13.24 million.
Then, Pietracci Bruno sold 18,551 shares, generating $1,102,208 in total proceeds. Upon selling the shares at $59.41, the President, Latin America OU now owns 0 shares.
Before that, Quincey James sold 247,188 shares. Coca-Cola Co shares valued at $15,063,192 were divested by the Chairman and CEO at a price of $60.94 per share. As a result of the transaction, Quincey James now holds 442,546 shares, worth roughly $26.23 million.
Citigroup reiterated its Coca-Cola Co [KO] rating to a Buy in a research note published on January 17, 2024; the price target was $68. A number of analysts have revised their coverage, including Jefferies’s analysts, who began to cover the stock in mid November with a ‘”a Hold”‘ rating. JP Morgan also remained covering KO and reiterated its “an Overweight” recommendation on July 14, 2023. Citigroup started covering the stock on February 17, 2023. It rated KO as “a Buy”.
Price Performance Review of KO
On Monday, Coca-Cola Co [NYSE:KO] saw its stock fall -0.40% to $59.27. Over the last five days, the stock has lost -2.32%. Coca-Cola Co shares have risen nearly 0.58% since the year began. Nevertheless, the stocks have fallen -5.62% over the past one year. While a 52-week high of $64.99 was reached on 02/23/24, a 52-week low of $51.55 was recorded on 01/25/24. SMA at 50 days reached $60.12, while 200 days put it at $59.03. A total of 10.28 million shares were traded, compared to the trading of 2.51 million shares in the previous session.
Levels Of Support And Resistance For KO Stock
The 24-hour chart illustrates a support level at 59.07, which if violated will result in even more drops to 58.87. On the upside, there is a resistance level at 59.47. A further resistance level may holdings at 59.67. The Relative Strength Index (RSI) on the 14-day chart is 39.98, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.91, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 85.72%. Stochastics %K at 14.61% indicates the stock is a buying.
How much short interest is there in Coca-Cola Co?
A steep rise in short interest was recorded in Coca-Cola Co stocks on Mar 15, 2024, growing by 0.77 million shares to a total of 23.86 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 23.09 million shares. There was a rise of 3.23%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 0.56% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.68.
The most recent change occurred on February 15, 2023 when Wells Fargo resumed its ‘”an Overweight”‘ rating for the stock and retained the price target to $68.
