The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Coca-Cola Co shares valued at $3,492,111 were sold by QUAN NANCY on Mar 13 ’24. At $60.87 per share, QUAN NANCY sold 57,368 shares. The insider’s holdings dropped to 223,330 shares worth approximately $13.19 million following the completion of this transaction.
Also, Pietracci Bruno sold 18,551 shares, netting a total of over 1,102,208 in proceeds. Following the sale of shares at $59.41 each, the insider now holds 0 shares.
Before that, Quincey James had sold 247,188 shares from its account. In a trade valued at $15,063,192, the Chairman and CEO traded Coca-Cola Co shares for $60.94 each. Upon closing the transaction, the insider’s holdings decreased to 247,188 shares, worth approximately $26.13 million.
As published in a research note from Citigroup on January 17, 2024, Coca-Cola Co [KO] has been retained to a Buy and the price target has been revised to $68. Analysts at Jefferies started covering the stock with ‘”a Hold”‘ outlook in a report released in mid November. As of July 14, 2023, JP Morgan has reiterated its “an Overweight” rating for KO. Earlier on February 17, 2023, Citigroup initiated its rating. Their recommendation was “a Buy” for KO stock.
Analyzing KO Stock Performance
During the last five days, there has been a drop of approximately -0.42%. Over the course of the year, Coca-Cola Co shares have jumped approximately 0.20%. Shares of the company reached a 52-week high of $61.62 on 02/23/24 and a 52-week low of $58.66 on 01/25/24. A 50-day SMA is recorded $60.09, while a 200-day SMA reached $59.00. Nevertheless, trading volume fell to 11.09 million shares from 11.86 million shares the previous day.
Support And Resistance Levels for Coca-Cola Co (KO)
According to the 24-hour chart, there is a support level at 58.77, which, if violated, would cause prices to drop to 58.48. In the upper region, resistance lies at 59.35. The next price resistance is at 59.65. RSI (Relative Strength Index) is 40.26 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.78, which suggests the price will decrease in the coming days. Percent R is at 86.86%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Coca-Cola Co subject to short interest?
Stocks of Coca-Cola Co saw a sharp rise in short interest on Mar 28, 2024 jumping by 4.55 million shares to 26.68 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 22.13 million shares. A jump of 17.05% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.87 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.87.
