Coca-Cola Company’s board of directors approved a two-for-one stock split on Wednesday, the first split in 16 years.
The split shows the board’s confidence in the long-term expansion and financial performance of the company, in accordance to Chief Executive Muhtar Kent.
Kent commented in a statement that a stock split reflects their wish to share value with an ever-growing number of people and organizations around the globe.
The split, which would double the number of remaining shares to 11.2 billion, is subject to authorization by shareholders. They will vote on it at a special meeting scheduled for July 10.
Its competitors include Dr Pepper Snapple Group Inc. (NYSE:DPS) that slipped -3.30% to $38.99 with the total traded volume of 2.47 million shares and PepsiCo, Inc. (NYSE:PEP) that surged 0.50% to $66.84 with the total traded volume of 2.28 million shares.
Other Basic Materials stocks with bullish trend include Koninklijke Philips Electronics NV (ADR) (NYSE:PHG) up 3.11% to $20.25, Altria Group, Inc. (NYSE:MO) up 0.03% to $31.71 and The Goodyear Tire & Rubber Company (NYSE:GT) up 1.88% to $11.40, whereas with bearish trend include Fibria Celulose S.A. (ADR) (NYSE:FBR) down -3.80% to $8.11, Iconix Brand Group, Inc. (NASDAQ:ICON) down -14.13% to $14.61 and Hitachi, Ltd. (ADR) (NYSE:HIT) down -1.30% to $62.37.
The Coca-Cola Company (NYSE:KO) stock reports on April 25, 2012 increased 1.03% to the trading price of $74.88 at 11:33AM EDT. Its fifty two week range is $63.34 -$74.90. The total market capitalization remained $169.00 billion.
The overall volume in the current trading session is 3.25 million shares. In its share capital KO has 2.26 billion outstanding shares among them 2.15 billion shares have been floated in market exchange. KO stock institutional ownership remained 64.02% while insider ownership included 0.60%.
KO is ahead its 52 week low with 20.19% and going forward from its 52 week high price with 0.44%. KO last month stock price volatility remained 0.97%. The stock price of KO is moving forward from its 20 days moving average with 2.15% and remote positively from 50 days moving average with 5.53%.
KO current year earnings per share experienced an addition with -27.10% while its current quarter performance remained 9.95%. Company’s beta coefficient included 0.52. Beta factors measures the amount of market risk associated with market trade.
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