Coca-Cola slides 0.25%; closes lower for six consecutive days

Published: May 27 2023, 03:51 GMT+0

Coca-Cola slides 0.25%; closes lower for six consecutive days

Yesterday at a glance: the soft drink company has recovered almost all of its session losses after dipping down to $60.11 yesterday.

  • The day's trading volume totalled 9.32 million shares — slightly below the 21-day average of 10.78 million.
  • Coca-Cola discloses 46 cents per share dividend to be paid on Monday, April 3rd

With investors awaiting market open on the New York Stock Exchange in 3 days, yesterday's session was noteworthy in that S&P 500 climbed 1.3% and reached 4,205.45. Dow Jones gained 1% and reached 33,100. Coca-Cola ended the day at $60.26, doing worse than the Consumer Defensive sector which saw a 0.538% increase this session.

Coca-Cola hit a significant low of $54.39 around 7 months ago, but has since recovered 11.07%. So far this year, it has been under-performing the Dow by 4.13%. Currently, the soft drinks giant has a market capitalization of $260.60 billion with an average daily trading volume of 10.78 million shares. Coca-Cola expected revenue of $10.80 billion with an EPS of 68 cents.

Coca-Cola disclosed a quarterly dividend of 46 cents per share on Thursday, February 16th that was paid on Monday, April 3rd to all shareholders of record up until Friday, March 17th. Based on current prices, the company's decision thereby provides Coca-Cola investors with an annual dividend yield of 3.05%.

On the other hand, positive performances could be seen by looking at other consumer staples stocks as Costco traded at $507.26 after closing yesterday's trading day at $486.55 (up 4.26%). Anheuser-Busch was up 0.49%. Walmart gained 0.18%, as it traded at $146.42.