Coca-Cola suffers weak session with 0.46% loss; downside halted at $59.63

Published: March 19 2023, 17:21 GMT+0

Coca-Cola suffers weak session with 0.46% loss; downside halted at $59.63

A quick look at Friday: during Friday's session, Coca-Cola toiled and struggled for upward momentum before closing at $60.02. By the close, the the soft drinks giant suffered a 28 cents or 0.46% loss.

  • Daily trading volume (25.27 million shares) increased, making up 178% of the 21-day average (14.23 million).
  • Coca-Cola discloses 44 cents per share dividend to be paid on Thursday, December 15th

With investors awaiting market open on the New York Stock Exchange in 20 hours, Friday's session was noteworthy in that Dow Jones closed at 31,862 after losing 1.19%. S&P 500 fell 1.1% and reached 3,916.64. Coca-Cola was down Friday while similar drops were seen throughout the Consumer Defensive sector (down 0.212%).

The soft drinks giant has shed 6.48% over the past three months. So far this year, it has been doing worse than the Dow by 0.87%. Currently, the soft drinks giant has a market capitalization of $259.67 billion with an average daily volume of 14.23 million shares. Coca-Cola expected revenue of $9.99 billion with an EPS of 45 cents.

Coca-Cola disclosed a quarterly dividend of 44 cents per share on Thursday, October 20th that was paid on Thursday, December 15th to all shareholders of record up until Thursday, December 1st. Based on current prices, the company's decision thereby provides Coca-Cola investors with an annual dividend yield of 2.93%.

Coca-Cola was not the only decliner in the consumer staples sector; Anheuser-Busch went down 1.48%, closed at $60.81. Unilever lost 1.15% Friday and closed at $49.15.

On the other hand, positive performances could be seen by looking at other consumer staples stocks as Walmart gained 0.81%, as it traded at $139.4.