Risk-off mood drags Coca-Cola 0.46% lower

Published: March 19 2023, 09:51 GMT+0

Risk-off mood drags Coca-Cola 0.46% lower

Friday at a glance: 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 around a day until market open on the New York Stock Exchange, Friday's session was notable in that Dow Jones dropped by 1.19% to close at 31,862. S&P 500 closed at 3,916.64 after losing 1.1%. Coca-Cola closed lower Friday, with similar drops noticed throughout the Consumer Defensive sector (down 0.212%).

The soft drinks giant is now trading 6.48% below its 3-month high of $66.21. So far this year, it has been under-performing the Dow by 0.87%. Coca-Cola's market cap currently stands at $259.67 billion with an average daily trading volume of 14.23 million shares. Coca-Cola has a forecast 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 descends 1.48% Friday to close at $60.81. Unilever retreats 1.15% Friday to close at $49.72.

On the other hand, positive performances could be seen by looking at other consumer staples stocks as Walmart was up 0.81%.