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Land This Bargain Even Cheaper Than Director Daley Did
By Dividend Channel Staff, Thursday, December 20, 10:07 AM ET
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on October 23, Coca-Cola Co 's Director, Richard M. Daley, invested $36,699.20 into 1,000 shares of KO, for a cost per share of $36.70. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.
In trading on Thursday, bargain hunters could buy shares of Coca-Cola Co (NYSE:KO) and achieve a cost basis even cheaper than Daley, with shares changing hands as low as $36.68 per share. It should be noted that Daley has collected $0.26/share in dividends since the time of their purchase, so they are currently up 0.7% on their purchase from a total return basis. Coca-Cola Co shares are currently trading up about 0.3% on the day. The chart below shows the one year performance of KO shares, versus its 200 day moving average:
Looking at the chart above, KO's low point in its 52 week range is $33.28 per share, with $40.67 as the 52 week high point — that compares with a last trade of $36.92. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
||Richard M. Daley
The current annualized dividend paid by Coca-Cola Co is $1.02/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 11/28/2012. Below is a long-term dividend history chart for KO, which can be of good help in judging whether the most recent dividend with approx. 2.8% annualized yield is likely to continue.
According to the ETF Finder at ETF Channel, KO makes up 11.91% of the Consumer Staples Select Sector SPDR Fund ETF (AMEX:XLP) which is trading up by about 0.3% on the day Thursday.
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