Vetr upgraded shares of Coca-Cola Company (The) (NYSE:KO) from a sell rating to a hold rating in a report issued on Monday, July 10th. The firm currently has $43.06 price target on the stock.
Several other equities research analysts have also issued reports on KO. Barclays PLC set a $43.00 target price on Coca-Cola Company (The) and gave the company a neutral rating in a research report on Monday, March 13th. Jefferies Group LLC set a $42.00 target price on Coca-Cola Company (The) and gave the company a hold rating in a research report on Tuesday, March 14th. J P Morgan Chase & Co initiated coverage on Coca-Cola Company (The) in a report on Tuesday, March 21st. They issued a neutral rating and a $43.00 price objective for the company. BMO Capital Markets reissued a buy rating and issued a $45.00 price objective on shares of Coca-Cola Company (The) in a report on Wednesday, March 22nd. Finally, Susquehanna Bancshares Inc set a $38.00 price objective on Coca-Cola Company (The) and gave the stock a hold rating in a report on Saturday, March 25th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $45.62.
Shares of Coca-Cola Company (KO) traded down 0.07% on Monday, hitting $45.61. 3,917,454 shares of the stock traded hands. The firm’s 50 day moving average is $45.06 and its 200 day moving average is $43.37. Coca-Cola Company has a 52 week low of $39.88 and a 52 week high of $46.42. The firm has a market capitalization of $194.54 billion, a PE ratio of 48.16 and a beta of 0.69.
Coca-Cola Company (The) (NYSE:KO) last announced its earnings results on Wednesday, July 26th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. Coca-Cola Company (The) had a return on equity of 34.53% and a net margin of 10.68%. The firm had revenue of $9.70 billion during the quarter, compared to analyst estimates of $9.62 billion. During the same period last year, the firm posted $0.60 EPS. The business’s revenue was down 15.9% compared to the same quarter last year. On average, analysts expect that Coca-Cola Company will post $1.90 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.24%. The ex-dividend date is Thursday, September 14th. Coca-Cola Company (The)’s dividend payout ratio (DPR) is 154.17%.
In other news, insider J Alexander Douglas, Jr. sold 180,738 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $45.99, for a total transaction of $8,312,140.62. Following the transaction, the insider now directly owns 315,606 shares of the company’s stock, valued at $14,514,719.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brian John Smith sold 87,800 shares of the company’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $43.43, for a total value of $3,813,154.00. Following the transaction, the insider now directly owns 149,185 shares in the company, valued at $6,479,104.55. The disclosure for this sale can be found here. Insiders sold 693,822 shares of company stock worth $31,311,106 over the last three months. Corporate insiders own 1.51% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in KO. State Street Corp boosted its stake in Coca-Cola Company (The) by 1.2% in the first quarter. State Street Corp now owns 173,789,519 shares of the company’s stock worth $7,375,663,000 after buying an additional 2,009,675 shares during the period. Norges Bank purchased a new stake in Coca-Cola Company (The) during the fourth quarter worth approximately $1,486,731,000. Franklin Resources Inc. boosted its stake in Coca-Cola Company (The) by 3.3% in the fourth quarter. Franklin Resources Inc. now owns 30,176,115 shares of the company’s stock worth $1,251,102,000 after buying an additional 951,209 shares during the period. Legal & General Group Plc boosted its stake in Coca-Cola Company (The) by 4.0% in the first quarter. Legal & General Group Plc now owns 20,535,490 shares of the company’s stock worth $871,552,000 after buying an additional 789,178 shares during the period. Finally, Federated Investors Inc. PA boosted its stake in Coca-Cola Company (The) by 14.6% in the second quarter. Federated Investors Inc. PA now owns 19,202,172 shares of the company’s stock worth $861,217,000 after buying an additional 2,440,395 shares during the period. 63.68% of the stock is currently owned by hedge funds and other institutional investors.
About Coca-Cola Company (The)
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
To view Vetr’s full report, visit Vetr’s official website.
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