CocaCola (NYSE:KO) Given New $80.00 Price Target at Bank of America

CocaCola (NYSE:KO) had its target price boosted by Bank of America from $78.00 to $80.00 in a report published on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts also recently issued reports about the company. Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the company an “outperform” rating in a research note on Monday, July 21st. UBS Group lowered their price objective on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. Cowen restated a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. boosted their price target on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company increased their price target on shares of CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $78.43.

CocaCola Stock Performance

NYSE KO traded up $1.55 during trading on Friday, reaching $70.61. The company’s stock had a trading volume of 25,094,061 shares, compared to its average volume of 16,789,504. The business’s fifty day moving average price is $67.75 and its 200-day moving average price is $69.56. CocaCola has a twelve month low of $60.62 and a twelve month high of $74.38. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. The firm has a market cap of $303.75 billion, a price-to-earnings ratio of 23.38, a P/E/G ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO) last announced its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The business had revenue of $11.40 billion during the quarter. As a group, analysts anticipate that CocaCola will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, December 1st. CocaCola’s dividend payout ratio is presently 67.55%.

Insider Transactions at CocaCola

In other news, Director Max R. Levchin acquired 7,206 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was purchased at an average cost of $69.87 per share, with a total value of $503,483.22. Following the purchase, the director directly owned 14,267 shares of the company’s stock, valued at approximately $996,835.29. This trade represents a 102.05% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Monica Howard Douglas sold 13,548 shares of CocaCola stock in a transaction on Friday, October 24th. The stock was sold at an average price of $69.93, for a total value of $947,411.64. Following the transaction, the executive vice president directly owned 37,725 shares of the company’s stock, valued at approximately $2,638,109.25. This represents a 26.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KO. Brighton Jones LLC raised its position in shares of CocaCola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock worth $2,433,000 after purchasing an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC increased its position in CocaCola by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock worth $548,000 after buying an additional 293 shares in the last quarter. Alps Advisors Inc. raised its holdings in shares of CocaCola by 5.4% in the first quarter. Alps Advisors Inc. now owns 115,104 shares of the company’s stock worth $8,244,000 after acquiring an additional 5,904 shares during the last quarter. Phillips Financial Management LLC lifted its position in shares of CocaCola by 6.7% in the first quarter. Phillips Financial Management LLC now owns 4,093 shares of the company’s stock valued at $293,000 after acquiring an additional 256 shares in the last quarter. Finally, Cerity Partners LLC boosted its stake in shares of CocaCola by 12.5% during the first quarter. Cerity Partners LLC now owns 1,037,937 shares of the company’s stock valued at $74,347,000 after acquiring an additional 114,942 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

About CocaCola

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.