Barclays reissued their neutral rating on shares of The Coca-Cola (NYSE:KO) in a research note issued to investors on Thursday, March 15th. They currently have a $45.00 price objective on the stock.
Other analysts also recently issued reports about the stock. Susquehanna Bancshares set a $41.00 price objective on shares of The Coca-Cola and gave the company a hold rating in a research report on Wednesday, November 15th. Goldman Sachs set a $45.00 price objective on shares of The Coca-Cola and gave the company a sell rating in a research report on Wednesday, November 15th. JPMorgan Chase set a $49.00 price target on shares of The Coca-Cola and gave the stock a neutral rating in a research report on Thursday, November 16th. Wells Fargo raised shares of The Coca-Cola from a hold rating to an outperform rating and upped their price target for the stock from $45.00 to $51.00 in a research report on Sunday, November 26th. Finally, TheStreet cut shares of The Coca-Cola from a b rating to a c+ rating in a research report on Thursday, November 30th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. The Coca-Cola presently has a consensus rating of Hold and a consensus price target of $49.21.
NYSE:KO traded down $0.48 during midday trading on Thursday, hitting $43.92. The company had a trading volume of 11,495,075 shares, compared to its average volume of 12,834,890. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.25 and a current ratio of 1.34. The Coca-Cola has a 52-week low of $42.19 and a 52-week high of $48.62. The firm has a market capitalization of $187,358.58, a PE ratio of 22.99, a price-to-earnings-growth ratio of 2.55 and a beta of 0.72.
The Coca-Cola (NYSE:KO) last posted its earnings results on Friday, February 16th. The company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01. The Coca-Cola had a net margin of 3.52% and a return on equity of 38.36%. The company had revenue of $7.51 billion during the quarter, compared to analyst estimates of $7.36 billion. During the same period in the prior year, the business posted $0.37 earnings per share. The Coca-Cola’s revenue for the quarter was down 20.2% on a year-over-year basis. sell-side analysts forecast that The Coca-Cola will post 2.09 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.55%. This is a positive change from The Coca-Cola’s previous quarterly dividend of $0.37. The ex-dividend date was Wednesday, March 14th. The Coca-Cola’s dividend payout ratio is 81.68%.
In related news, insider Robert Edward Long sold 15,000 shares of the stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $47.95, for a total transaction of $719,250.00. Following the completion of the sale, the insider now owns 24,673 shares of the company’s stock, valued at approximately $1,183,070.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer K. Mann sold 1,883 shares of the stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $45.00, for a total transaction of $84,735.00. Following the sale, the insider now directly owns 98,995 shares of the company’s stock, valued at approximately $4,454,775. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 124,523 shares of company stock valued at $5,885,511. Corporate insiders own 1.48% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC raised its stake in shares of The Coca-Cola by 1,117.2% in the 2nd quarter. Janus Henderson Group PLC now owns 13,339,286 shares of the company’s stock valued at $598,273,000 after acquiring an additional 12,243,387 shares in the last quarter. Capital World Investors grew its holdings in shares of The Coca-Cola by 8.9% during the 2nd quarter. Capital World Investors now owns 142,047,166 shares of the company’s stock worth $6,370,815,000 after purchasing an additional 11,593,679 shares in the last quarter. Ferox Capital Management LP acquired a new stake in shares of The Coca-Cola during the 4th quarter worth approximately $8,213,000. Amundi Pioneer Asset Management Inc. grew its holdings in shares of The Coca-Cola by 1,766.8% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 7,105,608 shares of the company’s stock worth $326,006,000 after purchasing an additional 6,724,982 shares in the last quarter. Finally, Troy Asset Management Ltd acquired a new stake in shares of The Coca-Cola during the 3rd quarter worth approximately $260,266,000. Hedge funds and other institutional investors own 66.15% of the company’s stock.
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The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plant?based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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