The Coca-Cola (NYSE:KO) was upgraded by Goldman Sachs from a “sell” rating to a “neutral” rating in a report released on Tuesday, The Fly reports.
Other equities research analysts have also issued research reports about the stock. Stifel Nicolaus reissued a “hold” rating and issued a $49.00 price target on shares of The Coca-Cola in a report on Friday, December 22nd. JPMorgan Chase reaffirmed a “neutral” rating and issued a target price (up previously from ) on shares of The Coca-Cola in a report on Friday, February 16th. Credit Suisse Group reaffirmed a “buy” rating on shares of The Coca-Cola in a report on Tuesday, February 13th. Jefferies Group reaffirmed a “neutral” rating and issued a $49.00 target price on shares of The Coca-Cola in a report on Tuesday, February 20th. Finally, Susquehanna Bancshares set a $45.00 target price on shares of The Coca-Cola and gave the stock a “hold” rating in a report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $49.21.
Shares of The Coca-Cola stock opened at $44.68 on Tuesday. The firm has a market capitalization of $189,875.45, a price-to-earnings ratio of 23.39, a price-to-earnings-growth ratio of 2.58 and a beta of 0.72. 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 Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Friday, February 16th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The firm had revenue of $7.51 billion for the quarter, compared to analyst estimates of $7.36 billion. The Coca-Cola had a net margin of 3.52% and a return on equity of 38.36%. The business’s revenue for the quarter was down 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 EPS. analysts expect that The Coca-Cola will post 2.09 EPS for the current fiscal year.
In related news, insider Robert Edward Long sold 15,000 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $47.95, for a total transaction of $719,250.00. Following the transaction, the insider now owns 24,673 shares in the company, valued at approximately $1,183,070.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ed Hays sold 84,400 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $47.50, for a total transaction of $4,009,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,283 shares of company stock worth $4,812,985. 1.48% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of KO. Santori & Peters Inc. acquired a new position in The Coca-Cola during the 4th quarter valued at about $127,000. Veritas Investment Management LLP acquired a new position in The Coca-Cola during the 3rd quarter valued at about $135,000. Spectrum Management Group Inc. acquired a new position in The Coca-Cola during the 3rd quarter valued at about $137,000. Legacy Advisors LLC acquired a new position in The Coca-Cola during the 3rd quarter valued at about $139,000. Finally, Goodman Financial Corp acquired a new position in The Coca-Cola during the 4th quarter valued at about $143,000. Institutional investors and hedge funds own 66.07% of the company’s stock.
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About The Coca-Cola
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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