Guggenheim initiated coverage on shares of The Coca-Cola (NYSE:KO) in a report published on Thursday morning, The Fly reports. The brokerage issued a buy rating and a $51.00 price objective on the stock.
Several other analysts have also commented on the stock. Jefferies Financial Group set a $48.00 price target on shares of The Coca-Cola and gave the company a neutral rating in a research report on Thursday, September 6th. Wells Fargo & Co reaffirmed a buy rating and issued a $52.00 price objective on shares of The Coca-Cola in a research report on Wednesday, September 5th. Macquarie reaffirmed a neutral rating and issued a $47.00 price objective on shares of The Coca-Cola in a research report on Tuesday, September 4th. Morgan Stanley set a $49.00 price objective on shares of The Coca-Cola and gave the company a neutral rating in a research report on Tuesday, September 4th. Finally, Argus raised shares of The Coca-Cola to a hold rating in a research report on Friday, August 24th. Fourteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $50.31.
KO stock opened at $45.99 on Thursday. The stock has a market cap of $197.26 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 2.85 and a beta of 0.74. The Coca-Cola has a one year low of $41.45 and a one year high of $48.62. The company has a quick ratio of 1.06, a current ratio of 1.15 and a debt-to-equity ratio of 1.39.
The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, July 25th. The company reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The business had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.54 billion. The Coca-Cola had a net margin of 7.18% and a return on equity of 40.68%. The company’s quarterly revenue was down 8.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.59 earnings per share. analysts predict that The Coca-Cola will post 2.07 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 14th will be issued a $0.39 dividend. The ex-dividend date is Thursday, September 13th. This represents a $1.56 annualized dividend and a yield of 3.39%. The Coca-Cola’s dividend payout ratio (DPR) is presently 81.68%.
In related news, insider John Murphy sold 56,000 shares of the stock in a transaction that occurred on Wednesday, July 25th. The shares were sold at an average price of $46.48, for a total value of $2,602,880.00. Following the transaction, the insider now owns 140,869 shares in the company, valued at approximately $6,547,591.12. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Kathy N. Waller sold 48,354 shares of the stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $46.45, for a total transaction of $2,246,043.30. Following the completion of the transaction, the vice president now owns 200,725 shares in the company, valued at approximately $9,323,676.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 215,822 shares of company stock worth $10,027,727. 1.48% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. C WorldWide Group Holding A S grew its stake in shares of The Coca-Cola by 873.0% during the 2nd quarter. C WorldWide Group Holding A S now owns 7,630,919 shares of the company’s stock worth $334,692,000 after purchasing an additional 6,846,641 shares during the period. Charles Schwab Investment Advisory Inc. acquired a new stake in shares of The Coca-Cola during the 2nd quarter worth approximately $206,654,000. BlackRock Inc. grew its stake in shares of The Coca-Cola by 1.9% during the 1st quarter. BlackRock Inc. now owns 246,505,322 shares of the company’s stock worth $10,705,725,000 after purchasing an additional 4,526,566 shares during the period. Natixis grew its stake in shares of The Coca-Cola by 218.3% during the 2nd quarter. Natixis now owns 4,080,146 shares of the company’s stock worth $178,955,000 after purchasing an additional 2,798,257 shares during the period. Finally, Findlay Park Partners LLP grew its stake in shares of The Coca-Cola by 21.9% during the 1st quarter. Findlay Park Partners LLP now owns 10,115,538 shares of the company’s stock worth $439,318,000 after purchasing an additional 1,819,279 shares during the period. Institutional investors own 65.41% of the company’s stock.
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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