Goldman Sachs Group set a $46.00 price target on The Coca-Cola (NYSE:KO) in a research note issued to investors on Tuesday. The brokerage currently has a neutral rating on the stock.
Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. reissued a $45.12 rating and set a $49.00 target price on shares of The Coca-Cola in a research note on Wednesday, July 18th. TheStreet raised The Coca-Cola from a c+ rating to a b- rating in a research note on Tuesday, July 17th. SunTrust Banks boosted their target price on The Coca-Cola to $55.00 and gave the stock a buy rating in a research note on Thursday, July 26th. Royal Bank of Canada set a $56.00 target price on The Coca-Cola and gave the stock a buy rating in a research note on Wednesday, July 25th. Finally, Morningstar set a $49.00 target price on The Coca-Cola and gave the stock a buy rating in a research note on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $51.22.
Shares of The Coca-Cola stock traded down $0.05 during trading on Tuesday, reaching $47.69. The company’s stock had a trading volume of 975,140 shares, compared to its average volume of 14,210,944. The stock has a market cap of $203.19 billion, a PE ratio of 24.95, a PEG ratio of 3.00 and a beta of 0.75. The Coca-Cola has a 52 week low of $41.45 and a 52 week high of $48.62. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.06 and a current ratio of 1.06.
The Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, October 30th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.03. The company had revenue of $8.25 billion during the quarter, compared to analysts’ expectations of $8.20 billion. The Coca-Cola had a net margin of 8.70% and a return on equity of 43.12%. The Coca-Cola’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.50 earnings per share. Equities research analysts predict that The Coca-Cola will post 2.07 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Thursday, November 29th. The Coca-Cola’s dividend payout ratio is currently 81.68%.
In other news, SVP James L. Dinkins sold 8,754 shares of the company’s stock in a transaction that occurred on Wednesday, October 24th. The stock was sold at an average price of $46.95, for a total value of $411,000.30. Following the completion of the transaction, the senior vice president now owns 28,354 shares of the company’s stock, valued at $1,331,220.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.48% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley increased its stake in shares of The Coca-Cola by 3.6% in the second quarter. Morgan Stanley now owns 38,959,393 shares of the company’s stock valued at $1,708,760,000 after buying an additional 1,336,852 shares during the period. Janus Henderson Group PLC boosted its holdings in The Coca-Cola by 1.9% in the second quarter. Janus Henderson Group PLC now owns 15,923,120 shares of the company’s stock valued at $698,396,000 after acquiring an additional 299,933 shares during the last quarter. Swiss National Bank boosted its holdings in The Coca-Cola by 2.8% in the second quarter. Swiss National Bank now owns 15,439,790 shares of the company’s stock valued at $677,189,000 after acquiring an additional 425,900 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in The Coca-Cola by 2.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 14,397,678 shares of the company’s stock valued at $631,483,000 after acquiring an additional 401,752 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in The Coca-Cola by 7.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 13,119,142 shares of the company’s stock valued at $575,406,000 after acquiring an additional 949,483 shares during the last quarter. 65.44% of the stock is owned by institutional investors.
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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