The Coca-Cola (NYSE:KO) had its target price raised by Morgan Stanley from $50.00 to $51.00 in a report released on Wednesday morning. Morgan Stanley currently has a hold rating on the stock.
Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. restated a $45.12 rating and set a $49.00 price target on shares of The Coca-Cola in a report on Wednesday, July 18th. TheStreet upgraded shares of The Coca-Cola from a c+ rating to a b- rating in a report on Tuesday, July 17th. Morningstar set a $49.00 price target on shares of The Coca-Cola and gave the stock a buy rating in a report on Wednesday, August 8th. SunTrust Banks boosted their price target on shares of The Coca-Cola to $55.00 and gave the stock a buy rating in a report on Thursday, July 26th. Finally, Royal Bank of Canada set a $56.00 price target on shares of The Coca-Cola and gave the stock a buy rating in a report on Wednesday, July 25th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the company’s stock. The Coca-Cola presently has a consensus rating of Hold and a consensus target price of $51.22.
Shares of NYSE KO traded up $0.26 during mid-day trading on Wednesday, reaching $48.00. 16,993,163 shares of the company’s stock traded hands, compared to its average volume of 15,294,904. The stock has a market capitalization of $204.76 billion, a P/E ratio of 25.13, a P/E/G ratio of 3.15 and a beta of 0.60. The Coca-Cola has a 1-year low of $41.45 and a 1-year high of $48.62. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.06 and a quick ratio of 1.06.
The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, October 30th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.03. The Coca-Cola had a net margin of 8.70% and a return on equity of 43.12%. The business had revenue of $8.25 billion for the quarter, compared to analysts’ expectations of $8.20 billion. During the same period in the previous year, the company earned $0.50 earnings per share. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. As a group, equities research analysts anticipate that The Coca-Cola will post 2.08 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Thursday, November 29th. The Coca-Cola’s dividend payout ratio is 81.68%.
In other The Coca-Cola news, SVP Beatriz R. Perez sold 10,000 shares of The Coca-Cola stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $47.98, for a total value of $479,800.00. Following the sale, the senior vice president now owns 92,645 shares of the company’s stock, valued at $4,445,107.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP James L. Dinkins sold 8,754 shares of The Coca-Cola stock in a transaction dated Wednesday, October 24th. The stock was sold at an average price of $46.95, for a total transaction of $411,000.30. Following the completion of the sale, the senior vice president now directly owns 28,354 shares in the company, valued at approximately $1,331,220.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,754 shares of company stock worth $2,954,800. Insiders own 1.48% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Morgan Stanley raised its position 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 purchasing an additional 1,336,852 shares during the period. Janus Henderson Group PLC grew its stake in The Coca-Cola by 1.9% during 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 in the last quarter. Swiss National Bank grew its stake in The Coca-Cola by 2.8% during 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 in the last quarter. Schwab Charles Investment Management Inc. grew its stake in The Coca-Cola by 2.9% during 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 in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in The Coca-Cola by 7.8% during 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 in the last quarter. 65.44% of the stock is currently owned by institutional investors and hedge funds.
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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