The Coca-Cola (NYSE:KO)‘s stock had its “neutral” rating reiterated by Macquarie in a research report issued to clients and investors on Tuesday. They currently have a $50.00 price target on the stock. Macquarie’s price objective suggests a potential upside of 0.85% from the company’s current price.
Several other research analysts have also recently issued reports on KO. Citigroup set a $56.00 price objective on The Coca-Cola and gave the stock a “buy” rating in a research report on Friday, November 9th. Morgan Stanley set a $50.00 price objective on The Coca-Cola and gave the stock a “neutral” rating in a research report on Monday, October 15th. Morningstar set a $49.00 price objective on The Coca-Cola and gave the stock a “neutral” rating in a research report on Tuesday, November 6th. Wells Fargo & Co reaffirmed a “buy” rating and set a $52.00 price objective on shares of The Coca-Cola in a research report on Wednesday, September 5th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $48.00 price objective on shares of The Coca-Cola in a research report on Friday, August 31st. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $51.43.
KO opened at $49.58 on Tuesday. The Coca-Cola has a 12 month low of $41.45 and a 12 month high of $50.84. The firm has a market cap of $215.00 billion, a P/E ratio of 25.96, a P/E/G ratio of 3.25 and a beta of 0.61. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 1.26.
The Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, October 30th. The company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.03. The Coca-Cola had a return on equity of 43.12% and a net margin of 8.70%. The firm had revenue of $8.25 billion during the quarter, compared to analysts’ expectations of $8.20 billion. During the same period in the previous year, the firm posted $0.50 EPS. The Coca-Cola’s revenue for the quarter was down 9.2% on a year-over-year basis. As a group, research analysts forecast that The Coca-Cola will post 2.08 EPS for the current fiscal year.
In related news, SVP James L. Dinkins sold 8,754 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now directly owns 28,354 shares of the company’s stock, valued at approximately $1,331,220.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Robert Edward Long sold 15,000 shares of the company’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $48.65, for a total value of $729,750.00. Following the completion of the sale, the insider now directly owns 68,029 shares of the company’s stock, valued at $3,309,610.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 374,542 shares of company stock valued at $18,436,957. Insiders own 1.48% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in KO. Capital International Investors boosted its position in shares of The Coca-Cola by 81.9% in the 3rd quarter. Capital International Investors now owns 63,196,570 shares of the company’s stock valued at $2,919,050,000 after purchasing an additional 28,445,747 shares during the period. C WorldWide Group Holding A S boosted its position in shares of The Coca-Cola by 873.0% in the 2nd quarter. C WorldWide Group Holding A S now owns 7,630,919 shares of the company’s stock valued at $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 in the 2nd quarter valued at about $206,654,000. Vanguard Group Inc. boosted its position in shares of The Coca-Cola by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 289,055,893 shares of the company’s stock valued at $13,351,492,000 after purchasing an additional 3,918,108 shares during the period. Finally, Natixis boosted its position in shares of The Coca-Cola by 218.3% in the 2nd quarter. Natixis now owns 4,080,146 shares of the company’s stock valued at $178,955,000 after purchasing an additional 2,798,257 shares during the period. 65.67% of the stock is owned by hedge funds and other institutional investors.
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 plantbased 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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