Morgan Stanley restated their buy rating on shares of The Coca-Cola (NYSE:KO) in a research note published on Wednesday morning, AnalystRatings.com reports. The firm currently has a $60.00 price objective on the stock.
Several other brokerages have also weighed in on KO. Atlantic Securities initiated coverage on shares of The Coca-Cola in a report on Monday, July 29th. They set an overweight rating and a $62.00 price objective on the stock. HSBC reiterated a neutral rating and set a $52.00 price objective on shares of The Coca-Cola in a report on Wednesday, July 24th. Barclays set a $54.00 price objective on shares of The Coca-Cola and gave the stock a buy rating in a report on Thursday, May 16th. Zacks Investment Research upgraded shares of The Coca-Cola from a hold rating to a buy rating and set a $52.00 price objective on the stock in a report on Tuesday, June 4th. Finally, Credit Suisse Group increased their price objective on shares of The Coca-Cola from $49.00 to $54.00 and gave the stock a neutral rating in a report on Wednesday, July 24th. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $53.86.
Shares of KO stock traded up $0.30 during trading hours on Wednesday, hitting $52.33. 13,101,092 shares of the company were exchanged, compared to its average volume of 11,344,668. The stock has a market cap of $225.05 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 3.66 and a beta of 0.48. The Coca-Cola has a 1 year low of $44.25 and a 1 year high of $54.82. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.71 and a current ratio of 0.83. The business’s fifty day moving average price is $52.04.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The business had revenue of $10 billion for the quarter, compared to analyst estimates of $9.86 billion. The Coca-Cola had a net margin of 21.11% and a return on equity of 45.67%. The company’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.61 EPS. As a group, equities research analysts predict that The Coca-Cola will post 2.1 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Friday, September 13th. The Coca-Cola’s dividend payout ratio (DPR) is presently 76.92%.
In other The Coca-Cola news, insider James L. Dinkins sold 45,875 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $53.26, for a total value of $2,443,302.50. Following the completion of the sale, the insider now owns 95,101 shares of the company’s stock, valued at $5,065,079.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer K. Mann sold 9,126 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $53.48, for a total transaction of $488,058.48. Following the completion of the sale, the insider now directly owns 41,175 shares of the company’s stock, valued at approximately $2,202,039. The disclosure for this sale can be found here. In the last three months, insiders have sold 369,175 shares of company stock valued at $18,634,452. Corporate insiders own 1.33% of the company’s stock.
A number of large investors have recently modified their holdings of KO. Norges Bank acquired a new stake in The Coca-Cola in the fourth quarter valued at approximately $1,717,527,000. FMR LLC boosted its stake in shares of The Coca-Cola by 22.2% during the 4th quarter. FMR LLC now owns 61,139,629 shares of the company’s stock valued at $2,894,961,000 after buying an additional 11,126,961 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of The Coca-Cola by 10.8% during the 4th quarter. Geode Capital Management LLC now owns 46,561,672 shares of the company’s stock valued at $2,200,726,000 after buying an additional 4,528,987 shares during the last quarter. Avalon Advisors LLC boosted its stake in shares of The Coca-Cola by 203.4% during the 4th quarter. Avalon Advisors LLC now owns 3,018,294 shares of the company’s stock valued at $142,916,000 after buying an additional 2,023,309 shares during the last quarter. Finally, Ronna Sue Cohen boosted its stake in shares of The Coca-Cola by 4,409.4% during the 1st quarter. Ronna Sue Cohen now owns 1,992,242 shares of the company’s stock valued at $1,992,000 after buying an additional 1,948,062 shares during the last quarter. 66.80% of the stock is owned by institutional investors.
About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; 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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