The Coca-Cola Co (NYSE:KO) has been assigned an average recommendation of “Buy” from the twenty-two research firms that are covering the company, Marketbeat reports. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $54.10.
Several equities analysts recently commented on the company. ValuEngine upgraded The Coca-Cola from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Zacks Investment Research upgraded The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Tuesday, June 4th. Deutsche Bank raised their target price on The Coca-Cola from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. SunTrust Banks lifted their price objective on The Coca-Cola to $60.00 and gave the company a “positive” rating in a research report on Wednesday, July 24th. Finally, Bank of America reiterated a “buy” rating and issued a $60.00 price objective (up previously from $55.00) on shares of The Coca-Cola in a research report on Wednesday, July 24th.
In other news, insider James L. Dinkins sold 45,875 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $53.26, for a total transaction of $2,443,302.50. Following the completion of the sale, the insider now owns 95,101 shares in the company, valued at $5,065,079.26. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Francisco Crespo sold 125,948 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $50.00, for a total value of $6,297,400.00. Following the sale, the insider now owns 186,631 shares of the company’s stock, valued at approximately $9,331,550. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 332,855 shares of company stock valued at $16,879,778. 1.33% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. HBK Sorce Advisory LLC grew its stake in shares of The Coca-Cola by 57.0% during the second quarter. HBK Sorce Advisory LLC now owns 86,222 shares of the company’s stock worth $3,908,000 after purchasing an additional 31,295 shares during the period. Marshall Wace North America L.P. grew its stake in shares of The Coca-Cola by 6,786.5% during the second quarter. Marshall Wace North America L.P. now owns 1,598,775 shares of the company’s stock worth $81,410,000 after purchasing an additional 1,575,559 shares during the period. Rock Creek Group LP grew its stake in shares of The Coca-Cola by 7.9% during the second quarter. Rock Creek Group LP now owns 33,872 shares of the company’s stock worth $1,725,000 after purchasing an additional 2,488 shares during the period. Balyasny Asset Management LLC grew its stake in shares of The Coca-Cola by 24.8% during the second quarter. Balyasny Asset Management LLC now owns 1,230,103 shares of the company’s stock worth $62,637,000 after purchasing an additional 244,825 shares during the period. Finally, Assetmark Inc. grew its stake in shares of The Coca-Cola by 21.8% during the second quarter. Assetmark Inc. now owns 14,227 shares of the company’s stock worth $725,000 after purchasing an additional 2,549 shares during the period. Institutional investors own 66.69% of the company’s stock.
Shares of The Coca-Cola stock traded down $0.12 during midday trading on Wednesday, hitting $53.38. 9,486,040 shares of the company were exchanged, compared to its average volume of 14,018,581. 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 company has a market capitalization of $228.43 billion, a price-to-earnings ratio of 25.66, a P/E/G ratio of 3.71 and a beta of 0.48. The Coca-Cola has a 52 week low of $44.25 and a 52 week high of $54.82. The firm has a 50 day simple moving average of $52.39.
The Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 23rd. The company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The business had revenue of $10 billion during the quarter, compared to the consensus estimate of $9.86 billion. The Coca-Cola had a return on equity of 45.67% and a net margin of 21.11%. The Coca-Cola’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $0.61 EPS. As a group, sell-side analysts anticipate that The Coca-Cola will post 2.1 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, September 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.00%. The Coca-Cola’s payout ratio is currently 76.92%.
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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