Coca-Cola (NYSE:KO) PT Raised to $72.00 at Argus

Coca-Cola (NYSE:KO) had its price objective increased by Argus from $70.00 to $72.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Argus currently has a buy rating on the stock.

KO has been the topic of several other research reports. Evercore ISI upped their target price on shares of Coca-Cola from $67.00 to $70.00 and gave the company an outperform rating in a research note on Wednesday, May 1st. UBS Group lifted their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a buy rating in a research report on Wednesday, May 1st. Barclays increased their price target on Coca-Cola from $68.00 to $69.00 and gave the company an overweight rating in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an overweight rating in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $68.58.

Coca-Cola Stock Performance

Coca-Cola stock opened at $62.00 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The stock’s 50 day moving average is $61.08 and its 200 day moving average is $59.90. Coca-Cola has a twelve month low of $51.55 and a twelve month high of $63.76. The company has a market capitalization of $267.09 billion, a P/E ratio of 24.80, a PEG ratio of 3.51 and a beta of 0.57.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. Coca-Cola’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 EPS. On average, equities research analysts predict that Coca-Cola will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a yield of 3.13%. Coca-Cola’s payout ratio is presently 77.60%.

Insider Transactions at Coca-Cola

In other news, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of Coca-Cola stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The disclosure for this sale can be found here. Insiders sold a total of 199,389 shares of company stock valued at $12,322,179 over the last 90 days. Company insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Coca-Cola

Several institutional investors have recently made changes to their positions in the company. Tidemark LLC bought a new position in Coca-Cola in the 4th quarter valued at $26,000. ESL Trust Services LLC bought a new stake in Coca-Cola during the 1st quarter valued at $28,000. Redmont Wealth Advisors LLC purchased a new position in shares of Coca-Cola during the first quarter valued at $28,000. Private Wealth Management Group LLC bought a new position in Coca-Cola during the 4th quarter worth about $27,000. Finally, ZRC Wealth Management LLC boosted its stake in shares of Coca-Cola by 213.3% during the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.