Coca-Cola Company (The) (NYSE:KO) had its price objective cut by BMO Capital Markets from $47.00 to $46.00 in a research note published on Monday morning. They currently have a market perform rating on the stock.
KO has been the subject of several other reports. Zacks Investment Research downgraded Coca-Cola Company (The) from a buy rating to a hold rating in a research note on Wednesday, April 26th. Credit Suisse Group raised Coca-Cola Company (The) from a neutral rating to an outperform rating and raised their price objective for the company from $44.00 to $49.00 in a research note on Wednesday, April 19th. Deutsche Bank AG reaffirmed a hold rating and issued a $46.00 price objective (up from $44.00) on shares of Coca-Cola Company (The) in a research note on Thursday, July 27th. Sanford C. Bernstein reaffirmed a buy rating and issued a $48.00 price objective on shares of Coca-Cola Company (The) in a research note on Monday, April 10th. Finally, Vetr raised Coca-Cola Company (The) from a hold rating to a buy rating and set a $44.81 price objective for the company in a research note on Monday, May 1st. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $45.62.
Coca-Cola Company (NYSE KO) traded down 0.405% during mid-day trading on Monday, hitting $45.485. The stock had a trading volume of 5,947,720 shares. Coca-Cola Company has a 12-month low of $39.88 and a 12-month high of $46.43. The stock has a 50-day moving average price of $45.06 and a 200 day moving average price of $43.37. The firm has a market cap of $194.01 billion, a P/E ratio of 48.031 and a beta of 0.69.
Coca-Cola Company (The) (NYSE:KO) last issued its earnings results on Wednesday, July 26th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $9.70 billion during the quarter, compared to the consensus estimate of $9.62 billion. Coca-Cola Company (The) had a return on equity of 34.53% and a net margin of 10.68%. The company’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 EPS. Equities analysts anticipate that Coca-Cola Company will post $1.90 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Thursday, September 14th. Coca-Cola Company (The)’s dividend payout ratio (DPR) is presently 154.17%.
In other news, SVP Beatriz R. Perez sold 10,000 shares of Coca-Cola Company (The) stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $46.00, for a total transaction of $460,000.00. Following the sale, the senior vice president now directly owns 98,718 shares of the company’s stock, valued at $4,541,028. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian John Smith sold 87,800 shares of Coca-Cola Company (The) stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $43.43, for a total value of $3,813,154.00. Following the sale, the insider now directly owns 149,185 shares in the company, valued at $6,479,104.55. The disclosure for this sale can be found here. Insiders sold 693,822 shares of company stock worth $31,311,106 over the last three months. 1.51% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. State Street Corp raised its stake in shares of Coca-Cola Company (The) by 1.2% in the first quarter. State Street Corp now owns 173,789,519 shares of the company’s stock worth $7,375,663,000 after buying an additional 2,009,675 shares during the last quarter. Norges Bank acquired a new stake in shares of Coca-Cola Company (The) during the fourth quarter worth about $1,486,731,000. Franklin Resources Inc. raised its stake in shares of Coca-Cola Company (The) by 3.3% in the fourth quarter. Franklin Resources Inc. now owns 30,176,115 shares of the company’s stock worth $1,251,102,000 after buying an additional 951,209 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Coca-Cola Company (The) by 4.0% in the first quarter. Legal & General Group Plc now owns 20,535,490 shares of the company’s stock worth $871,552,000 after buying an additional 789,178 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Coca-Cola Company (The) by 2.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 18,219,699 shares of the company’s stock worth $817,154,000 after buying an additional 481,607 shares during the last quarter. 63.76% of the stock is currently owned by institutional investors and hedge funds.
About Coca-Cola Company (The)
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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