Coca-Cola (NYSE:KO) Lowered to Hold at StockNews.com

StockNews.com lowered shares of Coca-Cola (NYSE:KOFree Report) from a buy rating to a hold rating in a research report released on Thursday morning.

A number of other equities analysts also recently weighed in on KO. Barclays upped their target price on Coca-Cola from $68.00 to $69.00 and gave the company an overweight rating in a report on Thursday, May 2nd. Argus upped their target price on Coca-Cola from $70.00 to $72.00 and gave the company a buy rating in a report on Wednesday, May 22nd. Evercore ISI upped their target price on Coca-Cola from $67.00 to $70.00 and gave the company an outperform rating in a report on Wednesday, May 1st. UBS Group upped their target price on Coca-Cola from $70.00 to $72.00 and gave the company a buy rating in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. upped their target price on Coca-Cola from $65.00 to $68.00 and gave the company an overweight rating in a report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $68.58.

View Our Latest Analysis on Coca-Cola

Coca-Cola Price Performance

NYSE KO opened at $64.14 on Thursday. The stock’s 50-day moving average price is $61.48 and its two-hundred day moving average price is $60.24. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The company has a market cap of $276.31 billion, a PE ratio of 25.66, a PEG ratio of 3.61 and a beta of 0.59. Coca-Cola has a 1 year low of $51.55 and a 1 year high of $64.36.

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

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $0.485 per share. 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 3.02%. Coca-Cola’s payout ratio is currently 77.60%.

Insiders Place Their Bets

In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Henrique Braun sold 57,298 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $63.08, for a total value of $3,614,357.84. Following the completion of the sale, the executive vice president now directly owns 52,466 shares of the company’s stock, valued at $3,309,555.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 57,368 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The disclosure for this sale can be found here. Insiders sold 180,838 shares of company stock valued at $11,220,064 over the last 90 days. 0.97% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coca-Cola

Hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in shares of Coca-Cola in the fourth quarter valued at $2,808,056,000. Price T Rowe Associates Inc. MD raised its stake in shares of Coca-Cola by 21.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after purchasing an additional 8,733,326 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Coca-Cola by 11,138.6% in the fourth quarter. Fisher Asset Management LLC now owns 4,977,819 shares of the company’s stock valued at $293,343,000 after purchasing an additional 4,933,527 shares in the last quarter. Pathstone Holdings LLC acquired a new position in shares of Coca-Cola in the fourth quarter valued at $193,342,000. Finally, Putnam Investments LLC raised its stake in shares of Coca-Cola by 32.8% in the fourth quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock valued at $709,051,000 after purchasing an additional 2,973,234 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

About Coca-Cola

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Coca-Cola (NYSE:KO)

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