The Coca-Cola Company (NYSE:KO) Receives $70.00 Average PT from Brokerages

Shares of The Coca-Cola Company (NYSE:KO) have been given a consensus rating of “Moderate Buy” by the eleven research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $70.00.

A number of brokerages recently weighed in on KO. JPMorgan Chase & Co. raised their price target on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday. UBS Group raised their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Bank of America raised their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday. StockNews.com raised shares of Coca-Cola from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Barclays raised their price target on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd.

Insider Activity at Coca-Cola

In related news, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the sale, the insider now directly owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the sale, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the sale, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 822,284 shares of company stock valued at $567,718,040. 0.97% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coca-Cola

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Patrick M Sweeney & Associates Inc. acquired a new position in Coca-Cola in the 4th quarter valued at about $410,000. Beacon Pointe Advisors LLC grew its position in shares of Coca-Cola by 24.7% during the 4th quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock worth $26,549,000 after purchasing an additional 89,139 shares in the last quarter. Birchcreek Wealth Management LLC lifted its holdings in shares of Coca-Cola by 12.6% during the 4th quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock worth $267,000 after acquiring an additional 507 shares during the period. Smart Money Group LLC lifted its holdings in shares of Coca-Cola by 21.6% during the 4th quarter. Smart Money Group LLC now owns 4,932 shares of the company’s stock worth $291,000 after acquiring an additional 877 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its holdings in shares of Coca-Cola by 3.2% during the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 46,470 shares of the company’s stock worth $2,738,000 after acquiring an additional 1,455 shares during the period. 70.26% of the stock is owned by institutional investors.

Coca-Cola Stock Performance

NYSE:KO opened at $63.70 on Thursday. Coca-Cola has a 1 year low of $51.55 and a 1 year high of $64.36. The firm has a 50 day moving average of $63.04 and a 200-day moving average of $61.10. 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 stock has a market capitalization of $274.42 billion, a P/E ratio of 25.48, a price-to-earnings-growth ratio of 3.56 and a beta of 0.59.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The company had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. Coca-Cola’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Coca-Cola will post 2.82 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were given a $0.485 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.94 annualized dividend and a yield of 3.05%. Coca-Cola’s dividend payout ratio is currently 77.60%.

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.