Coca-Cola (NYSE:KO) Now Covered by Analysts at Piper Sandler

Piper Sandler began coverage on shares of Coca-Cola (NYSE:KO) in a research report released on Tuesday, Marketbeat reports. The firm issued an overweight rating and a $74.00 price target on the stock.

Other research analysts have also issued reports about the stock. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Truist Financial lifted their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Morgan Stanley lowered their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Wells Fargo & Company cut their price objective on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday, December 2nd. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus target price of $72.27.

Coca-Cola Stock Performance

Shares of NYSE:KO opened at $60.70 on Tuesday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. Coca-Cola has a 1 year low of $57.93 and a 1 year high of $73.53. The firm has a market capitalization of $261.48 billion, a PE ratio of 25.08, a P/E/G ratio of 3.83 and a beta of 0.61. The business’s 50 day moving average price is $63.15 and its 200-day moving average price is $66.55.

Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.74 EPS. As a group, equities research analysts expect that Coca-Cola will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $0.485 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.20%. Coca-Cola’s payout ratio is presently 80.17%.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.97% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Coca-Cola

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in Coca-Cola in the second quarter valued at $27,000. Hara Capital LLC acquired a new stake in Coca-Cola in the 3rd quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola in the 3rd quarter valued at about $36,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Coca-Cola during the third quarter worth about $43,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of Coca-Cola during the third quarter worth about $58,000. Hedge funds and other 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.