Coca-Cola Co. (KO) Earns “Buy” Rating from Citigroup Inc.
Several other equities research analysts also recently commented on the stock. Vetr downgraded shares of Coca-Cola from a strong-buy rating to a buy rating and set a $46.93 price objective for the company. in a research note on Thursday, September 15th. Credit Suisse Group AG assumed coverage on shares of Coca-Cola in a research note on Thursday, September 15th. They set a neutral rating and a $44.00 price objective for the company. Zacks Investment Research upgraded shares of Coca-Cola from a sell rating to a hold rating in a research note on Monday, September 12th. Jefferies Group reiterated a hold rating on shares of Coca-Cola in a research note on Thursday, August 25th. Finally, Susquehanna reiterated a hold rating on shares of Coca-Cola in a research note on Monday, August 22nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $46.75.
Shares of Coca-Cola (NYSE:KO) opened at 42.53 on Monday. The firm has a 50-day moving average price of $43.35 and a 200-day moving average price of $44.73. Coca-Cola has a 52 week low of $38.51 and a 52 week high of $47.13. The stock has a market cap of $183.56 billion, a price-to-earnings ratio of 24.47 and a beta of 0.57.
Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. Coca-Cola had a net margin of 17.61% and a return on equity of 32.78%. The business earned $11.50 billion during the quarter, compared to the consensus estimate of $11.69 billion. During the same period in the previous year, the firm posted $0.63 earnings per share. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, equities analysts anticipate that Coca-Cola will post $1.91 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Tuesday, September 13th. Coca-Cola’s dividend payout ratio is presently 80.46%.
Several large investors have recently made changes to their positions in KO. Franklin Resources Inc. increased its stake in shares of Coca-Cola by 444.7% in the second quarter. Franklin Resources Inc. now owns 7,849,538 shares of the company’s stock worth $355,819,000 after buying an additional 6,408,420 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Coca-Cola by 2.0% in the second quarter. Vanguard Group Inc. now owns 273,897,295 shares of the company’s stock worth $12,415,764,000 after buying an additional 5,478,675 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Coca-Cola during the second quarter worth approximately $233,278,000. Canada Pension Plan Investment Board increased its stake in shares of Coca-Cola by 1,282.8% in the first quarter. Canada Pension Plan Investment Board now owns 4,442,458 shares of the company’s stock worth $206,086,000 after buying an additional 4,121,188 shares in the last quarter. Finally, Janus Capital Management LLC increased its stake in shares of Coca-Cola by 40.9% in the second quarter. Janus Capital Management LLC now owns 13,411,916 shares of the company’s stock worth $607,938,000 after buying an additional 3,891,114 shares in the last quarter. 64.33% of the stock is currently owned by institutional investors.
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets over 500 nonalcoholic beverage brands, primarily sparkling beverages but also a range of still beverages, such as waters, enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks.
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