Coca-Cola Co. (KO) Now Covered by Credit Suisse Group AG
Research analysts at Credit Suisse Group AG started coverage on shares of Coca-Cola Co. (NYSE:KO) in a research report issued to clients and investors on Thursday. The brokerage set a “neutral” rating and a $44.00 price target on the stock. Credit Suisse Group AG’s price objective suggests a potential upside of 4.41% from the stock’s previous close.
KO has been the topic of several other research reports. Zacks Investment Research raised Coca-Cola from a “sell” rating to a “hold” rating in a report on Monday, September 12th. Susquehanna reissued a “hold” rating on shares of Coca-Cola in a report on Monday, August 22nd. Jefferies Group restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, August 25th. Vetr upgraded shares of Coca-Cola from a “buy” rating to a “strong-buy” rating and set a $47.52 price target on the stock in a research report on Wednesday, September 14th. Finally, Deutsche Bank AG restated a “buy” rating on shares of Coca-Cola in a research report on Sunday, July 24th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $46.75.
Coca-Cola (NYSE:KO) opened at 42.14 on Thursday. The stock has a market capitalization of $181.88 billion, a price-to-earnings ratio of 24.25 and a beta of 0.57. Coca-Cola has a 12 month low of $38.47 and a 12 month high of $47.13. The company has a 50 day moving average price of $43.60 and a 200 day moving average price of $44.80.
Coca-Cola (NYSE:KO) last announced its earnings results 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 return on equity of 32.78% and a net margin of 17.61%. The firm had revenue of $11.50 billion for the quarter, compared to analysts’ expectations of $11.69 billion. During the same quarter in the previous year, the company earned $0.63 earnings per share. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. Equities research analysts predict that Coca-Cola will post $1.91 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Tuesday, September 13th. Coca-Cola’s dividend payout ratio is 80.46%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KO. MCF Advisors LLC raised its position in Coca-Cola by 10.0% in the second quarter. MCF Advisors LLC now owns 2,208 shares of the company’s stock worth $100,000 after buying an additional 200 shares in the last quarter. Country Trust Bank raised its position in Coca-Cola by 25.0% in the second quarter. Country Trust Bank now owns 2,500 shares of the company’s stock worth $113,000 after buying an additional 500 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in Coca-Cola by 562.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,483 shares of the company’s stock worth $113,000 after buying an additional 2,108 shares in the last quarter. Lenox Wealth Management Inc. raised its position in Coca-Cola by 38.0% in the second quarter. Lenox Wealth Management Inc. now owns 2,611 shares of the company’s stock worth $118,000 after buying an additional 719 shares in the last quarter. Finally, Tradewinds Capital Management LLC raised its position in Coca-Cola by 6.8% in the second quarter. Tradewinds Capital Management LLC now owns 2,744 shares of the company’s stock worth $124,000 after buying an additional 174 shares in the last quarter. 64.42% of the stock is owned by hedge funds and other 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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