Coca-Cola Co. (KO) Rating Lowered to Buy at Vetr Inc.
Coca-Cola Co. (NYSE:KO) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday. They presently have a $46.93 target price on the stock. Vetr‘s price target indicates a potential upside of 11.37% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the company. Susquehanna restated a “hold” rating on shares of Coca-Cola in a research note on Sunday, July 17th. Zacks Investment Research upgraded Coca-Cola from a “sell” rating to a “hold” rating in a research note on Friday, July 8th. Sanford C. Bernstein set a $49.00 price objective on Coca-Cola and gave the stock a “buy” rating in a research note on Thursday, July 28th. Goldman Sachs Group Inc. set a $45.00 price objective on Coca-Cola and gave the stock a “neutral” rating in a research note on Thursday, July 28th. Finally, Jefferies Group restated a “hold” rating on shares of Coca-Cola in a research note on Thursday, August 25th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the company. Coca-Cola presently has a consensus rating of “Hold” and a consensus price target of $46.75.
Shares of Coca-Cola (NYSE:KO) opened at 42.14 on Thursday. The company has a market capitalization of $181.88 billion, a P/E ratio of 24.25 and a beta of 0.57. The firm’s 50 day moving average price is $43.60 and its 200-day moving average price is $44.80. Coca-Cola has a 1-year low of $38.47 and a 1-year high of $47.13.
Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Coca-Cola had a return on equity of 32.78% and a net margin of 17.61%. The business had revenue of $11.50 billion for the quarter, compared to the consensus estimate of $11.69 billion. During the same quarter in the prior year, the company earned $0.63 EPS. The business’s revenue was down 5.1% compared to the same quarter last year. Analysts expect that Coca-Cola will post $1.91 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.32%. The ex-dividend date is Tuesday, September 13th. Coca-Cola’s payout ratio is currently 80.46%.
Hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Coca-Cola during the fourth quarter valued at approximately $1,503,620,000. Franklin Resources Inc. increased its position in Coca-Cola by 444.7% in the second quarter. Franklin Resources Inc. now owns 7,849,538 shares of the company’s stock valued at $355,819,000 after buying an additional 6,408,420 shares during the period. Vanguard Group Inc. increased its position in Coca-Cola by 2.0% in the second quarter. Vanguard Group Inc. now owns 273,897,295 shares of the company’s stock valued at $12,415,764,000 after buying an additional 5,478,675 shares during the period. Emerald Acquisition Ltd. purchased a new position in Coca-Cola during the second quarter valued at $233,278,000. Finally, Canada Pension Plan Investment Board increased its position in 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 valued at $206,086,000 after buying an additional 4,121,188 shares during the period. 64.42% of the stock is currently owned by institutional investors.
Coca-Cola Company Profile
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.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for Coca-Cola Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coca-Cola Co. and related companies with Analyst Ratings Network's FREE daily email newsletter.