J P Morgan Chase & Co Analysts Give The Coca-Cola (KO) a $48.00 Price Target
The Coca-Cola (NYSE:KO) has been given a $48.00 price objective by investment analysts at J P Morgan Chase & Co in a research report issued on Friday. The firm currently has a “neutral” rating on the stock. J P Morgan Chase & Co’s target price points to a potential upside of 4.28% from the company’s previous close.
A number of other brokerages have also issued reports on KO. Vetr raised The Coca-Cola from a “hold” rating to a “buy” rating and set a $47.68 price target on the stock in a research note on Monday. Cowen reaffirmed a “hold” rating and issued a $42.00 price objective on shares of The Coca-Cola in a research note on Thursday, September 28th. Deutsche Bank started coverage on The Coca-Cola in a report on Wednesday. They set a “buy” rating and a $52.00 target price on the stock. Macquarie began coverage on The Coca-Cola in a report on Friday, September 15th. They set a “neutral” rating and a $47.00 price objective on the stock. Finally, Zacks Investment Research upgraded The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Monday, October 16th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $48.01.
Shares of The Coca-Cola (NYSE:KO) opened at $46.03 on Friday. The firm has a market capitalization of $195,543.31, a P/E ratio of 24.28, a PEG ratio of 3.93 and a beta of 0.70. The Coca-Cola has a fifty-two week low of $40.22 and a fifty-two week high of $47.48. The company has a quick ratio of 1.30, a current ratio of 1.39 and a debt-to-equity ratio of 1.47.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 25th. The company reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The Coca-Cola had a return on equity of 36.21% and a net margin of 12.20%. The business had revenue of $9.08 billion during the quarter, compared to the consensus estimate of $8.73 billion. During the same period in the prior year, the company earned $0.49 earnings per share. The company’s revenue was down 14.6% compared to the same quarter last year. sell-side analysts predict that The Coca-Cola will post 1.9 EPS for the current fiscal year.
In other news, insider J Alexander Douglas, Jr. sold 338,009 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $46.09, for a total value of $15,578,834.81. Following the completion of the sale, the insider now directly owns 320,013 shares in the company, valued at approximately $14,749,399.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.51% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signature Estate & Investment Advisors LLC boosted its position in The Coca-Cola by 5.0% during the first quarter. Signature Estate & Investment Advisors LLC now owns 2,725 shares of the company’s stock valued at $116,000 after acquiring an additional 129 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in The Coca-Cola by 59.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 2,754 shares of the company’s stock worth $124,000 after buying an additional 1,026 shares during the period. Veritas Investment Management LLP bought a new position in The Coca-Cola in the 3rd quarter worth approximately $135,000. Spectrum Management Group Inc. purchased a new stake in shares of The Coca-Cola during the 3rd quarter valued at $137,000. Finally, Eagle Ridge Investment Management purchased a new stake in shares of The Coca-Cola during the 2nd quarter valued at $138,000. Institutional investors own 65.38% of the company’s stock.
About The Coca-Cola
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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