The Coca-Cola (KO) Given a $48.50 Price Target at Morningstar
A number of other equities analysts have also recently commented on KO. Evercore ISI upgraded The Coca-Cola from an in-line rating to an outperform rating and lifted their target price for the stock from $46.04 to $55.00 in a report on Friday, January 12th. Royal Bank of Canada set a $56.00 target price on The Coca-Cola and gave the stock a buy rating in a report on Tuesday, January 2nd. Wells Fargo & Co upgraded The Coca-Cola from a market perform rating to an outperform rating and lifted their target price for the stock from $46.72 to $51.00 in a report on Tuesday, November 14th. Deutsche Bank began coverage on The Coca-Cola in a report on Wednesday, December 13th. They issued a buy rating and a $52.00 target price for the company. Finally, Vetr upgraded The Coca-Cola from a hold rating to a buy rating and set a $47.68 target price for the company in a report on Monday, December 11th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $49.21.
Shares of The Coca-Cola (KO) opened at $43.72 on Wednesday. The stock has a market capitalization of $186,280.00, a P/E ratio of 39.75, a P/E/G ratio of 2.68 and a beta of 0.77. The Coca-Cola has a 12 month low of $41.74 and a 12 month high of $48.62. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.25 and a current ratio of 1.34.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be paid a dividend of $0.39 per share. This is a positive change from The Coca-Cola’s previous quarterly dividend of $0.37. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date is Wednesday, March 14th. The Coca-Cola’s dividend payout ratio (DPR) is currently 134.55%.
In other The Coca-Cola news, insider Robert Edward Long sold 15,000 shares of The Coca-Cola stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $47.95, for a total transaction of $719,250.00. Following the completion of the sale, the insider now directly owns 24,673 shares of the company’s stock, valued at approximately $1,183,070.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ed Hays sold 84,400 shares of The Coca-Cola stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $47.50, for a total value of $4,009,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 122,640 shares of company stock valued at $5,800,776 over the last three months. 1.51% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC raised its position in shares of The Coca-Cola by 1,117.2% in the 2nd quarter. Janus Henderson Group PLC now owns 13,339,286 shares of the company’s stock worth $598,273,000 after acquiring an additional 12,243,387 shares in the last quarter. Capital World Investors raised its position in shares of The Coca-Cola by 8.9% in the 2nd quarter. Capital World Investors now owns 142,047,166 shares of the company’s stock worth $6,370,815,000 after acquiring an additional 11,593,679 shares in the last quarter. Ferox Capital Management LP bought a new position in shares of The Coca-Cola in the 4th quarter worth $8,213,000. Amundi Pioneer Asset Management Inc. raised its position in shares of The Coca-Cola by 1,766.8% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 7,105,608 shares of the company’s stock worth $326,006,000 after acquiring an additional 6,724,982 shares in the last quarter. Finally, Troy Asset Management Ltd bought a new position in shares of The Coca-Cola in the 3rd quarter worth $260,266,000. 65.13% of the stock is owned by institutional investors and hedge funds.
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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