Credit Suisse Group reaffirmed their buy rating on shares of The Coca-Cola (NYSE:KO) in a research report sent to investors on Wednesday morning, Price Targets.com reports. The brokerage currently has a $60.00 target price on the stock.
KO has been the topic of several other research reports. Morgan Stanley increased their price target on shares of The Coca-Cola from $55.00 to $60.00 and gave the stock an overweight rating in a research report on Monday. Evercore ISI raised their target price on shares of The Coca-Cola from $60.00 to $63.00 and gave the stock an outperform rating in a research report on Tuesday. Guggenheim lowered shares of The Coca-Cola from a buy rating to a neutral rating in a research report on Tuesday, January 5th. HSBC lowered their price objective on shares of The Coca-Cola from $61.00 to $58.00 in a research report on Wednesday, January 13th. Finally, Sanford C. Bernstein initiated coverage on shares of The Coca-Cola in a report on Tuesday, January 19th. They issued an outperform rating and a $58.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $56.47.
Shares of The Coca-Cola stock opened at $54.61 on Wednesday. The company has a market capitalization of $235.33 billion, a P/E ratio of 28.44, a P/E/G ratio of 5.70 and a beta of 0.58. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.01 and a current ratio of 1.13. The company has a fifty day moving average of $52.07 and a 200 day moving average of $51.30. The Coca-Cola has a fifty-two week low of $43.20 and a fifty-two week high of $54.93.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 1st. Stockholders of record on Monday, March 15th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Friday, March 12th. This is an increase from The Coca-Cola’s previous quarterly dividend of $0.41. The Coca-Cola’s dividend payout ratio (DPR) is 79.62%.
In other The Coca-Cola news, VP Kathy Loveless sold 501 shares of the firm’s stock in a transaction on Friday, March 19th. The stock was sold at an average price of $50.46, for a total transaction of $25,280.46. Following the transaction, the vice president now directly owns 10,224 shares in the company, valued at approximately $515,903.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nikolaos Koumettis sold 60,000 shares of The Coca-Cola stock in a transaction on Monday, March 29th. The stock was sold at an average price of $53.30, for a total value of $3,198,000.00. Following the sale, the insider now owns 145,011 shares in the company, valued at $7,729,086.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,501 shares of company stock valued at $4,246,280. 1.01% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Grandfield & Dodd LLC raised its holdings in shares of The Coca-Cola by 3.0% during the first quarter. Grandfield & Dodd LLC now owns 45,872 shares of the company’s stock valued at $2,420,000 after purchasing an additional 1,323 shares during the last quarter. Private Advisor Group LLC grew its position in shares of The Coca-Cola by 5.4% during the first quarter. Private Advisor Group LLC now owns 363,311 shares of the company’s stock valued at $19,151,000 after purchasing an additional 18,724 shares in the last quarter. ProVise Management Group LLC grew its position in The Coca-Cola by 0.3% in the first quarter. ProVise Management Group LLC now owns 149,118 shares of the company’s stock worth $7,860,000 after acquiring an additional 520 shares in the last quarter. Tatro Capital LLC grew its position in The Coca-Cola by 4.1% in the first quarter. Tatro Capital LLC now owns 6,284 shares of the company’s stock worth $331,000 after acquiring an additional 250 shares in the last quarter. Finally, Riverbridge Partners LLC boosted its position in shares of The Coca-Cola by 7.4% during the first quarter. Riverbridge Partners LLC now owns 7,847 shares of the company’s stock valued at $414,000 after buying an additional 543 shares during the period. 65.99% of the stock is currently owned by hedge funds and other institutional investors.
The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantÂ-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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