Coca-Cola Company (The) (KO) Stock Rating Reaffirmed by Bank of America Corporation

Bank of America Corporation reiterated their buy rating on shares of Coca-Cola Company (The) (NYSE:KO) in a research note issued to investors on Monday. They currently have a $52.00 target price on the stock, up from their previous target price of $50.00.

A number of other equities analysts have also weighed in on the company. Sanford C. Bernstein set a $49.00 price target on Coca-Cola Company (The) and gave the company a buy rating in a research report on Tuesday, July 11th. Vetr upgraded Coca-Cola Company (The) from a sell rating to a strong-buy rating in a research report on Tuesday, September 12th. Daiwa Capital Markets initiated coverage on Coca-Cola Company (The) in a research report on Tuesday, June 13th. They issued an outperform rating and a $48.60 price target for the company. Royal Bank Of Canada reiterated a buy rating and issued a $49.00 price target on shares of Coca-Cola Company (The) in a research report on Wednesday, September 6th. Finally, BidaskClub lowered Coca-Cola Company (The) from a buy rating to a hold rating in a research report on Saturday, July 1st. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $46.39.

Coca-Cola Company (NYSE:KO) opened at 46.11 on Monday. The company has a 50-day moving average of $45.71 and a 200 day moving average of $44.80. Coca-Cola Company has a 52 week low of $39.88 and a 52 week high of $46.98. The firm has a market cap of $196.67 billion, a P/E ratio of 48.69 and a beta of 0.70.

Coca-Cola Company (The) (NYSE:KO) last released its quarterly earnings results on Wednesday, July 26th. The company reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.02. Coca-Cola Company (The) had a return on equity of 34.53% and a net margin of 10.68%. The business had revenue of $9.70 billion during the quarter, compared to analyst estimates of $9.62 billion. During the same quarter last year, the company posted $0.60 EPS. Coca-Cola Company (The)’s revenue for the quarter was down 15.9% on a year-over-year basis. On average, equities analysts predict that Coca-Cola Company will post $1.90 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend was Thursday, September 14th. Coca-Cola Company (The)’s dividend payout ratio (DPR) is presently 154.17%.

In other news, insider J Alexander Douglas, Jr. sold 180,738 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $45.99, for a total transaction of $8,312,140.62. Following the completion of the sale, the insider now directly owns 315,606 shares of the company’s stock, valued at approximately $14,514,719.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Edward Long sold 26,470 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $45.88, for a total value of $1,214,443.60. Following the sale, the insider now directly owns 45,393 shares of the company’s stock, valued at $2,082,630.84. The disclosure for this sale can be found here. Insiders have sold a total of 366,835 shares of company stock valued at $16,874,246 over the last ninety days. Company insiders own 1.51% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Coca-Cola Company (The) by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 275,221,018 shares of the company’s stock valued at $12,343,662,000 after acquiring an additional 4,818,963 shares in the last quarter. BlackRock Inc. raised its stake in shares of Coca-Cola Company (The) by 0.3% in the 2nd quarter. BlackRock Inc. now owns 241,677,773 shares of the company’s stock valued at $10,839,247,000 after acquiring an additional 750,257 shares in the last quarter. State Street Corp raised its stake in shares of Coca-Cola Company (The) by 1.2% in the 1st quarter. State Street Corp now owns 173,789,519 shares of the company’s stock valued at $7,375,663,000 after acquiring an additional 2,009,675 shares in the last quarter. Capital World Investors raised its stake in shares of Coca-Cola Company (The) by 8.9% in the 2nd quarter. Capital World Investors now owns 142,047,166 shares of the company’s stock valued at $6,370,815,000 after acquiring an additional 11,593,679 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Coca-Cola Company (The) by 4.5% in the 2nd quarter. Northern Trust Corp now owns 50,761,341 shares of the company’s stock valued at $2,276,647,000 after acquiring an additional 2,167,225 shares in the last quarter. 64.62% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Company (The) Company Profile

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.

Analyst Recommendations for Coca-Cola Company (The) (NYSE:KO)

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