Macquarie Reiterates “$47.00” Price Target for The Coca-Cola (KO)

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Macquarie set a $47.00 target price on The Coca-Cola (NYSE:KO) in a report released on Wednesday morning. The firm currently has a neutral rating on the stock.

KO has been the subject of several other research reports. Barclays reiterated a buy rating and issued a $50.00 price objective on shares of The Coca-Cola in a research note on Friday, October 5th. Zacks Investment Research lowered shares of The Coca-Cola from a hold rating to a sell rating in a research note on Thursday, October 4th. JPMorgan Chase & Co. reiterated a $45.12 rating and issued a $49.00 price objective on shares of The Coca-Cola in a research note on Wednesday, July 18th. Jefferies Financial Group set a $48.00 price objective on shares of The Coca-Cola and gave the company a neutral rating in a research note on Thursday, September 6th. Finally, Morgan Stanley set a $49.00 price objective on shares of The Coca-Cola and gave the company a neutral rating in a research note on Tuesday, September 4th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the stock. The Coca-Cola has a consensus rating of Hold and a consensus target price of $50.74.

NYSE:KO traded up $0.72 on Wednesday, hitting $46.33. The stock had a trading volume of 13,798,090 shares, compared to its average volume of 11,207,880. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.06 and a current ratio of 1.15. The firm has a market cap of $194.57 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 2.87 and a beta of 0.75. The Coca-Cola has a 1 year low of $41.45 and a 1 year high of $48.62.

The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, July 25th. The company reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The firm had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.54 billion. The Coca-Cola had a net margin of 7.18% and a return on equity of 40.68%. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter last year, the business posted $0.59 EPS. As a group, sell-side analysts forecast that The Coca-Cola will post 2.07 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.56 annualized dividend and a dividend yield of 3.37%. The Coca-Cola’s payout ratio is currently 81.68%.

In other The Coca-Cola news, insider John Murphy sold 56,000 shares of the firm’s stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of $46.48, for a total value of $2,602,880.00. Following the completion of the transaction, the insider now directly owns 140,869 shares of the company’s stock, valued at approximately $6,547,591.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Kathy N. Waller sold 48,354 shares of the firm’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $46.45, for a total transaction of $2,246,043.30. Following the completion of the transaction, the vice president now directly owns 200,725 shares of the company’s stock, valued at $9,323,676.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 215,822 shares of company stock valued at $10,027,727. 1.48% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in KO. Ascension Asset Management LLC lifted its holdings in shares of The Coca-Cola by 5.3% during the 2nd quarter. Ascension Asset Management LLC now owns 22,050 shares of the company’s stock worth $967,000 after acquiring an additional 1,100 shares during the last quarter. Jag Capital Management LLC lifted its holdings in shares of The Coca-Cola by 3.3% during the 2nd quarter. Jag Capital Management LLC now owns 34,844 shares of the company’s stock worth $1,528,000 after acquiring an additional 1,116 shares during the last quarter. Bontempo Ohly Capital Mgmt LLC lifted its holdings in shares of The Coca-Cola by 1.7% during the 2nd quarter. Bontempo Ohly Capital Mgmt LLC now owns 70,938 shares of the company’s stock worth $3,111,000 after acquiring an additional 1,172 shares during the last quarter. Accurate Investment Solutions Inc. lifted its holdings in shares of The Coca-Cola by 1.4% during the 3rd quarter. Accurate Investment Solutions Inc. now owns 85,659 shares of the company’s stock worth $3,957,000 after acquiring an additional 1,173 shares during the last quarter. Finally, Somerville Kurt F lifted its holdings in shares of The Coca-Cola by 6.7% during the 3rd quarter. Somerville Kurt F now owns 18,907 shares of the company’s stock worth $874,000 after acquiring an additional 1,180 shares during the last quarter. 65.38% of the stock is owned by hedge funds and other institutional investors.

About The Coca-Cola

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plant?based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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

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