Coca-Cola (NYSE:KO) Earns Hold Rating from Cfra

Cfra reaffirmed their hold rating on shares of Coca-Cola (NYSE:KO) in a research note released on Thursday, Benzinga reports.

Several other analysts have also issued reports on the company. Wells Fargo & Company boosted their target price on Coca-Cola from $70.00 to $73.00 and gave the company an overweight rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. boosted their target price on Coca-Cola from $68.00 to $72.00 and gave the company an overweight rating in a research note on Wednesday, July 10th. TD Cowen boosted their target price on Coca-Cola from $65.00 to $70.00 and gave the company a hold rating in a research note on Thursday, July 25th. StockNews.com lowered Coca-Cola from a buy rating to a hold rating in a research note on Friday, July 19th. Finally, Truist Financial boosted their target price on Coca-Cola from $65.00 to $70.00 and gave the company a buy rating in a research note on Thursday, July 25th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $70.73.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $71.14 on Thursday. The business’s fifty day simple moving average is $67.48 and its 200 day simple moving average is $63.56. The firm has a market capitalization of $306.47 billion, a P/E ratio of 28.46, a price-to-earnings-growth ratio of 4.05 and a beta of 0.60. Coca-Cola has a 12 month low of $51.55 and a 12 month high of $73.53. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The business had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. Coca-Cola’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.78 earnings per share. As a group, analysts anticipate that Coca-Cola will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

Insider Buying and Selling

In related news, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the transaction, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the transaction, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Nikolaos Koumettis sold 80,891 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.34, for a total value of $5,042,744.94. Following the transaction, the insider now owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The disclosure for this sale can be found here. Insiders sold a total of 1,074,910 shares of company stock worth $585,972,318 over the last ninety days. 0.97% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Coca-Cola

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Coca-Cola by 21.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after purchasing an additional 8,733,326 shares in the last quarter. Norges Bank bought a new stake in shares of Coca-Cola in the 4th quarter valued at about $2,808,056,000. Legal & General Group Plc lifted its stake in shares of Coca-Cola by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock valued at $2,463,373,000 after acquiring an additional 1,084,475 shares during the last quarter. Truist Financial Corp lifted its stake in shares of Coca-Cola by 1.1% in the 2nd quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock valued at $1,041,479,000 after acquiring an additional 177,241 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Coca-Cola by 5.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 15,171,216 shares of the company’s stock valued at $894,028,000 after acquiring an additional 814,779 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

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, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.