Coca-Cola (NYSE:KO) Price Target Raised to $70.00 at Truist Financial

Coca-Cola (NYSE:KO) had its price target increased by Truist Financial from $65.00 to $70.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms also recently weighed in on KO. Bank of America increased their target price on Coca-Cola from $68.00 to $70.00 and gave the company a buy rating in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft increased their target price on Coca-Cola from $64.00 to $65.00 and gave the company a hold rating in a report on Wednesday. JPMorgan Chase & Co. increased their target price on Coca-Cola from $68.00 to $72.00 and gave the company an overweight rating in a report on Wednesday, July 10th. Citigroup increased their target price on Coca-Cola from $72.00 to $75.00 and gave the company a buy rating in a report on Wednesday. Finally, Morgan Stanley increased their target price on Coca-Cola from $68.00 to $70.00 and gave the company an overweight rating in a report on Monday, June 10th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $70.25.

Coca-Cola Trading Up 0.4 %

NYSE KO opened at $66.07 on Thursday. Coca-Cola has a 12 month low of $51.55 and a 12 month high of $66.89. The stock has a market cap of $284.63 billion, a P/E ratio of 26.43, a P/E/G ratio of 3.71 and a beta of 0.59. The stock’s fifty day moving average price is $63.40 and its 200-day moving average price is $61.44. The company has a current ratio of 1.08, a quick ratio of 0.86 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The firm had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 earnings per share. As a group, equities analysts forecast that Coca-Cola will post 2.84 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend was Friday, June 14th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insider Buying and Selling

In related news, EVP Nancy Quan sold 19,304 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $14,507,516.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the transaction, the executive vice president now owns 167,107 shares in the company, valued at approximately $10,358,962.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total value of $1,253,987.84. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $14,507,516.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 841,588 shares of company stock worth $568,972,027. 0.97% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Coca-Cola

Several institutional investors have recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC grew its holdings in Coca-Cola by 4.4% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock valued at $231,000 after buying an additional 153 shares in the last quarter. Joule Financial LLC grew its holdings in Coca-Cola by 3.6% during the 2nd quarter. Joule Financial LLC now owns 4,867 shares of the company’s stock valued at $312,000 after buying an additional 167 shares in the last quarter. Community Bank & Trust Waco Texas grew its holdings in Coca-Cola by 0.6% during the 1st quarter. Community Bank & Trust Waco Texas now owns 30,262 shares of the company’s stock valued at $1,851,000 after buying an additional 168 shares in the last quarter. Goelzer Investment Management Inc. grew its holdings in Coca-Cola by 1.8% during the 4th quarter. Goelzer Investment Management Inc. now owns 9,681 shares of the company’s stock valued at $571,000 after buying an additional 169 shares in the last quarter. Finally, KRS Capital Management LLC lifted its stake in shares of Coca-Cola by 3.8% in the 4th quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock valued at $274,000 after purchasing an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

About Coca-Cola

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.