Credit Suisse Group AG Begins Coverage on Coca-Cola Co. (KO)
Credit Suisse Group AG initiated coverage on shares of Coca-Cola Co. (NYSE:KO) in a research report sent to investors on Thursday morning. The firm issued a neutral rating and a $44.00 target price on the stock.
KO has been the topic of a number of other research reports. Citigroup Inc. reissued a buy rating on shares of Coca-Cola in a report on Sunday, May 22nd. Vetr cut shares of Coca-Cola from a buy rating to a hold rating and set a $45.83 price objective on the stock. in a report on Tuesday, May 24th. Susquehanna reissued a hold rating and set a $39.00 price objective on shares of Coca-Cola in a report on Sunday, June 5th. Zacks Investment Research raised shares of Coca-Cola from a sell rating to a hold rating in a report on Thursday, June 23rd. Finally, Goldman Sachs Group Inc. reissued a neutral rating and set a $45.00 price objective (down previously from $47.00) on shares of Coca-Cola in a report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the stock. Coca-Cola has an average rating of Hold and a consensus target price of $46.75.
Coca-Cola (NYSE:KO) opened at 42.10 on Thursday. The company has a 50 day moving average of $43.41 and a 200 day moving average of $44.76. Coca-Cola has a 1-year low of $38.51 and a 1-year high of $47.13. The firm has a market capitalization of $181.70 billion, a PE ratio of 24.22 and a beta of 0.57.
Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The firm had revenue of $11.50 billion for the quarter, compared to analysts’ expectations of $11.69 billion. Coca-Cola had a net margin of 17.61% and a return on equity of 32.78%. The firm’s revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 earnings per share. Analysts forecast that Coca-Cola will post $1.91 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Tuesday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.46%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Compagnie Odier SCA increased its position in shares of Coca-Cola by 36.1% in the fourth quarter. Compagnie Odier SCA now owns 2,285,730 shares of the company’s stock valued at $98,199,000 after buying an additional 606,523 shares during the last quarter. Lynch & Associates IN increased its position in shares of Coca-Cola by 6.2% in the fourth quarter. Lynch & Associates IN now owns 81,688 shares of the company’s stock valued at $3,509,000 after buying an additional 4,787 shares during the last quarter. Sanctuary Wealth Advisors LLC increased its position in shares of Coca-Cola by 15.4% in the fourth quarter. Sanctuary Wealth Advisors LLC now owns 24,133 shares of the company’s stock valued at $1,019,000 after buying an additional 3,215 shares during the last quarter. Patten & Patten Inc. TN increased its position in shares of Coca-Cola by 31.5% in the fourth quarter. Patten & Patten Inc. TN now owns 283,851 shares of the company’s stock valued at $12,194,000 after buying an additional 68,060 shares during the last quarter. Finally, Perigon Wealth Management LLC increased its position in shares of Coca-Cola by 152.0% in the fourth quarter. Perigon Wealth Management LLC now owns 45,833 shares of the company’s stock valued at $1,969,000 after buying an additional 27,642 shares during the last quarter. 64.42% of the stock is owned by institutional investors and hedge funds.
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets over 500 nonalcoholic beverage brands, primarily sparkling beverages but also a range of still beverages, such as waters, enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks.
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