Coca-Cola Co. (KO) Lifted to “Strong-Buy” at Vetr Inc.
Vetr upgraded shares of Coca-Cola Co. (NYSE:KO) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday morning. They currently have $46.56 price target on the stock.
Several other analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Coca-Cola from a hold rating to a sell rating in a report on Tuesday, October 4th. Stifel Nicolaus restated a neutral rating on shares of Coca-Cola in a research report on Friday, September 30th. Citigroup Inc. restated a buy rating and set a $50.00 price target on shares of Coca-Cola in a research report on Monday, September 19th. Credit Suisse Group AG assumed coverage on shares of Coca-Cola in a research report on Thursday, September 15th. They set a neutral rating and a $44.00 price target for the company. Finally, Jefferies Group restated a hold rating on shares of Coca-Cola in a research report on Thursday, August 25th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $46.60.
Coca-Cola (NYSE:KO) opened at 41.76 on Tuesday. The stock has a 50 day moving average of $42.55 and a 200 day moving average of $44.38. The firm has a market capitalization of $180.24 billion, a PE ratio of 24.03 and a beta of 0.59. Coca-Cola has a 12 month low of $40.75 and a 12 month high of $47.13.
Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, July 27th. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The company earned $11.50 billion during the quarter, compared to the consensus estimate 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 for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 earnings per share. On average, equities analysts predict that Coca-Cola will post $1.91 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date was Tuesday, September 13th. Coca-Cola’s dividend payout ratio is currently 80.46%.
Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Coca-Cola by 2.0% in the second quarter. Vanguard Group Inc. now owns 273,897,295 shares of the company’s stock valued at $12,415,764,000 after buying an additional 5,478,675 shares during the period. State Street Corp increased its position in Coca-Cola by 0.9% in the first quarter. State Street Corp now owns 167,467,138 shares of the company’s stock valued at $7,768,816,000 after buying an additional 1,511,559 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Coca-Cola by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 102,413,710 shares of the company’s stock valued at $4,750,972,000 after buying an additional 843,493 shares during the period. Capital Research Global Investors increased its position in Coca-Cola by 4.1% in the second quarter. Capital Research Global Investors now owns 79,080,741 shares of the company’s stock valued at $3,584,730,000 after buying an additional 3,091,367 shares during the period. Finally, BlackRock Fund Advisors increased its position in Coca-Cola by 4.7% in the second quarter. BlackRock Fund Advisors now owns 58,761,795 shares of the company’s stock valued at $2,663,672,000 after buying an additional 2,641,790 shares during the period. 64.33% of the stock is currently 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.
To view Vetr’s full report, visit Vetr’s official website.
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