The Coca-Cola (KO) Earns Neutral Rating from Goldman Sachs Group
The Coca-Cola (NYSE:KO)‘s stock had its “neutral” rating reaffirmed by research analysts at Goldman Sachs Group in a report issued on Thursday. They currently have a $46.00 price target on the stock. Goldman Sachs Group’s target price would indicate a potential downside of 0.28% from the stock’s previous close.
KO has been the subject of several other research reports. HSBC set a $61.00 target price on shares of The Coca-Cola and gave the stock a “buy” rating in a report on Thursday, September 27th. Zacks Investment Research cut shares of The Coca-Cola from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. Jefferies Financial Group set a $48.00 target price on shares of The Coca-Cola and gave the stock a “neutral” rating in a report on Thursday, September 6th. Morgan Stanley set a $49.00 price target on shares of The Coca-Cola and gave the company a “neutral” rating in a research report on Wednesday, September 26th. Finally, Guggenheim initiated coverage on shares of The Coca-Cola in a research report on Thursday, September 13th. They set a “buy” rating and a $51.00 price target on the stock. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $50.74.
Shares of The Coca-Cola stock traded up $0.52 during trading on Thursday, hitting $46.13. 442,165 shares of the company’s stock were exchanged, compared to its average volume of 11,058,874. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.15 and a quick ratio of 1.06. The Coca-Cola has a 52-week low of $41.45 and a 52-week high of $48.62. The stock has a market cap of $195.63 billion, a PE ratio of 24.07, a price-to-earnings-growth ratio of 2.89 and a beta of 0.75.
In other news, VP Kathy N. Waller sold 48,354 shares of The Coca-Cola stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $46.45, for a total value of $2,246,043.30. Following the sale, the vice president now owns 200,725 shares in the company, valued at $9,323,676.25. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Murphy sold 56,000 shares of The Coca-Cola stock in a transaction dated Wednesday, July 25th. The shares were sold at an average price of $46.48, for a total transaction of $2,602,880.00. Following the completion of the sale, the insider now owns 140,869 shares in the company, valued at approximately $6,547,591.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 215,822 shares of company stock worth $10,027,727. Company insiders own 1.48% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in KO. Principal Financial Group Inc. boosted its position in The Coca-Cola by 8.7% during the first quarter. Principal Financial Group Inc. now owns 8,128,273 shares of the company’s stock worth $353,011,000 after acquiring an additional 648,091 shares during the last quarter. RMB Capital Management LLC boosted its position in The Coca-Cola by 32.1% during the first quarter. RMB Capital Management LLC now owns 20,004 shares of the company’s stock worth $869,000 after acquiring an additional 4,858 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in The Coca-Cola by 390.0% during the first quarter. Westwood Holdings Group Inc. now owns 40,571 shares of the company’s stock worth $1,762,000 after acquiring an additional 32,292 shares during the last quarter. Infrastructure Capital Advisors LLC acquired a new position in The Coca-Cola during the first quarter worth about $261,000. Finally, GQG Partners LLC acquired a new position in The Coca-Cola during the first quarter worth about $49,616,000. Institutional investors and hedge funds own 65.38% of the company’s stock.
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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