Cfra Reaffirms “Hold” Rating for Coca-Cola (NYSE:KO)

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

A number of other research firms have also commented on KO. Wells Fargo & Company lifted their target price on Coca-Cola from $70.00 to $73.00 and gave the stock an overweight rating in a report on Wednesday, July 24th. BNP Paribas began coverage on Coca-Cola in a research report on Monday, June 24th. They issued an outperform rating and a $72.00 target price for the company. Royal Bank of Canada raised their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the company an outperform rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the company an overweight rating in a report on Wednesday, July 10th. Finally, Argus raised their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a buy rating in a report on Wednesday, May 22nd. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $70.73.

Coca-Cola Stock Down 0.0 %

NYSE:KO opened at $71.14 on Thursday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The firm’s 50-day moving average price is $67.48 and its 200-day moving average price is $63.58. The company has a market capitalization of $306.47 billion, a PE ratio of 28.46, a P/E/G ratio of 4.05 and a beta of 0.60. Coca-Cola has a 1-year low of $51.55 and a 1-year high of $73.53.

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 firm had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 EPS. On average, equities analysts predict that Coca-Cola will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insider Buying and Selling at Coca-Cola

In related news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO James Quincey sold 102,533 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. The disclosure for this sale can be found here. Insiders sold 1,074,910 shares of company stock worth $585,972,318 in the last quarter. 0.97% of the stock is owned by corporate insiders.

Institutional Trading of Coca-Cola

Several institutional investors and hedge funds have recently made changes to their positions in the business. Tidemark LLC bought a new stake in shares of Coca-Cola in the fourth quarter valued at about $26,000. New Millennium Group LLC bought a new position in Coca-Cola in the second quarter worth about $26,000. Private Wealth Management Group LLC bought a new position in Coca-Cola in the fourth quarter worth about $27,000. Quarry LP bought a new position in Coca-Cola in the second quarter worth about $27,000. Finally, Redmont Wealth Advisors LLC bought a new position in Coca-Cola in the first quarter worth about $28,000. 70.26% of the stock is currently owned by 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.