Coca-Cola Company (The) (KO) Lifted to Hold at BidaskClub

BidaskClub upgraded shares of Coca-Cola Company (The) (NYSE:KO) from a sell rating to a hold rating in a research note published on Monday, July 31st.

KO has been the topic of a number of other reports. Zacks Investment Research cut Coca-Cola Company (The) from a buy rating to a hold rating in a report on Wednesday, April 26th. Credit Suisse Group raised Coca-Cola Company (The) from a neutral rating to an outperform rating and raised their price target for the company from $44.00 to $49.00 in a report on Wednesday, April 19th. UBS AG raised their price target on Coca-Cola Company (The) from $49.00 to $51.00 and gave the company a buy rating in a report on Thursday, July 27th. Jefferies Group LLC set a $47.00 price target on Coca-Cola Company (The) and gave the company a neutral rating in a report on Thursday, July 27th. Finally, Deutsche Bank AG reaffirmed a hold rating and issued a $46.00 target price (up from $44.00) on shares of Coca-Cola Company (The) in a report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $45.70.

Shares of Coca-Cola Company (KO) opened at 45.59 on Monday. Coca-Cola Company has a 1-year low of $39.88 and a 1-year high of $46.43. The company’s 50 day moving average price is $45.14 and its 200-day moving average price is $43.57. The company has a market capitalization of $194.46 billion, a price-to-earnings ratio of 48.14 and a beta of 0.69.

Coca-Cola Company (The) (NYSE:KO) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.02. The business had revenue of $9.70 billion for the quarter, compared to analysts’ expectations of $9.62 billion. Coca-Cola Company (The) had a return on equity of 34.53% and a net margin of 10.68%. The business’s quarterly revenue was down 15.9% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share. On average, equities analysts forecast that Coca-Cola Company will post $1.90 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a dividend of $0.37 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.48 annualized dividend and a dividend yield of 3.25%. Coca-Cola Company (The)’s dividend payout ratio (DPR) is presently 154.17%.

In related news, insider Irial Finan sold 354,146 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $45.00, for a total value of $15,936,570.00. Following the completion of the sale, the insider now owns 780,258 shares in the company, valued at $35,111,610. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Beatriz R. Perez sold 29,282 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $45.20, for a total value of $1,323,546.40. Following the completion of the sale, the insider now owns 118,000 shares of the company’s stock, valued at approximately $5,333,600. The disclosure for this sale can be found here. Insiders have sold 614,841 shares of company stock valued at $27,900,186 in the last 90 days. Company insiders own 1.51% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. North American Management Corp raised its stake in shares of Coca-Cola Company (The) by 10.3% in the second quarter. North American Management Corp now owns 6,435 shares of the company’s stock worth $289,000 after buying an additional 600 shares during the last quarter. Shell Asset Management Co. raised its stake in shares of Coca-Cola Company (The) by 0.5% in the first quarter. Shell Asset Management Co. now owns 876,901 shares of the company’s stock worth $37,216,000 after buying an additional 4,101 shares during the last quarter. Guinness Asset Management Ltd raised its stake in shares of Coca-Cola Company (The) by 13.4% in the first quarter. Guinness Asset Management Ltd now owns 232,940 shares of the company’s stock worth $9,886,000 after buying an additional 27,560 shares during the last quarter. IFM Investors Pty Ltd purchased a new stake in shares of Coca-Cola Company (The) during the fourth quarter worth about $2,170,000. Finally, Marathon Asset Management LLP raised its stake in shares of Coca-Cola Company (The) by 7.3% in the first quarter. Marathon Asset Management LLP now owns 2,699,084 shares of the company’s stock worth $115,439,000 after buying an additional 184,589 shares during the last quarter. Hedge funds and other institutional investors own 63.68% of the company’s stock.

About Coca-Cola Company (The)

The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.

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