Coca-Cola Company (The) (KO) Raised 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 released on Monday, July 31st.

KO has been the topic of several other research reports. Stifel Nicolaus reiterated a hold rating and set a $41.00 price target on shares of Coca-Cola Company (The) in a research report on Monday, April 24th. Goldman Sachs Group, Inc. (The) reiterated a sell rating and set a $41.00 price target on shares of Coca-Cola Company (The) in a research report on Wednesday, April 26th. Wells Fargo & Company reiterated a market perform rating and set a $43.00 price target on shares of Coca-Cola Company (The) in a research report on Friday, April 28th. Zacks Investment Research raised shares of Coca-Cola Company (The) from a hold rating to a buy rating and set a $51.00 price objective on the stock in a research note on Tuesday, June 27th. Finally, Bank of America Corporation boosted their price objective on shares of Coca-Cola Company (The) from $47.00 to $48.00 and gave the stock a buy rating in a research note on Wednesday, April 26th. 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 stock. Coca-Cola Company (The) presently has a consensus rating of Hold and an average price target of $45.70.

Shares of Coca-Cola Company (KO) traded down 0.41% on Monday, hitting $45.67. 10,879,794 shares of the stock traded hands. The stock has a 50-day moving average price of $45.25 and a 200 day moving average price of $43.72. Coca-Cola Company has a 52 week low of $39.88 and a 52 week high of $46.43. The firm has a market cap of $194.80 billion, a P/E ratio of 48.23 and a beta of 0.69.

Coca-Cola Company (The) (NYSE:KO) last released its quarterly earnings data on Wednesday, July 26th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Coca-Cola Company (The) had a net margin of 10.68% and a return on equity of 34.53%. The firm had revenue of $9.70 billion for the quarter, compared to analysts’ expectations of $9.62 billion. During the same quarter in the previous year, the company earned $0.60 earnings per share. The company’s revenue for the quarter was down 15.9% compared to the same quarter last year. Equities research analysts predict that Coca-Cola Company will post $1.90 EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.48 annualized dividend and a dividend yield of 3.24%. Coca-Cola Company (The)’s payout ratio is 154.17%.

In other Coca-Cola Company (The) news, VP Kathy N. Waller sold 8,952 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $45.77, for a total transaction of $409,733.04. Following the completion of the sale, the vice president now directly owns 109,508 shares of the company’s stock, valued at $5,012,181.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Francisco Crespo sold 7,700 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $46.01, for a total transaction of $354,277.00. Following the sale, the insider now directly owns 29,943 shares of the company’s stock, valued at $1,377,677.43. The disclosure for this sale can be found here. Insiders have sold 750,263 shares of company stock valued at $34,134,363 over the last three months. 1.51% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Portfolio Solutions LLC acquired a new stake in shares of Coca-Cola Company (The) during the first quarter worth approximately $108,000. Signature Estate & Investment Advisors LLC boosted its stake in shares of Coca-Cola Company (The) by 5.0% in the first quarter. Signature Estate & Investment Advisors LLC now owns 2,725 shares of the company’s stock worth $116,000 after buying an additional 129 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Coca-Cola Company (The) by 59.4% in the second quarter. Meeder Asset Management Inc. now owns 2,754 shares of the company’s stock worth $124,000 after buying an additional 1,026 shares in the last quarter. SRS Capital Advisors Inc. acquired a new stake in shares of Coca-Cola Company (The) during the fourth quarter worth approximately $127,000. Finally, Eagle Ridge Investment Management purchased a new stake in shares of Coca-Cola Company (The) during the second quarter worth about $138,000. 63.80% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Company (The) Company Profile

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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