The Coca-Cola (KO) Given a $56.00 Price Target at Royal Bank of Canada

Royal Bank of Canada set a $56.00 price target on The Coca-Cola (NYSE:KO) in a report published on Thursday. The firm currently has a buy rating on the stock.

KO has been the subject of a number of other reports. Wells Fargo & Co upgraded The Coca-Cola from a market perform rating to an outperform rating and upped their price objective for the stock from $46.72 to $51.00 in a research note on Tuesday, November 14th. Vetr raised The Coca-Cola from a sell rating to a strong-buy rating in a research note on Tuesday, September 12th. Zacks Investment Research upgraded The Coca-Cola from a hold rating to a buy rating and set a $52.00 price objective for the company in a report on Friday, October 27th. Susquehanna Bancshares set a $41.00 price objective on The Coca-Cola and gave the company a hold rating in a report on Wednesday, November 15th. Finally, JPMorgan Chase & Co. set a $49.00 price objective on The Coca-Cola and gave the company a neutral rating in a report on Thursday, November 16th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $48.30.

The Coca-Cola (NYSE:KO) opened at $45.59 on Thursday. The company has a current ratio of 1.39, a quick ratio of 1.30 and a debt-to-equity ratio of 1.47. The stock has a market cap of $194,286.41, a P/E ratio of 43.42, a PEG ratio of 3.90 and a beta of 0.70. The Coca-Cola has a 1 year low of $40.22 and a 1 year high of $47.48.

The Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, October 25th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. The business had revenue of $9.08 billion for the quarter, compared to analyst estimates of $8.73 billion. The Coca-Cola had a net margin of 12.20% and a return on equity of 36.21%. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period last year, the firm posted $0.49 earnings per share. research analysts predict that The Coca-Cola will post 1.91 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.25%. The ex-dividend date was Thursday, November 30th. The Coca-Cola’s payout ratio is currently 140.95%.

In other news, insider J Alexander Douglas, Jr. sold 338,009 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $46.09, for a total transaction of $15,578,834.81. Following the transaction, the insider now owns 320,013 shares of the company’s stock, valued at approximately $14,749,399.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.51% of the company’s stock.

A number of large investors have recently made changes to their positions in KO. Atlantic Trust Group LLC increased its stake in shares of The Coca-Cola by 6.4% in the 3rd quarter. Atlantic Trust Group LLC now owns 718,307 shares of the company’s stock valued at $32,332,000 after buying an additional 43,128 shares during the period. Parametric Portfolio Associates LLC grew its stake in shares of The Coca-Cola by 5.1% during the third quarter. Parametric Portfolio Associates LLC now owns 9,132,860 shares of the company’s stock worth $411,070,000 after purchasing an additional 441,760 shares during the period. Chicago Partners Investment Group LLC grew its stake in shares of The Coca-Cola by 257.1% during the third quarter. Chicago Partners Investment Group LLC now owns 15,691 shares of the company’s stock worth $706,000 after purchasing an additional 11,297 shares during the period. Institutional & Family Asset Management LLC grew its stake in shares of The Coca-Cola by 25.7% during the third quarter. Institutional & Family Asset Management LLC now owns 17,850 shares of the company’s stock worth $803,000 after purchasing an additional 3,652 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of The Coca-Cola during the third quarter worth $4,133,000. Hedge funds and other institutional investors own 65.30% of the company’s stock.

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About The Coca-Cola

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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