Jefferies Group Initiates Coverage on The Coca-Cola Company (KO)
Investment analysts at Jefferies Group started coverage on shares of The Coca-Cola Company (NYSE:KO) in a note issued to investors on Monday, TheFlyOnTheWall.com reports. The firm set a “hold” rating and a $44.00 price target on the stock. Jefferies Group’s target price would indicate a potential upside of 7.55% from the company’s current price.
The analysts wrote, “among the best in consumer packaged goods.” Despite this, the analyst addressed the company’s growth issues. Jefferies wrote, “KO’s portfolio is over-levered to CSDs (74% of volume), health & wellness trends aren’t going away, and KO’s commentary suggests game changing M&A is unlikely. KO is a great company, although it seems less likely to us that it will return to being a great stock in the current environment.” The analyst added that Monster Beverage is a “sensible fit from an M&A perspective, and would augment KO’s growth.”
A number of other firms have also recently commented on KO. Analysts at Zacks reiterated a “neutral” rating on shares of The Coca-Cola Company in a research note on Thursday, May 15th. They now have a $43.00 price target on the stock. Separately, analysts at Nomura initiated coverage on shares of The Coca-Cola Company in a research note on Tuesday, April 29th. They set a “buy” rating and a $53.50 price target on the stock. They noted that the move was a valuation call. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of The Coca-Cola Company in a research note on Friday, April 25th. They now have a $48.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $45.05.
Shares of The Coca-Cola Company (NYSE:KO) traded up 0.34% on Monday, hitting $41.05. 4,510,291 shares of the company’s stock traded hands. The Coca-Cola Company has a 52 week low of $36.83 and a 52 week high of $41.52. The stock has a 50-day moving average of $40.78 and a 200-day moving average of $39.5. The company has a market cap of $180.4 billion and a P/E ratio of 21.87. The Coca-Cola Company also saw some unusual options trading activity on Monday. Traders purchased 32,316 call options on the company. This represents an increase of 297% compared to the typical volume of 8,138 call options.
The Coca-Cola Company (NYSE:KO) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $0.44 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.45 by $0.01. The company had revenue of $10.58 billion for the quarter, compared to the consensus estimate of $10.61 billion. During the same quarter last year, the company posted $0.46 earnings per share. The Coca-Cola Company’s revenue was down 4.2% compared to the same quarter last year. On average, analysts predict that The Coca-Cola Company will post $2.09 earnings per share for the current fiscal year.
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets more than 500 nonalcoholic beverage brands, primarily sparkling beverages but also a variety of still beverages, such as waters, enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks.
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