Zacks Reiterates “Neutral” Rating for The Coca-Cola Company (KO)
The Coca-Cola Company (NYSE:KO)‘s stock had its “neutral” rating restated by Zacks in a research note issued to investors on Thursday. They currently have a $42.00 price target on the stock. Zacks‘s price target points to a potential upside of 5.16% from the company’s current price.
Zacks’ analyst wrote, “Coca-Cola posted mixed results in the second quarter, beating the Zacks Consensus Estimate for earnings but slightly missing the same for revenues. Earnings increased 1% year over year driven by improved sparkling beverage volumes, price/mix gains, strong international volumes and better gross margins which made up for higher commodity and marketing costs. Organic revenues grew 3% driven by better volumes. We believe Coca-Cola has sound long-term fundamentals with its global reach, strong brand power, expanding international presence, powerful global bottling network and solid cash position. Moreover, increased focus on product/packaging innovation and marketing strategies are expected to aid market share gains. However, muted volume trends of carbonated beverages due to category headwinds and challenging consumer spending environment concern us. Though volume trends are expected to improve in the second half, we prefer to remain on the sidelines.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Societe Generale downgraded shares of The Coca-Cola Company from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Separately, analysts at Nomura raised their price target on shares of The Coca-Cola Company from $53.50 to $54.00 in a research note on Wednesday, July 16th. They now have a “buy” rating on the stock. Finally, analysts at Jefferies Group initiated coverage on shares of The Coca-Cola Company in a research note on Monday, June 9th. They set a “hold” rating and a $44.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $45.30.
The Coca-Cola Company (NYSE:KO) traded up 0.43% during mid-day trading on Thursday, hitting $40.1101. The stock had a trading volume of 3,349,737 shares. The Coca-Cola Company has a 52 week low of $36.83 and a 52 week high of $42.57. The stock’s 50-day moving average is $41.10 and its 200-day moving average is $39.89. The company has a market cap of $175.9 billion and a price-to-earnings ratio of 21.36. The Coca-Cola Company also saw unusually large options trading activity on Tuesday. Stock investors purchased 27,458 put options on the company. This represents an increase of 281% compared to the typical daily volume of 7,216 put options.
The Coca-Cola Company (NYSE:KO) last released its earnings data on Tuesday, July 22nd. The company reported $0.64 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.63 by $0.01. The company had revenue of $12.57 billion for the quarter, compared to the consensus estimate of $12.82 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. The company’s quarterly revenue was down 1.4% on a year-over-year basis. On average, analysts predict that The Coca-Cola Company will post $2.08 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Investors of record on Monday, September 15th will be given a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Thursday, September 11th.
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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