The Coca-Cola Company Earns “AA-” Credit Rating (KO)
The Coca-Cola Company (NYSE:KO) has received an “AA-” credit rating from Morningstar. The agency’s “AA-” rating suggests that the company is a very-low default risk. They also issued a negative credit outlook for the company and gave their stock a four star rating.
Other equities research analysts have also recently issued reports about the stock. Analysts at Brasil Plural initiated coverage on shares of The Coca-Cola Company in a research note on Monday, August 25th. They set an “overweight” rating and a $46.00 price target on the stock. Separately, analysts at Jefferies Group downgraded shares of The Coca-Cola Company from a “buy” rating to a “hold” rating in a research note on Monday, August 18th. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of The Coca-Cola Company in a research note on Monday, August 18th. They now have a $46.00 price target on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $45.50.
The Coca-Cola Company (NYSE:KO) opened at 41.87 on Friday. 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 $40.77 and its 200-day moving average is $40.23. The company has a market cap of $183.6 billion and a P/E ratio of 22.34. The Coca-Cola Company also saw a significant decrease in short interest in the month of August. As of August 15th, there was short interest totalling 49,968,050 shares, a decrease of 20.4% from the July 31st total of 62,797,788 shares. Based on an average daily trading volume, of 13,544,871 shares, the days-to-cover ratio is presently 3.7 days. Currently, 1.2% of the company’s shares are short sold.
The Coca-Cola Company (NYSE:KO) last issued its quarterly 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.
In other The Coca-Cola Company news, EVP Irial Finan unloaded 250,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $41.61, for a total value of $10,402,500.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
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.
To view more credit ratings from Morningstar, visit www.morningstar.com.
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