Coca-Cola Co. (KO) Rating Increased to Strong-Buy at Vetr Inc.
Coca-Cola Co. (NYSE:KO) was upgraded by equities researchers at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday. The firm presently has a $46.56 price objective on the stock. Vetr‘s price objective suggests a potential upside of 12.08% from the stock’s current price.
Several other research firms have also recently commented on KO. Deutsche Bank AG restated a “buy” rating on shares of Coca-Cola in a report on Sunday, July 24th. Susquehanna reiterated a “hold” rating on shares of Coca-Cola in a report on Sunday, July 17th. BMO Capital Markets reiterated an “outperform” rating on shares of Coca-Cola in a report on Friday, July 15th. Goldman Sachs Group Inc. set a $46.00 target price on Coca-Cola and gave the stock a “neutral” rating in a report on Tuesday, July 12th. Finally, Zacks Investment Research upgraded Coca-Cola from a “sell” rating to a “hold” rating in a report on Friday, July 8th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $46.48.
Shares of Coca-Cola (NYSE:KO) traded down 0.46% during mid-day trading on Tuesday, reaching $41.54. 12,249,060 shares of the company traded hands. Coca-Cola has a 52-week low of $40.75 and a 52-week high of $47.13. The company has a market capitalization of $179.29 billion, a P/E ratio of 23.90 and a beta of 0.59. The firm’s 50 day moving average price is $42.67 and its 200-day moving average price is $44.42.
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Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The company earned $11.50 billion during the quarter, compared to analysts’ expectations of $11.69 billion. Coca-Cola had a return on equity of 32.78% and a net margin of 17.61%. The firm’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. Equities analysts predict that Coca-Cola will post $1.91 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th were paid a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $1.40 annualized dividend and a dividend yield of 3.37%. Coca-Cola’s payout ratio is 80.46%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. New England Private Wealth Advisors LLC boosted its position in Coca-Cola by 0.5% in the second quarter. New England Private Wealth Advisors LLC now owns 5,358 shares of the company’s stock valued at $242,000 after buying an additional 25 shares during the last quarter. RFG Advisory Group LLC boosted its position in Coca-Cola by 0.7% in the second quarter. RFG Advisory Group LLC now owns 4,709 shares of the company’s stock valued at $213,000 after buying an additional 32 shares during the last quarter. Confluence Wealth Management LLC boosted its position in Coca-Cola by 0.7% in the second quarter. Confluence Wealth Management LLC now owns 4,446 shares of the company’s stock valued at $202,000 after buying an additional 33 shares during the last quarter. Verus Financial Partners Inc. boosted its position in Coca-Cola by 0.5% in the second quarter. Verus Financial Partners Inc. now owns 7,759 shares of the company’s stock valued at $352,000 after buying an additional 41 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its position in Coca-Cola by 0.7% in the second quarter. Sunbelt Securities Inc. now owns 7,329 shares of the company’s stock valued at $332,000 after buying an additional 51 shares during the last quarter. 64.33% of the stock is owned by institutional investors.
Coca-Cola Company Profile
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets over 500 nonalcoholic beverage brands, primarily sparkling beverages but also a range 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 Vetr’s full report, visit Vetr’s official website.
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