Coca-Cola Co. (KO) Upgraded to “Strong-Buy” by Vetr Inc.
Coca-Cola Co. (NYSE:KO) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report released on Tuesday. The brokerage currently has a $46.56 price objective on the stock. Vetr‘s price target points to a potential upside of 12.08% from the company’s current price.
A number of other analysts also recently commented on KO. Susquehanna reissued a “hold” rating on shares of Coca-Cola in a research note on Sunday, July 17th. Sanford C. Bernstein set a $49.00 target price on Coca-Cola and gave the stock a “buy” rating in a research report on Thursday, July 28th. Goldman Sachs Group Inc. set a $45.00 target price on Coca-Cola and gave the stock a “neutral” rating in a research report on Thursday, July 28th. Zacks Investment Research raised Coca-Cola from a “sell” rating to a “hold” rating in a research report on Thursday, June 23rd. Finally, Stifel Nicolaus reaffirmed a “neutral” rating on shares of Coca-Cola in a research report on Friday, September 30th. Two investment 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 company currently has a consensus rating of “Hold” and a consensus target price of $46.48.
Shares of Coca-Cola (NYSE:KO) traded down 0.46% during mid-day trading on Tuesday, reaching $41.54. The company’s stock had a trading volume of 12,249,060 shares. 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 PE ratio of 23.90 and a beta of 0.59. The firm’s 50 day moving average is $42.67 and its 200-day moving average is $44.42.
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Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. Coca-Cola had a return on equity of 32.78% and a net margin of 17.61%. The company had revenue of $11.50 billion for the quarter, compared to the consensus estimate of $11.69 billion. During the same quarter in the previous year, the business earned $0.63 EPS. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. Analysts forecast that Coca-Cola will post $1.91 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were given a dividend of $0.35 per share. 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 dividend payout ratio is presently 80.46%.
Several institutional investors have recently bought and sold shares of the company. MCF Advisors LLC boosted its position in Coca-Cola by 10.0% in the second quarter. MCF Advisors LLC now owns 2,208 shares of the company’s stock valued at $100,000 after buying an additional 200 shares in the last quarter. Country Trust Bank boosted its position in Coca-Cola by 25.0% in the second quarter. Country Trust Bank now owns 2,500 shares of the company’s stock valued at $113,000 after buying an additional 500 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its position in Coca-Cola by 562.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,483 shares of the company’s stock valued at $113,000 after buying an additional 2,108 shares during the period. Lenox Wealth Management Inc. boosted its position in Coca-Cola by 38.0% in the second quarter. Lenox Wealth Management Inc. now owns 2,611 shares of the company’s stock valued at $118,000 after buying an additional 719 shares during the period. Finally, Tradewinds Capital Management LLC boosted its position in Coca-Cola by 6.8% in the second quarter. Tradewinds Capital Management LLC now owns 2,744 shares of the company’s stock valued at $124,000 after buying an additional 174 shares during the period. 64.33% of the stock is owned by institutional investors and hedge funds.
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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