Coca-Cola Co. (KO) Given a $49.00 Price Target by RBC Capital Markets Analysts
Coca-Cola Co. (NYSE:KO) has been given a $49.00 price objective by equities researchers at RBC Capital Markets in a note issued to investors on Thursday. The brokerage currently has a a “buy” rating on the stock. RBC Capital Markets’ target price would indicate a potential upside of 17.28% from the stock’s previous close.
Other analysts also recently issued reports about the company. Vetr upgraded Coca-Cola from a “buy” rating to a “strong-buy” rating and set a $46.56 target price for the company in a research note on Tuesday. Zacks Investment Research downgraded Coca-Cola from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Stifel Nicolaus restated a “neutral” rating on shares of Coca-Cola in a research note on Friday, September 30th. Citigroup Inc. restated a “buy” rating and issued a $50.00 target price on shares of Coca-Cola in a research note on Monday, September 19th. Finally, Credit Suisse Group AG began coverage on Coca-Cola in a research note on Thursday, September 15th. They issued a “neutral” rating and a $44.00 target price for the company. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $46.60.
Coca-Cola (NYSE:KO) traded down 0.43% on Thursday, hitting $41.60. The stock had a trading volume of 5,669,194 shares. Coca-Cola has a 52 week low of $40.75 and a 52 week high of $47.13. The company has a 50-day moving average price of $42.61 and a 200-day moving average price of $44.40. The stock has a market capitalization of $179.55 billion, a price-to-earnings ratio of 23.94 and a beta of 0.59.
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Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ 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 last year, the business posted $0.63 EPS. Coca-Cola’s revenue for the quarter was down 5.1% on a year-over-year basis. Equities research analysts anticipate that Coca-Cola will post $1.91 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were given a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $1.40 annualized dividend and a yield of 3.35%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.46%.
A number of hedge funds have recently bought and sold shares of KO. Stokes & Hubbell Capital Management LLC raised its stake in Coca-Cola by 1.7% in the first quarter. Stokes & Hubbell Capital Management LLC now owns 85,234 shares of the company’s stock valued at $3,954,000 after buying an additional 1,400 shares during the last quarter. Bridges Investment Management Inc. raised its stake in Coca-Cola by 9.3% in the first quarter. Bridges Investment Management Inc. now owns 45,127 shares of the company’s stock valued at $1,770,000 after buying an additional 3,850 shares during the last quarter. Lincluden Management Ltd. raised its stake in Coca-Cola by 0.4% in the first quarter. Lincluden Management Ltd. now owns 70,996 shares of the company’s stock valued at $3,294,000 after buying an additional 305 shares during the last quarter. ST Germain D J Co. Inc. raised its stake in Coca-Cola by 8.6% in the first quarter. ST Germain D J Co. Inc. now owns 8,181 shares of the company’s stock valued at $380,000 after buying an additional 650 shares during the last quarter. Finally, Vicus Capital raised its stake in Coca-Cola by 91.9% in the first quarter. Vicus Capital now owns 9,555 shares of the company’s stock valued at $443,000 after buying an additional 4,576 shares during the last quarter. Institutional investors and hedge funds own 64.33% of the company’s stock.
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.
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