RBC Capital Markets Analysts Give Coca-Cola Co. (KO) a $49.00 Price Target
Coca-Cola Co. (NYSE:KO) has been assigned a $49.00 target price by investment analysts at RBC Capital Markets in a research note issued on Thursday. The firm presently 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 research analysts have also issued reports about the stock. Vetr reaffirmed a “buy” rating on shares of Coca-Cola in a research note on Thursday, July 28th. Sanford C. Bernstein set a $49.00 price objective on shares of Coca-Cola and gave the company a “buy” rating in a research note on Thursday, July 28th. Stifel Nicolaus dropped their price objective on shares of Coca-Cola from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Coca-Cola in a research note on Sunday, July 24th. Finally, SunTrust Banks Inc. reaffirmed a “buy” rating on shares of Coca-Cola in a research note on Sunday, July 31st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $46.60.
Shares of Coca-Cola (NYSE:KO) traded down 0.43% on Thursday, reaching $41.60. 4,780,875 shares of the company were exchanged. The company’s 50 day moving average is $42.61 and its 200 day moving average is $44.40. The firm has a market capitalization of $179.55 billion, a PE ratio of 23.94 and a beta of 0.59. Coca-Cola has a 12-month low of $40.75 and a 12-month high of $47.13.
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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 analysts’ consensus estimates of $0.58 by $0.02. Coca-Cola had a net margin of 17.61% and a return on equity of 32.78%. The firm had revenue of $11.50 billion for the quarter, compared to analyst estimates of $11.69 billion. During the same period last year, the firm earned $0.63 earnings per share. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. Analysts forecast that Coca-Cola will post $1.91 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were given a dividend of $0.35 per share. The ex-dividend date was Tuesday, September 13th. This represents a $1.40 annualized dividend and a yield of 3.35%. Coca-Cola’s payout ratio is presently 80.46%.
Large investors have recently made changes to their positions in the stock. CHURCHILL MANAGEMENT Corp raised its stake in shares of Coca-Cola by 10.3% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 346,940 shares of the company’s stock worth $15,727,000 after buying an additional 32,457 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Coca-Cola by 19.7% in the second quarter. BNP Paribas Arbitrage SA now owns 2,099,270 shares of the company’s stock worth $95,160,000 after buying an additional 345,810 shares during the last quarter. Credit Agricole S A raised its stake in shares of Coca-Cola by 5.5% in the first quarter. Credit Agricole S A now owns 4,556,956 shares of the company’s stock worth $211,397,000 after buying an additional 238,344 shares during the last quarter. Capstone Asset Management Co. raised its stake in shares of Coca-Cola by 0.4% in the second quarter. Capstone Asset Management Co. now owns 673,917 shares of the company’s stock worth $30,549,000 after buying an additional 2,488 shares during the last quarter. Finally, Avalon Advisors LLC raised its stake in shares of Coca-Cola by 10.3% in the first quarter. Avalon Advisors LLC now owns 661,940 shares of the company’s stock worth $30,707,000 after buying an additional 62,060 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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