The Coca-Cola (NYSE:KO) has been given a $56.00 price target by Royal Bank of Canada in a research note issued on Thursday. The brokerage presently has a “buy” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 21.53% from the stock’s previous close.
A number of other equities analysts also recently commented on the company. Wells Fargo & Company raised The Coca-Cola from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $46.72 to $51.00 in a research report on Tuesday, November 14th. Vetr raised The Coca-Cola from a “sell” rating to a “strong-buy” rating in a research report on Tuesday, September 12th. Zacks Investment Research raised The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Friday, October 27th. Susquehanna Bancshares set a $41.00 price objective on The Coca-Cola and gave the stock a “hold” rating in a research report on Wednesday, November 15th. Finally, J P Morgan Chase & Co set a $49.00 price objective on The Coca-Cola and gave the stock a “neutral” rating in a research report on Thursday, November 16th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $48.30.
The Coca-Cola (NYSE:KO) opened at $46.08 on Thursday. The Coca-Cola has a 52-week low of $40.22 and a 52-week high of $47.48. The company has a market capitalization of $196,544.58, a PE ratio of 24.41, a PEG ratio of 3.95 and a beta of 0.70. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.30 and a current ratio of 1.39.
In related news, insider J Alexander Douglas, Jr. sold 338,009 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $46.09, for a total value of $15,578,834.81. Following the completion of the transaction, the insider now directly owns 320,013 shares of the company’s stock, valued at $14,749,399.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.51% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Swiss National Bank raised its stake in shares of The Coca-Cola by 3.0% during the second quarter. Swiss National Bank now owns 16,389,490 shares of the company’s stock worth $735,069,000 after purchasing an additional 470,700 shares during the last quarter. Summit Financial Group Inc. purchased a new stake in shares of The Coca-Cola during the second quarter worth approximately $2,779,000. Global X Management Co. LLC raised its stake in shares of The Coca-Cola by 6.0% during the second quarter. Global X Management Co. LLC now owns 222,216 shares of the company’s stock worth $9,966,000 after purchasing an additional 12,513 shares during the last quarter. Keystone Financial Planning Inc. raised its stake in shares of The Coca-Cola by 2.1% during the first quarter. Keystone Financial Planning Inc. now owns 120,433 shares of the company’s stock worth $5,111,000 after purchasing an additional 2,465 shares during the last quarter. Finally, Rothschild Investment Corp IL raised its stake in shares of The Coca-Cola by 1.3% during the second quarter. Rothschild Investment Corp IL now owns 53,661 shares of the company’s stock worth $2,407,000 after purchasing an additional 681 shares during the last quarter. 65.30% of the stock is owned by institutional investors and hedge funds.
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The Coca-Cola Company Profile
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
