Coca-Cola (NYSE:KO) Upgraded to “Buy” by StockNews.com

Coca-Cola (NYSE:KOGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

Several other equities analysts have also weighed in on the company. Morgan Stanley increased their price objective on Coca-Cola from $65.00 to $71.00 and gave the company an “overweight” rating in a report on Tuesday, February 8th. Deutsche Bank Aktiengesellschaft increased their price objective on Coca-Cola from $62.00 to $64.00 and gave the company a “hold” rating in a report on Tuesday. UBS Group increased their price objective on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a report on Friday, February 11th. Citigroup increased their price objective on Coca-Cola from $65.00 to $68.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Guggenheim increased their price objective on Coca-Cola from $68.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $66.84.

Shares of KO traded down $0.89 on Tuesday, reaching $65.05. 21,736,142 shares of the company’s stock traded hands, compared to its average volume of 18,877,316. The company has a current ratio of 1.13, a quick ratio of 0.96 and a debt-to-equity ratio of 1.53. The stock has a market cap of $281.99 billion, a PE ratio of 28.78, a PEG ratio of 3.21 and a beta of 0.65. The stock’s 50 day simple moving average is $62.21 and its two-hundred day simple moving average is $59.23. Coca-Cola has a 52-week low of $52.28 and a 52-week high of $67.20.

Coca-Cola (NYSE:KOGet Rating) last issued its quarterly earnings results on Monday, April 25th. The company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.06. The company had revenue of $10.50 billion during the quarter, compared to the consensus estimate of $9.83 billion. Coca-Cola had a return on equity of 42.21% and a net margin of 25.28%. Coca-Cola’s revenue was up 16.7% on a year-over-year basis. During the same period last year, the business posted $0.55 earnings per share. Analysts forecast that Coca-Cola will post 2.44 earnings per share for the current year.

In other Coca-Cola news, CFO John Murphy sold 154,080 shares of the firm’s stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $62.29, for a total transaction of $9,597,643.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Beatriz R. Perez sold 25,406 shares of the firm’s stock in a transaction dated Tuesday, February 8th. The shares were sold at an average price of $62.01, for a total value of $1,575,426.06. The disclosure for this sale can be found here. Insiders have sold 512,819 shares of company stock valued at $32,431,674 in the last three months. 0.98% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in Coca-Cola by 3.7% during the 4th quarter. BlackRock Inc. now owns 279,741,946 shares of the company’s stock valued at $16,563,519,000 after acquiring an additional 9,884,447 shares in the last quarter. State Street Corp boosted its position in Coca-Cola by 1.8% during the 4th quarter. State Street Corp now owns 170,597,908 shares of the company’s stock valued at $10,101,102,000 after acquiring an additional 2,984,878 shares in the last quarter. Geode Capital Management LLC boosted its position in Coca-Cola by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 69,443,905 shares of the company’s stock valued at $4,102,043,000 after acquiring an additional 2,035,444 shares in the last quarter. Morgan Stanley boosted its position in Coca-Cola by 5.1% during the 3rd quarter. Morgan Stanley now owns 50,747,845 shares of the company’s stock valued at $2,662,738,000 after acquiring an additional 2,484,005 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Coca-Cola by 4.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 50,269,019 shares of the company’s stock worth $2,976,429,000 after purchasing an additional 2,213,153 shares in the last quarter. Institutional investors own 67.82% of the company’s stock.

About Coca-Cola (Get Rating)

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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