Shares of The Coca-Cola Company (NYSE:KO – Get Free Report) were down 0.8% during mid-day trading on Thursday after Morgan Stanley lowered their price target on the stock from $78.00 to $76.00. Morgan Stanley currently has an overweight rating on the stock. Coca-Cola traded as low as $67.37 and last traded at $67.46. Approximately 3,867,049 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 13,196,854 shares. The stock had previously closed at $68.01.
A number of other research firms have also issued reports on KO. Bank of America increased their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft raised their target price on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Barclays upped their price target on Coca-Cola from $70.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, Truist Financial boosted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $71.87.
View Our Latest Stock Analysis on Coca-Cola
Insiders Place Their Bets
Institutional Investors Weigh In On Coca-Cola
Hedge funds have recently added to or reduced their stakes in the business. Brookstone Capital Management increased its stake in Coca-Cola by 67.4% in the 1st quarter. Brookstone Capital Management now owns 78,799 shares of the company’s stock valued at $4,821,000 after buying an additional 31,740 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its position in Coca-Cola by 14.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 38,634 shares of the company’s stock valued at $2,364,000 after purchasing an additional 4,754 shares during the last quarter. Kathmere Capital Management LLC grew its stake in Coca-Cola by 15.2% in the 1st quarter. Kathmere Capital Management LLC now owns 4,922 shares of the company’s stock worth $301,000 after buying an additional 648 shares in the last quarter. Financial Management Professionals Inc. increased its holdings in shares of Coca-Cola by 14.1% in the 1st quarter. Financial Management Professionals Inc. now owns 10,670 shares of the company’s stock worth $653,000 after buying an additional 1,321 shares during the last quarter. Finally, Norris Perne & French LLP MI lifted its stake in Coca-Cola by 5.4% during the first quarter. Norris Perne & French LLP MI now owns 11,430 shares of the company’s stock worth $699,000 after purchasing an additional 586 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.
Coca-Cola Price Performance
The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The firm has a 50-day moving average price of $70.74 and a 200 day moving average price of $65.96. The stock has a market capitalization of $289.93 billion, a P/E ratio of 26.92, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60.
Coca-Cola (NYSE:KO – Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.74 earnings per share. On average, analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.
Coca-Cola Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.88%. Coca-Cola’s dividend payout ratio is presently 77.60%.
About Coca-Cola
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. 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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