Coca-Cola (NYSE:KO) Given New $78.00 Price Target at JPMorgan Chase & Co.

Coca-Cola (NYSE:KO) had its price objective increased by JPMorgan Chase & Co. from $74.00 to $78.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

KO has been the subject of a number of other research reports. UBS Group upped their price objective on shares of Coca-Cola from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Piper Sandler lifted their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Evercore ISI upped their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Finally, TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $75.06.

Coca-Cola Stock Performance

Shares of KO opened at $72.80 on Monday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The stock has a market capitalization of $313.30 billion, a P/E ratio of 29.47, a P/E/G ratio of 3.79 and a beta of 0.45. Coca-Cola has a 1 year low of $59.72 and a 1 year high of $73.95. The company’s fifty day moving average is $70.47 and its two-hundred day moving average is $66.37.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. On average, sell-side analysts predict that Coca-Cola will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 54,708 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the transaction, the insider now directly owns 246,909 shares of the company’s stock, valued at $17,520,662.64. The trade was a 18.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 313,423 shares of company stock valued at $22,263,071. Corporate insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Coca-Cola

Several hedge funds have recently modified their holdings of KO. Peachtree Investment Partners LLC boosted its holdings in shares of Coca-Cola by 1.4% in the fourth quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company’s stock worth $697,000 after buying an additional 157 shares during the period. Braun Bostich & Associates Inc. boosted its stake in Coca-Cola by 3.8% in the 1st quarter. Braun Bostich & Associates Inc. now owns 4,308 shares of the company’s stock worth $309,000 after purchasing an additional 159 shares during the period. Fort Sheridan Advisors LLC grew its position in Coca-Cola by 3.3% during the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock worth $311,000 after purchasing an additional 161 shares in the last quarter. Excalibur Management Corp raised its stake in Coca-Cola by 0.6% during the 4th quarter. Excalibur Management Corp now owns 29,412 shares of the company’s stock valued at $1,831,000 after purchasing an additional 161 shares during the period. Finally, Wells Trecaso Financial Group LLC lifted its holdings in shares of Coca-Cola by 4.8% in the fourth quarter. Wells Trecaso Financial Group LLC now owns 3,616 shares of the company’s stock valued at $225,000 after purchasing an additional 164 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

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.