Vetr upgraded shares of Coca-Cola Co. (NYSE:KO) from a buy rating to a strong-buy rating in a research note issued to investors on Wednesday morning. The brokerage currently has $47.52 target price on the stock.
Several other research firms also recently issued reports on KO. Citigroup Inc. reaffirmed a buy rating on shares of Coca-Cola in a research note on Sunday, May 22nd. Sanford C. Bernstein set a $49.00 price target 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 target on shares of Coca-Cola from $54.00 to $50.00 and set a buy rating for the company 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. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company’s stock. Coca-Cola presently has a consensus rating of Hold and a consensus target price of $46.75.
Coca-Cola (NYSE:KO) opened at 42.14 on Wednesday. Coca-Cola has a 52 week low of $38.47 and a 52 week high of $47.13. The company has a 50-day moving average of $43.60 and a 200-day moving average of $44.80. The firm has a market capitalization of $181.88 billion, a price-to-earnings ratio of 24.25 and a beta of 0.57.
Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The business earned $11.50 billion during the quarter, compared to the consensus estimate of $11.69 billion. Coca-Cola had a net margin of 17.61% and a return on equity of 32.78%. The firm’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 EPS. On average, equities analysts forecast that Coca-Cola will post $1.91 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Tuesday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.46%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Darrell & King LLC purchased a new position in Coca-Cola during the fourth quarter valued at $1,123,000. Laurel Wealth Advisors Inc. purchased a new position in Coca-Cola during the fourth quarter valued at $1,475,000. J.P. Marvel Investment Advisors LLC purchased a new position in Coca-Cola during the fourth quarter valued at $4,594,000. Valley National Advisers Inc. boosted its position in Coca-Cola by 4.1% in the fourth quarter. Valley National Advisers Inc. now owns 50,265 shares of the company’s stock valued at $2,159,000 after buying an additional 1,966 shares during the period. Finally, Pioneer Investment Management Inc. boosted its position in Coca-Cola by 44.6% in the fourth quarter. Pioneer Investment Management Inc. now owns 3,332,381 shares of the company’s stock valued at $143,159,000 after buying an additional 1,028,286 shares during the period. Institutional investors and hedge funds own 64.42% 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.
To view Vetr’s full report, visit Vetr’s official website.
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