Coca-Cola (NYSE:KO) Given New $70.00 Price Target at Barclays

Coca-Cola (NYSE:KO) had its price target boosted by Barclays from $69.00 to $70.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

KO has been the topic of a number of other research reports. Royal Bank of Canada increased their target price on Coca-Cola from $65.00 to $68.00 and gave the company an outperform rating in a report on Wednesday. Citigroup increased their target price on Coca-Cola from $72.00 to $75.00 and gave the company a buy rating in a report on Wednesday. Wells Fargo & Company increased their target price on Coca-Cola from $70.00 to $73.00 and gave the company an overweight rating in a report on Wednesday. BNP Paribas initiated coverage on Coca-Cola in a research note on Monday, June 24th. They set an outperform rating and a $72.00 price target on the stock. Finally, StockNews.com lowered Coca-Cola from a buy rating to a hold rating in a research note on Friday, July 19th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $70.25.

Coca-Cola Stock Performance

NYSE KO opened at $66.42 on Thursday. The company has a current ratio of 1.08, a quick ratio of 0.86 and a debt-to-equity ratio of 1.39. The business’s 50 day moving average is $63.40 and its two-hundred day moving average is $61.44. Coca-Cola has a 12-month low of $51.55 and a 12-month high of $66.89. The stock has a market capitalization of $286.13 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 3.71 and a beta of 0.59.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The business had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 EPS. Research analysts expect that Coca-Cola will post 2.84 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.92%. The ex-dividend date was Friday, June 14th. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Insider Buying and Selling at Coca-Cola

In other news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the sale, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Beatriz R. Perez sold 57,298 shares of Coca-Cola stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $61.99, for a total value of $3,551,903.02. Following the completion of the transaction, the executive vice president now directly owns 167,107 shares in the company, valued at $10,358,962.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the transaction, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The disclosure for this sale can be found here. Insiders have sold 841,588 shares of company stock valued at $568,972,027 over the last three months. 0.97% of the stock is owned by company insiders.

Hedge Funds Weigh In On Coca-Cola

A number of large investors have recently bought and sold shares of the business. Capital Advisors Ltd. LLC raised its holdings in Coca-Cola by 4.4% in the second quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock worth $231,000 after purchasing an additional 153 shares during the period. Joule Financial LLC grew its position in Coca-Cola by 3.6% in the second quarter. Joule Financial LLC now owns 4,867 shares of the company’s stock valued at $312,000 after purchasing an additional 167 shares in the last quarter. Community Bank & Trust Waco Texas grew its position in Coca-Cola by 0.6% in the first quarter. Community Bank & Trust Waco Texas now owns 30,262 shares of the company’s stock valued at $1,851,000 after purchasing an additional 168 shares in the last quarter. Goelzer Investment Management Inc. grew its position in Coca-Cola by 1.8% in the fourth quarter. Goelzer Investment Management Inc. now owns 9,681 shares of the company’s stock valued at $571,000 after purchasing an additional 169 shares in the last quarter. Finally, KRS Capital Management LLC grew its position in Coca-Cola by 3.8% in the fourth quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock valued at $274,000 after purchasing an additional 170 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Company Profile

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.