Coca-Cola (NYSE:KO) Given Hold Rating at Cfra

Cfra reissued their hold rating on shares of Coca-Cola (NYSE:KO) in a research report sent to investors on Thursday, Benzinga reports.

KO has been the subject of a number of other research reports. Wells Fargo & Company upped their price target on Coca-Cola from $70.00 to $73.00 and gave the company an overweight rating in a research report on Wednesday, July 24th. Argus upped their price target on Coca-Cola from $70.00 to $72.00 and gave the company a buy rating in a research report on Wednesday, May 22nd. Royal Bank of Canada upped their price target on Coca-Cola from $65.00 to $68.00 and gave the company an outperform rating in a research report on Wednesday, July 24th. Barclays increased their target price on Coca-Cola from $69.00 to $70.00 and gave the stock an overweight rating in a research report on Thursday, July 25th. Finally, TD Cowen increased their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a hold rating in a research report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $70.73.

Coca-Cola Trading Down 0.0 %

NYSE KO opened at $71.14 on Thursday. The stock has a 50-day moving average of $67.48 and a 200-day moving average of $63.56. The firm has a market cap of $306.47 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 4.05 and a beta of 0.60. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. Coca-Cola has a 1-year low of $51.55 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The business had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. Coca-Cola’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.78 EPS. As a group, sell-side analysts forecast that Coca-Cola will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.73%. Coca-Cola’s payout ratio is currently 77.60%.

Insider Buying and Selling

In related news, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $62.34, for a total value of $5,042,744.94. Following the sale, the insider now owns 218,880 shares in the company, valued at approximately $13,644,979.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the sale, the insider now directly owns 218,880 shares in the company, valued at approximately $13,644,979.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Nancy Quan sold 18,482 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,398,603.50. The disclosure for this sale can be found here. Insiders have sold 1,074,910 shares of company stock worth $585,972,318 in the last 90 days. Insiders own 0.97% of the company’s stock.

Institutional Trading of Coca-Cola

Institutional investors have recently added to or reduced their stakes in the business. Tidemark LLC purchased a new stake in Coca-Cola during the 4th quarter valued at $26,000. New Millennium Group LLC bought a new position in shares of Coca-Cola during the 2nd quarter valued at $26,000. Private Wealth Management Group LLC bought a new position in shares of Coca-Cola during the 4th quarter valued at $27,000. Quarry LP bought a new position in shares of Coca-Cola during the 2nd quarter valued at $27,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of Coca-Cola during the 1st quarter valued at $28,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

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.