The Coca-Cola Company (NYSE:KO) Receives Average Rating of “Moderate Buy” from Brokerages

The Coca-Cola Company (NYSE:KO) has earned an average recommendation of “Moderate Buy” from the sixteen brokerages that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $72.36.

A number of brokerages have weighed in on KO. Truist Financial lifted their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Citigroup increased their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Morgan Stanley dropped their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Wells Fargo & Company boosted their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th.

Coca-Cola Stock Up 1.2 %

Shares of KO opened at $62.58 on Wednesday. The firm has a market capitalization of $269.58 billion, a P/E ratio of 25.86, a P/E/G ratio of 3.75 and a beta of 0.61. Coca-Cola has a 12-month low of $56.96 and a 12-month high of $73.53. The firm has a fifty day moving average price of $68.25 and a 200-day moving average price of $66.55. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 EPS. Equities research analysts expect that Coca-Cola will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.10%. Coca-Cola’s payout ratio is currently 80.17%.

Insider Buying and Selling at Coca-Cola

In related news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. This trade represents a 7.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 160,881 shares of company stock worth $10,693,244. 0.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coca-Cola

Institutional investors have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC raised its stake in Coca-Cola by 17.8% in the 1st quarter. William Blair Investment Management LLC now owns 207,956 shares of the company’s stock valued at $12,723,000 after purchasing an additional 31,397 shares during the last quarter. Koshinski Asset Management Inc. grew its stake in Coca-Cola by 4.6% during the 1st quarter. Koshinski Asset Management Inc. now owns 27,953 shares of the company’s stock valued at $1,710,000 after acquiring an additional 1,242 shares in the last quarter. TD Asset Management Inc raised its holdings in Coca-Cola by 0.7% in the 1st quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock valued at $179,578,000 after acquiring an additional 20,048 shares during the last quarter. Charles Schwab Investment Advisory Inc. purchased a new position in Coca-Cola in the 1st quarter worth approximately $219,000. Finally, D Orazio & Associates Inc. boosted its holdings in shares of Coca-Cola by 15.5% during the 1st quarter. D Orazio & Associates Inc. now owns 8,096 shares of the company’s stock worth $495,000 after purchasing an additional 1,084 shares during the last quarter. Institutional investors and hedge funds 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.