Coca-Cola (NYSE:KO) Given New $72.00 Price Target at UBS Group

Coca-Cola (NYSE:KO) had its price objective increased by UBS Group from $70.00 to $72.00 in a report published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued research reports about the stock. Barclays lifted their target price on shares of Coca-Cola from $66.00 to $68.00 and gave the company an overweight rating in a research note on Friday, April 12th. Evercore ISI lifted their price objective on Coca-Cola from $67.00 to $70.00 and gave the company an outperform rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an overweight rating in a research note on Wednesday. Finally, Citigroup raised their target price on Coca-Cola from $67.00 to $68.00 and gave the company a buy rating in a research note on Wednesday, January 17th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $68.18.

Coca-Cola Stock Performance

Coca-Cola stock opened at $61.92 on Wednesday. The firm has a market capitalization of $266.95 billion, a P/E ratio of 24.77, a P/E/G ratio of 3.53 and a beta of 0.57. The stock has a fifty day moving average price of $60.21 and a two-hundred day moving average price of $59.04. Coca-Cola has a 52-week low of $51.55 and a 52-week high of $64.25. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.95.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The business had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter last year, the company posted $0.68 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, analysts anticipate that Coca-Cola will post 2.81 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.13%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Nancy Quan sold 57,368 shares of Coca-Cola stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $13,594,097.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 323,107 shares of company stock worth $19,657,742. 0.97% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of KO. Enterprise Bank & Trust Co increased its stake in Coca-Cola by 3.4% in the fourth quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock valued at $296,000 after purchasing an additional 167 shares in the last quarter. Community Bank & Trust Waco Texas increased its position in Coca-Cola by 0.6% in the 1st quarter. Community Bank & Trust Waco Texas now owns 30,262 shares of the company’s stock valued at $1,851,000 after buying an additional 168 shares in the last quarter. Goelzer Investment Management Inc. grew its stake 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 acquiring an additional 169 shares during the period. Elk River Wealth Management LLC increased its holdings in shares of Coca-Cola by 1.6% during the fourth quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock valued at $639,000 after acquiring an additional 170 shares in the last quarter. Finally, KRS Capital Management LLC raised its position in shares of Coca-Cola by 3.8% during the fourth quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock worth $274,000 after purchasing an additional 170 shares during the period. 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.