Coca-Cola (NYSE:KO) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of Coca-Cola (NYSE:KO) from a buy rating to a hold rating in a research note released on Friday.

Several other analysts have also recently issued reports on the company. Argus upped their target price on Coca-Cola from $70.00 to $72.00 and gave the company a buy rating in a report on Wednesday, May 22nd. Morgan Stanley increased their price target on Coca-Cola from $68.00 to $70.00 and gave the stock an overweight rating in a report on Monday, June 10th. JPMorgan Chase & Co. increased their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an overweight rating in a report on Wednesday, May 1st. Evercore ISI increased their price target on Coca-Cola from $67.00 to $70.00 and gave the stock an outperform rating in a report on Wednesday, May 1st. Finally, UBS Group increased their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a buy rating in a report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $68.55.

Coca-Cola Stock Up 0.1 %

NYSE KO opened at $62.62 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The company has a fifty day moving average of $61.92 and a two-hundred day moving average of $60.51. The firm has a market capitalization of $269.76 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 3.53 and a beta of 0.59. Coca-Cola has a 52 week low of $51.55 and a 52 week high of $64.36.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts predict that Coca-Cola will post 2.82 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.485 per share. The ex-dividend date is Friday, June 14th. This represents a $1.94 annualized dividend and a yield of 3.10%. Coca-Cola’s dividend payout ratio is presently 77.60%.

Insider Transactions at Coca-Cola

In other news, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total value of $1,224,645.76. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,168,055.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Beatriz R. Perez sold 57,298 shares of Coca-Cola stock in a transaction on 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 sale, the executive vice president now owns 167,107 shares of the company’s stock, valued at $10,358,962.93. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total value of $1,224,645.76. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $14,168,055.20. The disclosure for this sale can be found here. Insiders sold a total of 142,774 shares of company stock valued at $8,952,720 over the last three months. 0.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coca-Cola

A number of institutional investors have recently added to or reduced their stakes in the company. Keynote Financial Services LLC purchased a new stake in shares of Coca-Cola in the first quarter worth about $982,000. Jackson Wealth Management LLC boosted its position in shares of Coca-Cola by 14.4% in the first quarter. Jackson Wealth Management LLC now owns 53,771 shares of the company’s stock worth $3,290,000 after buying an additional 6,768 shares during the period. American Trust boosted its position in shares of Coca-Cola by 4.9% in the first quarter. American Trust now owns 13,683 shares of the company’s stock worth $837,000 after buying an additional 638 shares during the period. OMC Financial Services LTD acquired a new position in shares of Coca-Cola in the first quarter worth about $699,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Coca-Cola by 16.1% in the first quarter. EverSource Wealth Advisors LLC now owns 12,419 shares of the company’s stock worth $767,000 after acquiring an additional 1,722 shares in the last quarter. Hedge funds and other 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.