The Coca-Cola (NYSE:KO) had its price objective lifted by investment analysts at Bank of America from $60.00 to $64.00 in a research report issued to clients and investors on Thursday, Briefing.com reports. The brokerage presently has a "buy" rating on the stock. Bank of America's price objective would suggest a potential upside of 13.37% from the stock's current price.
Several other brokerages have also recently weighed in on KO. Jefferies Financial Group increased their price objective on shares of The Coca-Cola from $57.00 to $59.00 and gave the stock a "hold" rating in a research note on Friday, July 16th. Truist increased their price objective on shares of The Coca-Cola from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday. UBS Group increased their price objective on shares of The Coca-Cola from $59.00 to $62.00 and gave the stock a "buy" rating in a research note on Thursday. Citigroup increased their target price on shares of The Coca-Cola from $57.00 to $60.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of The Coca-Cola from $58.00 to $60.00 and gave the stock a "hold" rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of "Buy" and an average price target of $61.25.
KO traded down $0.10 during midday trading on Thursday, hitting $56.45. 185,130 shares of the company traded hands, compared to its average volume of 13,722,054. The company has a quick ratio of 1.13, a current ratio of 1.33 and a debt-to-equity ratio of 1.80. The firm has a market cap of $243.39 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 3.35 and a beta of 0.61. The firm has a 50-day moving average of $54.97. The Coca-Cola has a 52 week low of $46.22 and a 52 week high of $57.56.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 20th. The company reported $0.68 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $0.56 by $0.12. The Coca-Cola had a net margin of 21.59% and a return on equity of 41.48%. The firm had revenue of $10.10 billion for the quarter, compared to analysts' expectations of $9.30 billion. During the same quarter in the prior year, the business earned $0.42 EPS. The business's quarterly revenue was up 40.3% on a year-over-year basis. On average, analysts expect that The Coca-Cola will post 2.19 EPS for the current year.
In related news, SVP Nancy Quan sold 19,911 shares of The Coca-Cola stock in a transaction dated Friday, July 16th. The stock was sold at an average price of $56.50, for a total value of $1,124,971.50. Following the completion of the sale, the senior vice president now directly owns 196,745 shares in the company, valued at $11,116,092.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nikolaos Koumettis sold 55,392 shares of The Coca-Cola stock in a transaction dated Friday, June 4th. The shares were sold at an average price of $55.89, for a total value of $3,095,858.88. Following the completion of the sale, the insider now owns 170,403 shares of the company's stock, valued at $9,523,823.67. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 185,303 shares of company stock valued at $10,213,630. Corporate insiders own 1.01% of the company's stock.
Several hedge funds have recently added to or reduced their stakes in KO. Norges Bank bought a new stake in shares of The Coca-Cola in the fourth quarter valued at about $2,345,618,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of The Coca-Cola by 536.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 9,465,534 shares of the company's stock valued at $498,928,000 after acquiring an additional 7,977,794 shares in the last quarter. King Luther Capital Management Corp raised its holdings in shares of The Coca-Cola by 100,495.4% in the first quarter. King Luther Capital Management Corp now owns 4,225,008 shares of the company's stock valued at $222,700,000 after acquiring an additional 4,220,808 shares in the last quarter. Vontobel Asset Management Inc. grew its stake in The Coca-Cola by 49.8% in the first quarter. Vontobel Asset Management Inc. now owns 11,872,856 shares of the company's stock valued at $649,350,000 after purchasing an additional 3,945,728 shares during the last quarter. Finally, Amundi Asset Management US Inc. grew its stake in The Coca-Cola by 47.0% in the first quarter. Amundi Asset Management US Inc. now owns 11,195,967 shares of the company's stock valued at $590,141,000 after purchasing an additional 3,578,349 shares during the last quarter. Hedge funds and other institutional investors own 66.21% of the company's stock.
About The Coca-Cola
The Coca-Cola Co is the nonalcoholic beverage company, which engages in the manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks, water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater, and Ice Dew.
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