Coca-Cola (NYSE:KO) was downgraded by UBS Group from a "buy" rating to a "sell" rating in a research report issued to clients and investors on Tuesday, The Fly reports.
Several other research firms also recently weighed in on KO. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Coca-Cola from $60.00 to $59.00 and set a "hold" rating for the company in a research note on Friday, October 15th. The Goldman Sachs Group set a $55.00 price target on Coca-Cola in a research report on Thursday, December 9th. Guggenheim raised shares of Coca-Cola from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $61.00 to $66.00 in a report on Tuesday. Evercore ISI reaffirmed a "buy" rating on shares of Coca-Cola in a report on Tuesday, November 9th. Finally, JPMorgan Chase & Co. raised shares of Coca-Cola from a "neutral" rating to an "overweight" rating and upped their price target for the company from $59.00 to $63.00 in a report on Monday, December 13th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $61.56.
Coca-Cola stock traded up $0.95 during trading on Tuesday, reaching $60.25. The company had a trading volume of 585,991 shares, compared to its average volume of 15,835,753. The company has a current ratio of 1.52, a quick ratio of 1.32 and a debt-to-equity ratio of 1.63. The firm's 50-day simple moving average is $56.37 and its 200 day simple moving average is $55.65. The firm has a market capitalization of $260.25 billion, a price-to-earnings ratio of 29.58, a price-to-earnings-growth ratio of 3.17 and a beta of 0.70. Coca-Cola has a 52 week low of $48.11 and a 52 week high of $59.35.
Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, October 26th. The company reported $0.65 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.58 by $0.07. The firm had revenue of $10.04 billion during the quarter, compared to analyst estimates of $9.72 billion. Coca-Cola had a return on equity of 44.22% and a net margin of 23.31%. The business's quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 earnings per share. On average, analysts predict that Coca-Cola will post 2.28 earnings per share for the current year.
In other news, COO Brian John Smith sold 37,000 shares of the firm's stock in a transaction on Friday, November 5th. The shares were sold at an average price of $56.64, for a total value of $2,095,680.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Nancy Quan sold 18,206 shares of the firm's stock in a transaction on Friday, November 5th. The shares were sold at an average price of $56.82, for a total transaction of $1,034,464.92. The disclosure for this sale can be found here. Insiders have sold a total of 118,282 shares of company stock valued at $6,795,662 in the last ninety days. 1.01% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Certified Advisory Corp raised its stake in shares of Coca-Cola by 0.6% during the 3rd quarter. Certified Advisory Corp now owns 30,182 shares of the company's stock valued at $1,583,000 after purchasing an additional 178 shares during the period. Penserra Capital Management LLC raised its stake in shares of Coca-Cola by 24.0% during the 3rd quarter. Penserra Capital Management LLC now owns 924 shares of the company's stock valued at $48,000 after purchasing an additional 179 shares during the period. 1900 Wealth Management LLC increased its stake in Coca-Cola by 3.0% in the 3rd quarter. 1900 Wealth Management LLC now owns 6,440 shares of the company's stock worth $338,000 after acquiring an additional 187 shares during the last quarter. Tufton Capital Management increased its stake in Coca-Cola by 0.3% in the 3rd quarter. Tufton Capital Management now owns 65,951 shares of the company's stock worth $3,460,000 after acquiring an additional 188 shares during the last quarter. Finally, Elgethun Capital Management increased its stake in Coca-Cola by 2.3% in the 3rd quarter. Elgethun Capital Management now owns 8,383 shares of the company's stock worth $440,000 after acquiring an additional 188 shares during the last quarter. 66.59% of the stock is owned by hedge funds and other institutional investors.
Coca-Cola Company Profile
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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