Barclays Boosts Coca-Cola (NYSE:KO) Price Target to $69.00

Coca-Cola (NYSE:KO - Free Report) had its price target increased by Barclays from $68.00 to $69.00 in a report released on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also weighed in on the company. UBS Group boosted their price objective on Coca-Cola from $70.00 to $72.00 and gave the company a buy rating in a report on Wednesday. Citigroup boosted their price objective on Coca-Cola from $67.00 to $68.00 and gave the company a buy rating in a report on Wednesday, January 17th. Evercore ISI boosted their price objective on Coca-Cola from $67.00 to $70.00 and gave the company an outperform rating in a report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an overweight rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $68.27.

Coca-Cola Stock Up 0.1 %

Shares of KO traded up $0.06 during midday trading on Thursday, reaching $61.99. 10,972,177 shares of the company were exchanged, compared to its average volume of 14,049,345. The stock has a 50-day moving average price of $60.22 and a 200-day moving average price of $59.06. The company has a market cap of $267.25 billion, a price-to-earnings ratio of 24.80, a P/E/G ratio of 3.53 and a beta of 0.57. Coca-Cola has a 1-year low of $51.55 and a 1-year high of $64.25. The company has a current ratio of 1.04, a quick ratio of 0.95 and a debt-to-equity ratio of 1.26.

Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, topping 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 business had revenue of $11.30 billion for the quarter, compared to analysts' expectations of $11.01 billion. During the same quarter in the previous year, the firm posted $0.68 earnings per share. The company's revenue was up 2.7% compared to the same quarter last year. Research analysts expect that Coca-Cola will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.13%. This is a positive change from Coca-Cola's previous quarterly dividend of $0.46. The ex-dividend date was Thursday, March 14th. Coca-Cola's dividend payout ratio is 77.60%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Coca-Cola

Several hedge funds have recently bought and sold shares of the business. Morgan Stanley boosted its holdings in Coca-Cola by 2.5% during the third quarter. Morgan Stanley now owns 80,448,083 shares of the company's stock valued at $4,503,484,000 after acquiring an additional 1,950,146 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Coca-Cola by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 63,138,970 shares of the company's stock valued at $3,501,789,000 after acquiring an additional 2,464,618 shares during the period. Norges Bank bought a new stake in shares of Coca-Cola in the fourth quarter valued at about $2,808,056,000. Northern Trust Corp lifted its stake in shares of Coca-Cola by 4.8% in the third quarter. Northern Trust Corp now owns 44,913,068 shares of the company's stock valued at $2,514,234,000 after buying an additional 2,040,664 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Coca-Cola by 7.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 40,564,179 shares of the company's stock valued at $2,390,448,000 after buying an additional 2,893,061 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

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.