UBS Group Cuts CocaCola (NYSE:KO) Price Target to $84.00

CocaCola (NYSE:KO - Free Report) had its target price trimmed by UBS Group from $86.00 to $84.00 in a research report released on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts have also recently weighed in on KO. BNP Paribas reaffirmed an "outperform" rating and set a $83.00 price objective on shares of CocaCola in a research note on Monday. JPMorgan Chase & Co. upped their price objective on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research note on Wednesday. Barclays reaffirmed an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the company an "outperform" rating in a research note on Monday. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $77.21.

CocaCola Stock Down 0.3%

NYSE:KO traded down $0.20 during trading hours on Wednesday, reaching $68.90. The company's stock had a trading volume of 2,151,146 shares, compared to its average volume of 17,290,480. The company has a market cap of $296.55 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 3.61 and a beta of 0.45. CocaCola has a one year low of $60.62 and a one year high of $74.38. The business's 50-day moving average is $70.69 and its 200-day moving average is $69.28. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.89.

CocaCola (NYSE:KO - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.04. The firm had revenue of $12.50 billion during the quarter, compared to analyst estimates of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The business's revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 EPS. Equities research analysts predict that CocaCola will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.96%. CocaCola's payout ratio is 72.34%.

Insider Buying and Selling

In related news, CEO James Quincey sold 266,403 shares of the firm's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the sale, the chief executive officer directly owned 275,946 shares in the company, valued at $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the sale, the executive vice president owned 187,716 shares in the company, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 415,387 shares of company stock worth $29,923,985 over the last ninety days. Company insiders own 0.97% of the company's stock.

Institutional Investors Weigh In On CocaCola

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MorganRosel Wealth Management LLC bought a new stake in shares of CocaCola during the 1st quarter worth about $25,000. 1248 Management LLC bought a new stake in shares of CocaCola during the 1st quarter worth about $26,000. Garde Capital Inc. bought a new stake in shares of CocaCola during the 1st quarter worth about $30,000. Mizuho Securities Co. Ltd. boosted its holdings in shares of CocaCola by 360.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after buying an additional 360 shares during the period. Finally, Ridgewood Investments LLC boosted its holdings in CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock valued at $34,000 after purchasing an additional 285 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

CocaCola 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.