Coca-Cola Company (The) (NYSE:KO) Stock Rating Lowered by Zacks Investment Research

Coca-Cola Company (The) (NYSE:KO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, August 1st.

According to Zacks, “Coca-Cola reported better-than-expected second-quarter 2017 results. Lower SG&A expense (down 19.9%), higher gross margin (up 210 basis points or bps), and higher operating margin (up 375 bps) helped it to come up with better numbers. Organic revenues were up 3%, driven by 3% growth in price/mix. However, Coca-Cola's total sales decreased 16%, marking the ninth consecutive quarterly decline in revenue. Although top line need to show sustained improvement, we are encouraged by the company’s strategic efforts in making its portfolio as a total beverage company with improved marketing and innovation, focus on driving revenues by improved price/mix, digital focus, and productivity initiatives toward driving margins. Further, successful rollout of Coke Zero Sugar globally (growing mid-teens), as evident from Coca-Cola’s ability to leverage successful innovation to support top-line growth, is quite encouraging.”

Other analysts have also recently issued research reports about the stock. Deutsche Bank AG reaffirmed a “hold” rating and issued a $46.00 target price (up previously from $44.00) on shares of Coca-Cola Company (The) in a report on Thursday, July 27th. BMO Capital Markets reduced their target price on shares of Coca-Cola Company (The) from $47.00 to $46.00 and set a “market perform” rating on the stock in a report on Monday, July 31st. Vetr cut shares of Coca-Cola Company (The) from a “hold” rating to a “sell” rating and set a $44.58 target price on the stock. in a report on Monday, June 5th. BidaskClub raised shares of Coca-Cola Company (The) from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Finally, Susquehanna Bancshares Inc set a $39.00 target price on shares of Coca-Cola Company (The) and gave the company a “hold” rating in a report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $45.70.

Coca-Cola Company (NYSE:KO) opened at 45.59 on Tuesday. The firm’s 50-day moving average is $45.14 and its 200-day moving average is $43.57. The stock has a market cap of $194.46 billion, a P/E ratio of 48.14 and a beta of 0.69. Coca-Cola Company has a 52-week low of $39.88 and a 52-week high of $46.43.

Coca-Cola Company (The) (NYSE:KO) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.02. The business had revenue of $9.70 billion for the quarter, compared to analysts’ expectations of $9.62 billion. Coca-Cola Company (The) had a net margin of 10.68% and a return on equity of 34.53%. The business’s quarterly revenue was down 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 earnings per share. Equities research analysts predict that Coca-Cola Company will post $1.90 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “Coca-Cola Company (The) (NYSE:KO) Stock Rating Lowered by Zacks Investment Research” was first posted by Transcript Daily and is the property of of Transcript Daily. If you are viewing this piece on another website, it was illegally stolen and reposted in violation of U.S. & international copyright legislation. The original version of this piece can be viewed at https://transcriptdaily.com/2017/08/13/zacks-investment-research-downgrades-coca-cola-company-the-nyseko-to-hold-updated.html.

In related news, insider Irial Finan sold 354,146 shares of Coca-Cola Company (The) stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $45.00, for a total value of $15,936,570.00. Following the transaction, the insider now directly owns 780,258 shares in the company, valued at approximately $35,111,610. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark Randazza sold 24,156 shares of Coca-Cola Company (The) stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $46.01, for a total transaction of $1,111,417.56. Following the completion of the transaction, the insider now owns 26,567 shares in the company, valued at $1,222,347.67. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 614,841 shares of company stock worth $27,900,186. Insiders own 1.51% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Coca-Cola Company (The) by 1.8% in the second quarter. Vanguard Group Inc. now owns 275,221,018 shares of the company’s stock worth $12,343,662,000 after buying an additional 4,818,963 shares during the period. BlackRock Inc. raised its position in Coca-Cola Company (The) by 0.3% in the second quarter. BlackRock Inc. now owns 241,677,773 shares of the company’s stock worth $10,839,247,000 after buying an additional 750,257 shares during the period. State Street Corp raised its position in Coca-Cola Company (The) by 1.2% in the first quarter. State Street Corp now owns 173,789,519 shares of the company’s stock worth $7,375,663,000 after buying an additional 2,009,675 shares during the period. Northern Trust Corp raised its position in Coca-Cola Company (The) by 4.5% in the second quarter. Northern Trust Corp now owns 50,761,341 shares of the company’s stock worth $2,276,647,000 after buying an additional 2,167,225 shares during the period. Finally, Norges Bank purchased a new position in Coca-Cola Company (The) during the fourth quarter worth $1,486,731,000. Hedge funds and other institutional investors own 63.68% of the company’s stock.

About Coca-Cola Company (The)

The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.

Get a free copy of the Zacks research report on Coca-Cola Company (The) (KO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Coca-Cola Company (The) (NYSE:KO)

Receive News & Ratings for Coca-Cola Company (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coca-Cola Company (The) and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply