The Coca-Cola (NYSE:KO) received a $49.00 price target from stock analysts at Morgan Stanley in a report released on Wednesday. The firm currently has a “neutral” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 6.66% from the stock’s previous close.
Other analysts have also issued reports about the stock. JPMorgan Chase & Co. restated a “$45.12” rating and issued a $49.00 price objective on shares of The Coca-Cola in a report on Wednesday, July 18th. TheStreet upgraded shares of The Coca-Cola from a “c+” rating to a “b-” rating in a report on Tuesday, July 17th. Royal Bank of Canada set a $56.00 price objective on shares of The Coca-Cola and gave the stock a “buy” rating in a report on Wednesday, July 25th. SunTrust Banks raised their price objective on shares of The Coca-Cola to $55.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. Finally, Morningstar set a $49.00 price objective on shares of The Coca-Cola and gave the stock a “buy” rating in a report on Wednesday, August 8th. Fourteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The Coca-Cola has an average rating of “Hold” and an average target price of $50.31.
KO traded up $0.09 on Wednesday, hitting $45.94. The company had a trading volume of 67,405 shares, compared to its average volume of 10,272,203. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.15 and a quick ratio of 1.06. The Coca-Cola has a 52-week low of $41.45 and a 52-week high of $48.62. The firm has a market capitalization of $194.87 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 2.82 and a beta of 0.74.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, July 25th. The company reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The Coca-Cola had a net margin of 7.18% and a return on equity of 40.68%. The business had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.54 billion. During the same period last year, the business posted $0.59 earnings per share. The Coca-Cola’s quarterly revenue was down 8.3% compared to the same quarter last year. analysts expect that The Coca-Cola will post 2.07 EPS for the current fiscal year.
In related news, insider John Murphy sold 56,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 25th. The shares were sold at an average price of $46.48, for a total transaction of $2,602,880.00. Following the completion of the sale, the insider now owns 140,869 shares of the company’s stock, valued at $6,547,591.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kathy N. Waller sold 48,354 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $46.45, for a total transaction of $2,246,043.30. Following the sale, the vice president now directly owns 200,725 shares of the company’s stock, valued at approximately $9,323,676.25. The disclosure for this sale can be found here. Insiders have sold 215,822 shares of company stock valued at $10,027,727 in the last three months. 1.48% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in KO. BlackRock Inc. grew its position in The Coca-Cola by 1.9% in the 1st quarter. BlackRock Inc. now owns 246,505,322 shares of the company’s stock worth $10,705,725,000 after purchasing an additional 4,526,566 shares during the period. Kabarec Financial Advisors Ltd. bought a new stake in The Coca-Cola in the 2nd quarter worth approximately $232,000. GHP Investment Advisors Inc. grew its position in The Coca-Cola by 23.4% in the 2nd quarter. GHP Investment Advisors Inc. now owns 12,933 shares of the company’s stock worth $567,000 after purchasing an additional 2,449 shares during the period. Oppenheimer Asset Management Inc. grew its position in The Coca-Cola by 1.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 74,749 shares of the company’s stock worth $3,246,000 after purchasing an additional 1,361 shares during the period. Finally, Drexel Morgan & Co. grew its position in The Coca-Cola by 5.6% in the 2nd quarter. Drexel Morgan & Co. now owns 41,018 shares of the company’s stock worth $1,799,000 after purchasing an additional 2,193 shares during the period. 65.27% of the stock is owned by institutional investors.
The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plant?based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
See Also: Return on Equity (ROE)
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