JPMorgan Chase & Co. Reiterates $59.00 Price Target for The Coca-Cola (NYSE:KO)

JPMorgan Chase & Co. set a $59.00 price objective on The Coca-Cola (NYSE:KO) in a research report report published on Friday, Borsen Zeitung reports. The brokerage currently has a neutral rating on the stock.

A number of other research analysts have also weighed in on the stock. HSBC reaffirmed a neutral rating and issued a $52.00 price objective on shares of The Coca-Cola in a research note on Wednesday, July 24th. BMO Capital Markets raised their price objective on shares of The Coca-Cola from $48.00 to $52.00 and gave the company a market perform rating in a research note on Wednesday, July 24th. Credit Suisse Group raised their price objective on shares of The Coca-Cola from $49.00 to $54.00 and gave the company a neutral rating in a research note on Wednesday, July 24th. Deutsche Bank raised their price objective on shares of The Coca-Cola from $59.00 to $60.00 and gave the company a buy rating in a research note on Wednesday, July 24th. Finally, Bank of America reaffirmed a buy rating and issued a $60.00 price objective (up from $55.00) on shares of The Coca-Cola in a research note on Wednesday, July 24th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has an average rating of Hold and a consensus price target of $54.65.

Shares of NYSE KO opened at $54.23 on Friday. The firm has a market cap of $230.01 billion, a PE ratio of 26.07, a P/E/G ratio of 3.74 and a beta of 0.45. The Coca-Cola has a 12-month low of $44.42 and a 12-month high of $55.92. The company’s fifty day simple moving average is $54.26 and its 200 day simple moving average is $51.62. The company has a quick ratio of 0.71, a current ratio of 0.83 and a debt-to-equity ratio of 1.44.

The Coca-Cola (NYSE:KO) last issued its earnings results on Friday, October 18th. The company reported $0.56 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.56. The business had revenue of $9.51 billion for the quarter, compared to analyst estimates of $9.42 billion. The Coca-Cola had a net margin of 21.11% and a return on equity of 45.67%. The Coca-Cola’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 earnings per share. On average, equities analysts predict that The Coca-Cola will post 2.1 earnings per share for the current year.

In related news, insider Nikolaos Koumettis sold 146,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $54.31, for a total transaction of $7,929,260.00. Following the transaction, the insider now directly owns 244,451 shares of the company’s stock, valued at $13,276,133.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Francisco Crespo sold 130,637 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $55.15, for a total transaction of $7,204,630.55. Following the transaction, the senior vice president now directly owns 139,975 shares in the company, valued at $7,719,621.25. The disclosure for this sale can be found here. Insiders have sold 406,512 shares of company stock worth $22,175,713 over the last three months. 1.33% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in KO. FCA Corp TX purchased a new position in The Coca-Cola during the second quarter valued at approximately $211,000. Davy Asset Management Ltd purchased a new position in The Coca-Cola during the second quarter valued at approximately $891,000. Curbstone Financial Management Corp grew its stake in The Coca-Cola by 6.0% during the second quarter. Curbstone Financial Management Corp now owns 20,550 shares of the company’s stock valued at $1,046,000 after acquiring an additional 1,170 shares in the last quarter. L & S Advisors Inc grew its stake in The Coca-Cola by 283.6% during the second quarter. L & S Advisors Inc now owns 63,072 shares of the company’s stock valued at $3,212,000 after acquiring an additional 46,632 shares in the last quarter. Finally, Marathon Capital Management grew its stake in The Coca-Cola by 7.0% during the second quarter. Marathon Capital Management now owns 10,851 shares of the company’s stock valued at $552,000 after acquiring an additional 712 shares in the last quarter. 67.51% of the stock is currently owned by institutional investors.

About The Coca-Cola

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; 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.

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

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