The Coca-Cola Company (NYSE:KO) Given Consensus Rating of “Buy” by Brokerages

The Coca-Cola Company (NYSE:KO) has earned a consensus rating of “Buy” from the nineteen analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $74.24.

Several analysts recently issued reports on the company. Barclays increased their price objective on Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Wells Fargo & Company lifted their price target on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Piper Sandler boosted their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Finally, Morgan Stanley raised their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th.

Coca-Cola Stock Up 0.4 %

Shares of Coca-Cola stock opened at $68.97 on Tuesday. Coca-Cola has a 1 year low of $57.93 and a 1 year high of $73.53. The company has a market cap of $296.81 billion, a P/E ratio of 27.92, a P/E/G ratio of 3.79 and a beta of 0.57. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The stock has a 50-day moving average price of $67.15 and a 200 day moving average price of $66.42.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. As a group, analysts expect that Coca-Cola will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.96%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio is currently 82.59%.

Insider Buying and Selling

In related news, COO Henrique Braun sold 25,277 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total value of $1,806,547.19. Following the completion of the transaction, the chief operating officer now directly owns 52,466 shares of the company’s stock, valued at $3,749,745.02. This trade represents a 32.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nikolaos Koumettis sold 54,708 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the transaction, the insider now owns 246,909 shares of the company’s stock, valued at approximately $17,520,662.64. This represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 313,423 shares of company stock valued at $22,263,071 over the last three months. 0.97% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coca-Cola

Large investors have recently modified their holdings of the stock. Rice Partnership LLC boosted its position in Coca-Cola by 7.1% in the fourth quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock valued at $6,397,000 after buying an additional 6,793 shares in the last quarter. Fiduciary Alliance LLC boosted its holdings in shares of Coca-Cola by 87.7% in the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after acquiring an additional 8,499 shares in the last quarter. Wellington Management Group LLP grew its position in Coca-Cola by 14.5% during the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after acquiring an additional 4,013,996 shares during the last quarter. OneAscent Wealth Management LLC acquired a new stake in Coca-Cola during the 3rd quarter valued at $738,000. Finally, Richard C. Young & CO. LTD. raised its position in Coca-Cola by 9.0% in the 3rd quarter. Richard C. Young & CO. LTD. now owns 158,900 shares of the company’s stock valued at $11,419,000 after purchasing an additional 13,110 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

About Coca-Cola

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.