Coca-Cola (NYSE:KO) had its target price hoisted by RBC Capital from $47.00 to $51.00 in a report issued on Thursday, MarketBeat.com reports. RBC Capital currently has an outperform rating on the stock.
Coca-Cola (NYSE:KO) opened at 44.88 on Thursday. The company has a 50-day moving average of $43.21 and a 200 day moving average of $41.90. Coca-Cola has a 12-month low of $36.56 and a 12-month high of $45.26. The stock has a market cap of $194.31 billion and a price-to-earnings ratio of 26.87.
Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, February 9th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.37 by $0.01. During the same quarter last year, the firm posted $0.44 earnings per share. The business earned $10 billion during the quarter, compared to the consensus estimate of $9.96 billion. Coca-Cola ‘s revenue was down 8.0% compared to the same quarter last year. Equities analysts anticipate that Coca-Cola will post $1.94 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 1st. Stockholders of record on Tuesday, March 15th will be issued a dividend of $0.35 per share. This is a boost from Coca-Cola ‘s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, March 11th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.10%.
In other news, insider Atul Singh sold 33,760 shares of the business’s stock in a transaction that occurred on Wednesday, December 16th. The stock was sold at an average price of $43.75, for a total transaction of $1,477,000.00. Following the sale, the insider now directly owns 49,547 shares in the company, valued at $2,167,681.25. The transaction was disclosed in a document filed with the SEC, which is accessible throughthe SEC website. Also, EVP Alexander B. Cummings, Jr. sold 640,000 shares of the business’s stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $43.72, for a total value of $27,980,800.00. Following the sale, the executive vice president now owns 320,000 shares in the company, valued at $13,990,400.
Several hedge funds have recently added to or reduced their stakes in KO. Armbruster Capital Management Inc. purchased a new stake in Coca-Cola during the fourth quarter worth about $318,000. Beaumont Financial Partners LLC boosted its stake in Coca-Cola by 32.2% in the fourth quarter. Beaumont Financial Partners LLC now owns 7,886 shares of the company’s stock worth $339,000 after buying an additional 1,919 shares in the last quarter. Breton Hill Capital Ltd. boosted its stake in Coca-Cola by 8.1% in the fourth quarter. Breton Hill Capital Ltd. now owns 9,268 shares of the company’s stock worth $398,000 after buying an additional 697 shares in the last quarter. Evanson Asset Management LLC boosted its stake in Coca-Cola by 2.8% in the fourth quarter. Evanson Asset Management LLC now owns 10,072 shares of the company’s stock worth $433,000 after buying an additional 276 shares in the last quarter. Finally, Bank of Stockton boosted its stake in Coca-Cola by 2.2% in the fourth quarter. Bank of Stockton now owns 10,156 shares of the company’s stock worth $436,000 after buying an additional 216 shares in the last quarter.
A number of other brokerages have also recently weighed in on KO. Vetr cut Coca-Cola from a buy rating to a hold rating and set a $43.03 price target on the stock. in a research note on Wednesday, November 11th. Deutsche Bank reaffirmed a buy rating and set a $48.00 target price on shares of Coca-Cola in a research note on Sunday, November 22nd. Sanford C. Bernstein reaffirmed an outperform rating on shares of Coca-Cola in a research note on Wednesday, December 2nd. Tigress Financial cut Coca-Cola from a buy rating to a neutral rating in a research note on Friday, December 4th. Finally, Zacks Investment Research cut Coca-Cola from a hold rating to a sell rating in a research note on Monday, January 4th. Thirteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Coca-Cola currently has a consensus rating of Hold and an average target price of $46.60.
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets more than 500 nonalcoholic beverage brands, primarily sparkling beverages but also a range of still beverages, such as waters, enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks.
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