Zacks Investment Research Upgrades Coca-Cola Co. (KO) to Hold
Coca-Cola Co. (NYSE:KO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Coca-Cola’s increased marketing investments are supporting improved volume growth in stable markets like North America. Moreover, the accelerated re-franchising efforts should drive greater returns. Also, Coca-Cola’s new revenue platforms should drive growth over the long term. However, the top line needs to show sustained improvement. Though markets like North America, Japan and India remain strong, continued weakness in some emerging markets like China, Russia and Brazil is holding back significant sales acceleration. At the second quarter conference call, it lowered its 2016 sales outlook due to weakening demand in some large emerging/developing markets. Furthermore, weak sparkling beverage volumes as well as currency and structural headwinds over the next couple of years pose threats. “
A number of other analysts have also weighed in on the stock. Independent Research GmbH set a $38.00 price target on shares of Coca-Cola and gave the company a “sell” rating in a report on Monday, August 1st. Vetr lowered shares of Coca-Cola from a “strong-buy” rating to a “buy” rating and set a $46.93 price target for the company. in a report on Thursday, September 15th. Deutsche Bank AG reissued a “buy” rating on shares of Coca-Cola in a report on Sunday, July 24th. SunTrust Banks Inc. reaffirmed a “buy” rating on shares of Coca-Cola in a report on Sunday, July 31st. Finally, Credit Suisse Group AG assumed coverage on shares of Coca-Cola in a report on Thursday, September 15th. They set a “neutral” rating and a $44.00 target price for the company. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $46.75.
Coca-Cola (NYSE:KO) opened at 42.15 on Tuesday. The firm has a market capitalization of $181.92 billion, a P/E ratio of 24.25 and a beta of 0.57. Coca-Cola has a 1-year low of $39.36 and a 1-year high of $47.13. The stock has a 50 day moving average of $43.20 and a 200-day moving average of $44.65.
Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The business earned $11.50 billion during the quarter, compared to analyst estimates of $11.69 billion. Coca-Cola had a net margin of 17.61% and a return on equity of 32.78%. Coca-Cola’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 earnings per share. On average, equities research analysts anticipate that Coca-Cola will post $1.91 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.40 annualized dividend and a dividend yield of 3.32%. Coca-Cola’s dividend payout ratio is presently 80.46%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. New England Private Wealth Advisors LLC raised its position in Coca-Cola by 0.5% in the second quarter. New England Private Wealth Advisors LLC now owns 5,358 shares of the company’s stock valued at $242,000 after buying an additional 25 shares in the last quarter. RFG Advisory Group LLC raised its position in Coca-Cola by 0.7% in the second quarter. RFG Advisory Group LLC now owns 4,709 shares of the company’s stock valued at $213,000 after buying an additional 32 shares in the last quarter. Confluence Wealth Management LLC raised its position in Coca-Cola by 0.7% in the second quarter. Confluence Wealth Management LLC now owns 4,446 shares of the company’s stock valued at $202,000 after buying an additional 33 shares in the last quarter. Verus Financial Partners Inc. raised its position in Coca-Cola by 0.5% in the second quarter. Verus Financial Partners Inc. now owns 7,759 shares of the company’s stock valued at $352,000 after buying an additional 41 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its position in Coca-Cola by 0.7% in the second quarter. Sunbelt Securities Inc. now owns 7,329 shares of the company’s stock valued at $332,000 after buying an additional 51 shares in the last quarter. Institutional investors own 64.33% of the company’s stock.
Coca-Cola Company Profile
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets over 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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