Coca-Cola Co. (KO) Downgraded by Stifel Nicolaus to Hold
KO has been the subject of several other reports. Credit Suisse Group AG assumed coverage on Coca-Cola in a report on Thursday, September 15th. They set a neutral rating and a $44.00 target price for the company. Vetr lowered Coca-Cola from a strong-buy rating to a buy rating and set a $46.93 target price for the company. in a report on Thursday, September 15th. Societe Generale set a $44.00 target price on Coca-Cola and gave the company a neutral rating in a report on Monday, August 8th. Susquehanna reaffirmed a hold rating and set a $39.00 target price on shares of Coca-Cola in a report on Sunday, June 5th. Finally, Jefferies Group reaffirmed a hold rating on shares of Coca-Cola in a report on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company’s stock. Coca-Cola currently has an average rating of Hold and an average price target of $46.75.
Coca-Cola (NYSE:KO) traded up 0.559% on Thursday, reaching $42.265. The company had a trading volume of 1,710,491 shares. The firm has a market capitalization of $182.42 billion, a PE ratio of 24.318 and a beta of 0.57. Coca-Cola has a 12 month low of $39.36 and a 12 month high of $47.13. The stock has a 50 day moving average of $43.16 and a 200 day moving average of $44.64.
Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. Coca-Cola had a return on equity of 32.78% and a net margin of 17.61%. The firm had revenue of $11.50 billion for the quarter, compared to analysts’ expectations of $11.69 billion. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Coca-Cola’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, analysts anticipate that Coca-Cola will post $1.91 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be issued a $0.35 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.33%. Coca-Cola’s payout ratio is currently 80.46%.
Several hedge funds have recently added to or reduced their stakes in KO. Franklin Resources Inc. raised its stake in Coca-Cola by 444.7% in the second quarter. Franklin Resources Inc. now owns 7,849,538 shares of the company’s stock worth $355,819,000 after buying an additional 6,408,420 shares during the last quarter. Vanguard Group Inc. raised its stake in Coca-Cola by 2.0% in the second quarter. Vanguard Group Inc. now owns 273,897,295 shares of the company’s stock worth $12,415,764,000 after buying an additional 5,478,675 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in Coca-Cola during the second quarter worth $233,278,000. Canada Pension Plan Investment Board increased its position in Coca-Cola by 1,282.8% in the first quarter. Canada Pension Plan Investment Board now owns 4,442,458 shares of the company’s stock worth $206,086,000 after buying an additional 4,121,188 shares during the period. Finally, Janus Capital Management LLC increased its position in Coca-Cola by 40.9% in the second quarter. Janus Capital Management LLC now owns 13,411,916 shares of the company’s stock worth $607,938,000 after buying an additional 3,891,114 shares during the period. Institutional investors own 64.33% of the company’s stock.
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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