RBC Capital Markets Analysts Give Coca-Cola Co. (KO) a $49.00 Price Target
Coca-Cola Co. (NYSE:KO) has been assigned a $49.00 price target by research analysts at RBC Capital Markets in a research report issued to clients and investors on Thursday. The brokerage presently has a a “buy” rating on the stock. RBC Capital Markets’ target price points to a potential upside of 17.28% from the company’s current price.
A number of other equities analysts have also recently issued reports on the stock. Vetr raised shares of Coca-Cola from a “buy” rating to a “strong-buy” rating and set a $46.56 price objective on the stock in a research note on Tuesday. Zacks Investment Research cut shares of Coca-Cola from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Stifel Nicolaus reaffirmed a “neutral” rating on shares of Coca-Cola in a research note on Friday, September 30th. Citigroup Inc. reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Coca-Cola in a research note on Monday, September 19th. Finally, Credit Suisse Group AG initiated coverage on shares of Coca-Cola in a research report on Thursday, September 15th. They set a “neutral” rating and a $44.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $46.60.
Coca-Cola (NYSE:KO) traded down 0.43% during trading on Thursday, hitting $41.60. 4,780,875 shares of the stock were exchanged. The stock has a 50 day moving average price of $42.61 and a 200-day moving average price of $44.40. The firm has a market capitalization of $179.55 billion, a PE ratio of 23.94 and a beta of 0.59. Coca-Cola has a 12-month low of $40.75 and a 12-month high of $47.13.
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 analysts’ consensus estimates of $0.58 by $0.02. Coca-Cola had a net margin of 17.61% and a return on equity of 32.78%. The firm had revenue of $11.50 billion for the quarter, compared to analysts’ expectations of $11.69 billion. During the same period last year, the firm earned $0.63 earnings per share. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, equities research analysts anticipate that Coca-Cola will post $1.91 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $1.40 annualized dividend and a dividend yield of 3.35%. 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. MCF Advisors LLC raised its position in shares of Coca-Cola by 10.0% in the second quarter. MCF Advisors LLC now owns 2,208 shares of the company’s stock worth $100,000 after buying an additional 200 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Coca-Cola by 562.1% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,483 shares of the company’s stock worth $113,000 after buying an additional 2,108 shares during the period. Country Trust Bank raised its position in shares of Coca-Cola by 25.0% in the second quarter. Country Trust Bank now owns 2,500 shares of the company’s stock worth $113,000 after buying an additional 500 shares during the period. Lenox Wealth Management Inc. raised its position in shares of Coca-Cola by 38.0% in the second quarter. Lenox Wealth Management Inc. now owns 2,611 shares of the company’s stock worth $118,000 after buying an additional 719 shares during the period. Finally, Tradewinds Capital Management LLC raised its position in shares of Coca-Cola by 6.8% in the second quarter. Tradewinds Capital Management LLC now owns 2,744 shares of the company’s stock worth $124,000 after buying an additional 174 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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