Coca-Cola Co. (KO) Lowered to Buy at Vetr Inc.
Coca-Cola Co. (NYSE:KO) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday. They presently have a $46.50 target price on the stock. Vetr‘s price target would suggest a potential upside of 11.38% from the stock’s previous close.
A number of other analysts have also recently issued reports on the company. TheStreet cut Coca-Cola from a “buy” rating to a “hold” rating in a research report on Wednesday, October 26th. Jefferies Group reissued a “hold” rating and set a $46.00 price objective (up previously from $45.00) on shares of Coca-Cola in a research report on Thursday, October 27th. Goldman Sachs Group Inc. set a $44.00 price objective on Coca-Cola and gave the company a “neutral” rating in a research report on Tuesday, October 25th. RBC Capital Markets set a $49.00 target price on Coca-Cola and gave the company a “buy” rating in a report on Thursday, October 13th. Finally, Zacks Investment Research lowered Coca-Cola from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $46.92.
Shares of Coca-Cola (NYSE:KO) traded up 0.53% on Monday, reaching $41.75. The company had a trading volume of 19,424,412 shares. The firm has a market capitalization of $180.07 billion, a PE ratio of 25.32 and a beta of 0.68. The company has a 50-day moving average price of $41.80 and a 200-day moving average price of $43.49. Coca-Cola has a 52-week low of $40.63 and a 52-week high of $47.13.
Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 26th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The firm earned $10.60 billion during the quarter, compared to analysts’ expectations of $10.47 billion. Coca-Cola had a return on equity of 32.47% and a net margin of 16.99%. The business’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 earnings per share. Equities research analysts forecast that Coca-Cola will post $1.91 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Tuesday, November 29th. Coca-Cola’s payout ratio is currently 84.85%.
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In other news, VP Kathy N. Waller sold 36,342 shares of the business’s stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $42.06, for a total value of $1,528,544.52. Following the transaction, the vice president now directly owns 104,345 shares of the company’s stock, valued at approximately $4,388,750.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.54% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. boosted its position in Coca-Cola by 444.7% in the second quarter. Franklin Resources Inc. now owns 7,849,538 shares of the company’s stock valued at $355,819,000 after buying an additional 6,408,420 shares during the period. Vanguard Group Inc. boosted its position in Coca-Cola by 2.0% in the second quarter. Vanguard Group Inc. now owns 273,897,295 shares of the company’s stock valued at $12,415,764,000 after buying an additional 5,478,675 shares during the period. The Manufacturers Life Insurance Company bought a new position in Coca-Cola during the third quarter valued at $228,851,000. Emerald Acquisition Ltd. bought a new position in Coca-Cola during the second quarter valued at $233,278,000. Finally, Morgan Stanley boosted its position in Coca-Cola by 23.3% in the third quarter. Morgan Stanley now owns 27,072,114 shares of the company’s stock valued at $1,145,691,000 after buying an additional 5,116,100 shares during the period. 62.83% of the stock is currently owned by institutional investors and hedge funds.
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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