Coca-Cola (NYSE:KO) Price Target Increased to $72.00 by Analysts at UBS Group

Coca-Cola (NYSE:KO) had its target price raised by UBS Group from $70.00 to $72.00 in a report released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. increased their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an overweight rating in a research report on Wednesday. Barclays increased their price objective on shares of Coca-Cola from $66.00 to $68.00 and gave the stock an overweight rating in a report on Friday, April 12th. Citigroup boosted their target price on shares of Coca-Cola from $67.00 to $68.00 and gave the company a buy rating in a research note on Wednesday, January 17th. Finally, Evercore ISI raised their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the company an outperform rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $68.18.

Coca-Cola Stock Performance

KO stock opened at $61.92 on Wednesday. The firm has a market cap of $266.95 billion, a P/E ratio of 24.77, a P/E/G ratio of 3.53 and a beta of 0.57. The stock’s 50 day simple moving average is $60.21 and its 200 day simple moving average is $59.04. The company has a current ratio of 1.04, a quick ratio of 0.95 and a debt-to-equity ratio of 1.26. Coca-Cola has a 12-month low of $51.55 and a 12-month high of $64.25.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The company had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same period in the prior year, the company earned $0.68 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts predict that Coca-Cola will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a dividend of $0.485 per share. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Thursday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insider Activity

In related news, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James Quincey sold 247,188 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 323,107 shares of company stock worth $19,657,742. 0.97% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coca-Cola

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in Coca-Cola during the fourth quarter valued at about $2,808,056,000. Fisher Asset Management LLC raised its holdings in shares of Coca-Cola by 11,138.6% during the fourth quarter. Fisher Asset Management LLC now owns 4,977,819 shares of the company’s stock valued at $293,343,000 after acquiring an additional 4,933,527 shares during the period. Pathstone Holdings LLC purchased a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $193,342,000. Putnam Investments LLC boosted its stake in Coca-Cola by 32.8% in the 4th quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock worth $709,051,000 after purchasing an additional 2,973,234 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Coca-Cola by 7.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 40,564,179 shares of the company’s stock worth $2,390,448,000 after purchasing an additional 2,893,061 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.