The Coca-Cola (NYSE:KO) Price Target Raised to $65.00 at Truist

The Coca-Cola (NYSE:KO) had its target price increased by Truist from $60.00 to $65.00 in a research report sent to investors on Thursday morning, The Fly reports. They currently have a buy rating on the stock.

Other analysts have also recently issued research reports about the company. Evercore ISI boosted their price target on The Coca-Cola from $60.00 to $63.00 and gave the stock an outperform rating in a research report on Tuesday, April 20th. Citigroup boosted their price objective on The Coca-Cola from $57.00 to $60.00 and gave the stock a neutral rating in a research report on Thursday. Wolfe Research initiated coverage on The Coca-Cola in a research report on Monday, April 12th. They set a peer perform rating for the company. Royal Bank of Canada reissued a buy rating and set a $60.00 price objective on shares of The Coca-Cola in a research report on Wednesday, June 23rd. Finally, Jefferies Financial Group boosted their price objective on The Coca-Cola from $57.00 to $59.00 and gave the stock a hold rating in a research report on Friday, July 16th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The Coca-Cola currently has an average rating of Buy and a consensus price target of $60.33.

Shares of NYSE KO opened at $56.43 on Thursday. The company has a 50-day moving average price of $54.97. The company has a quick ratio of 1.13, a current ratio of 1.33 and a debt-to-equity ratio of 1.80. The Coca-Cola has a one year low of $46.22 and a one year high of $57.56. The stock has a market capitalization of $243.31 billion, a P/E ratio of 33.84, a P/E/G ratio of 3.35 and a beta of 0.61.

The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 20th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.12. The Coca-Cola had a return on equity of 41.48% and a net margin of 21.59%. The company had revenue of $10.10 billion during the quarter, compared to analysts’ expectations of $9.30 billion. During the same quarter in the previous year, the firm earned $0.42 earnings per share. The business’s quarterly revenue was up 40.3% compared to the same quarter last year. On average, equities research analysts forecast that The Coca-Cola will post 2.19 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Wednesday, September 15th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, September 14th. This represents a $1.68 annualized dividend and a dividend yield of 2.98%. The Coca-Cola’s dividend payout ratio is currently 86.15%.

In related news, SVP Nancy Quan sold 19,911 shares of the stock in a transaction that occurred on Friday, July 16th. The stock was sold at an average price of $56.50, for a total transaction of $1,124,971.50. Following the sale, the senior vice president now directly owns 196,745 shares in the company, valued at approximately $11,116,092.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Nikolaos Koumettis sold 55,392 shares of the stock in a transaction that occurred on Friday, June 4th. The stock was sold at an average price of $55.89, for a total value of $3,095,858.88. Following the sale, the insider now owns 170,403 shares in the company, valued at $9,523,823.67. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 185,303 shares of company stock worth $10,213,630. 1.01% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the business. Retirement Group LLC lifted its holdings in The Coca-Cola by 70.4% during the 1st quarter. Retirement Group LLC now owns 484 shares of the company’s stock worth $26,000 after buying an additional 200 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its holdings in The Coca-Cola by 136.3% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,229 shares of the company’s stock worth $28,000 after buying an additional 709 shares in the last quarter. Paradigm Strategies in Wealth Management LLC acquired a new position in The Coca-Cola during the 1st quarter worth $29,000. Elkhorn Partners Limited Partnership acquired a new position in shares of The Coca-Cola in the 1st quarter valued at $32,000. Finally, Alpha DNA Investment Management LLC acquired a new position in shares of The Coca-Cola in the 4th quarter valued at $35,000. 66.21% of the stock is currently owned by hedge funds and other institutional investors.

About The Coca-Cola

The Coca-Cola Co is the nonalcoholic beverage company, which engages in the manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks, water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater, and Ice Dew.

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