Coca-Cola (NYSE:KO) Stock Rating Lowered by StockNews.com

Coca-Cola (NYSE:KO) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

Other equities analysts also recently issued reports about the company. Morgan Stanley upped their price target on Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. Argus upped their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. UBS Group upped their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Evercore ISI upped their price target on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. upped their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.55.

Coca-Cola Stock Up 0.1 %

Coca-Cola stock opened at $62.55 on Friday. The business has a fifty day moving average of $61.85 and a two-hundred day moving average of $60.46. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The firm has a market cap of $269.46 billion, a P/E ratio of 25.02, a P/E/G ratio of 3.56 and a beta of 0.59. Coca-Cola has a twelve month low of $51.55 and a twelve month high of $64.36.

Coca-Cola (NYSE:KO) last posted 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. The company had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. Coca-Cola’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 earnings per share. On average, analysts forecast that Coca-Cola will post 2.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the sale, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Nancy Quan sold 19,304 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $14,168,055.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Beatriz R. Perez sold 57,298 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the sale, the executive vice president now directly owns 167,107 shares in the company, valued at $10,358,962.93. The disclosure for this sale can be found here. In the last three months, insiders have sold 142,774 shares of company stock valued at $8,952,720. Company insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Coca-Cola

Several hedge funds have recently modified their holdings of the company. Loomis Sayles & Co. L P lifted its stake in Coca-Cola by 1.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 79,478 shares of the company’s stock valued at $4,449,000 after buying an additional 1,295 shares in the last quarter. Financial Engines Advisors L.L.C. lifted its stake in Coca-Cola by 37.9% in the 3rd quarter. Financial Engines Advisors L.L.C. now owns 7,056 shares of the company’s stock valued at $398,000 after buying an additional 1,941 shares in the last quarter. WCG Wealth Advisors LLC purchased a new position in Coca-Cola in the 3rd quarter valued at about $1,546,000. Rafferty Asset Management LLC lifted its stake in Coca-Cola by 11.4% in the 3rd quarter. Rafferty Asset Management LLC now owns 289,937 shares of the company’s stock valued at $16,231,000 after buying an additional 29,644 shares in the last quarter. Finally, QRG Capital Management Inc. purchased a new position in Coca-Cola in the 3rd quarter valued at about $16,114,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

About Coca-Cola

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.