Coca-Cola (NYSE:KO) PT Raised to $70.00

Coca-Cola (NYSE:KO) had its target price lifted by Barclays from $69.00 to $70.00 in a report issued on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the stock. BNP Paribas initiated coverage on shares of Coca-Cola in a report on Monday, June 24th. They issued an outperform rating and a $72.00 target price on the stock. UBS Group upped their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the company a buy rating in a report on Wednesday, May 1st. Truist Financial upped their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the company a buy rating in a report on Thursday. Evercore ISI upped their target price on shares of Coca-Cola from $67.00 to $70.00 and gave the company an outperform rating in a report on Wednesday, May 1st. Finally, Citigroup upped their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company a buy rating in a report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Coca-Cola has an average rating of Moderate Buy and a consensus price target of $70.20.

Coca-Cola Trading Up 1.5 %

Shares of NYSE:KO opened at $67.05 on Thursday. The company’s 50-day moving average price is $63.48 and its two-hundred day moving average price is $61.51. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. Coca-Cola has a one year low of $51.55 and a one year high of $67.11. The stock has a market capitalization of $288.85 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 3.75 and a beta of 0.59.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. During the same period in the previous year, the firm posted $0.78 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities analysts forecast that Coca-Cola will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were given a dividend of $0.485 per share. The ex-dividend date was Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.89%. Coca-Cola’s payout ratio is presently 77.60%.

Insiders Place Their Bets

In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the transaction, the executive vice president now owns 167,107 shares in the company, valued at approximately $10,358,962.93. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Beatriz R. Perez sold 57,298 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were 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 owns 167,107 shares in the company, valued at approximately $10,358,962.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the sale, the insider now owns 218,880 shares in the company, valued at approximately $13,644,979.20. The disclosure for this sale can be found here. Insiders have sold a total of 841,588 shares of company stock worth $568,972,027 in the last quarter. Corporate insiders own 0.97% of the company’s stock.

Institutional Trading of Coca-Cola

Large investors have recently made changes to their positions in the company. HB Wealth Management LLC lifted its stake in Coca-Cola by 5.5% in the 2nd quarter. HB Wealth Management LLC now owns 490,088 shares of the company’s stock valued at $31,194,000 after purchasing an additional 25,769 shares during the last quarter. TSA Wealth Managment LLC lifted its stake in Coca-Cola by 0.4% in the 2nd quarter. TSA Wealth Managment LLC now owns 68,768 shares of the company’s stock valued at $4,377,000 after purchasing an additional 306 shares during the last quarter. Wright Investors Service Inc. lifted its stake in Coca-Cola by 13.4% in the 2nd quarter. Wright Investors Service Inc. now owns 128,993 shares of the company’s stock valued at $8,210,000 after purchasing an additional 15,258 shares during the last quarter. Fort Pitt Capital Group LLC lifted its stake in Coca-Cola by 13.8% in the 2nd quarter. Fort Pitt Capital Group LLC now owns 4,523 shares of the company’s stock valued at $288,000 after purchasing an additional 549 shares during the last quarter. Finally, Kintegral Advisory LLC lifted its stake in Coca-Cola by 37.8% in the 2nd quarter. Kintegral Advisory LLC now owns 197,051 shares of the company’s stock valued at $12,611,000 after purchasing an additional 54,064 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

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.