Credit Suisse Group Raises The Coca-Cola (NYSE:KO) Price Target to $54.00
The Coca-Cola (NYSE:KO) had its target price boosted by Credit Suisse Group from $49.00 to $54.00 in a research note published on Wednesday morning, The Fly reports. They currently have a neutral rating on the stock.
A number of other research analysts have also recently weighed in on KO. Wells Fargo & Co lifted their price objective on Restaurant Brands International from $68.00 to $70.00 and gave the company a market perform rating in a research report on Tuesday, April 16th. Barclays reissued a buy rating on shares of Netflix in a report on Thursday, May 16th. ValuEngine cut Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st. Deutsche Bank reissued a buy rating on shares of Continental in a report on Wednesday. Finally, UBS Group boosted their price target on W. R. Berkley from $53.00 to $56.00 and gave the stock a sell rating in a report on Wednesday, April 24th. Twelve investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $53.45.
KO stock opened at $54.17 on Wednesday. The Coca-Cola has a twelve month low of $44.25 and a twelve month high of $54.82. The company has a current ratio of 0.83, a quick ratio of 0.91 and a debt-to-equity ratio of 1.44. The stock has a market cap of $231.10 billion, a PE ratio of 26.04, a P/E/G ratio of 3.88 and a beta of 0.50. The company’s 50-day moving average is $51.76.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be issued a $0.40 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.60 dividend on an annualized basis and a yield of 2.95%. The Coca-Cola’s dividend payout ratio is presently 76.92%.
In other news, insider Jennifer K. Mann sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $51.88, for a total transaction of $466,920.00. Following the sale, the insider now directly owns 41,049 shares of the company’s stock, valued at approximately $2,129,622.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Beatriz R. Perez sold 14,094 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $49.50, for a total value of $697,653.00. Following the sale, the senior vice president now directly owns 108,551 shares in the company, valued at $5,373,274.50. The disclosure for this sale can be found here. Insiders have sold a total of 339,726 shares of company stock worth $16,996,023 over the last ninety days. Insiders own 1.33% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Advisor Partners LLC raised its holdings in shares of The Coca-Cola by 2.3% during the 2nd quarter. Advisor Partners LLC now owns 100,814 shares of the company’s stock worth $5,133,000 after acquiring an additional 2,304 shares in the last quarter. Bailard Inc. raised its holdings in shares of The Coca-Cola by 12.4% during the 2nd quarter. Bailard Inc. now owns 12,311 shares of the company’s stock worth $627,000 after acquiring an additional 1,355 shares in the last quarter. Community Bank N.A. raised its holdings in shares of The Coca-Cola by 9.9% during the 2nd quarter. Community Bank N.A. now owns 138,305 shares of the company’s stock worth $7,041,000 after acquiring an additional 12,435 shares in the last quarter. Regal Investment Advisors LLC raised its holdings in shares of The Coca-Cola by 8.8% during the 2nd quarter. Regal Investment Advisors LLC now owns 66,802 shares of the company’s stock worth $3,402,000 after acquiring an additional 5,384 shares in the last quarter. Finally, First Bank & Trust raised its holdings in shares of The Coca-Cola by 13.9% during the 2nd quarter. First Bank & Trust now owns 43,840 shares of the company’s stock worth $2,232,000 after acquiring an additional 5,334 shares in the last quarter. 66.81% of the stock is currently owned by institutional investors and hedge funds.
About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantbased beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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