The Coca-Cola (NYSE:KO) Receives Buy Rating from Royal Bank of Canada
Royal Bank of Canada restated their buy rating on shares of The Coca-Cola (NYSE:KO) in a report issued on Wednesday, Borsen Zeitung reports. Royal Bank of Canada currently has a $60.00 price objective on the stock.
A number of other analysts have also commented on KO. Deutsche Bank boosted their price target on Texas Instruments from $100.00 to $110.00 and gave the company a hold rating in a report on Wednesday, April 24th. Morgan Stanley upgraded Dongfeng Motor Group from an equal weight rating to an overweight rating in a report on Monday, July 1st. Wells Fargo & Co boosted their price target on Restaurant Brands International from $68.00 to $70.00 and gave the company a market perform rating in a report on Tuesday, April 16th. ValuEngine lowered Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st. Finally, Barclays restated a buy rating on shares of Netflix in a report on Thursday, May 16th. Twelve equities research 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 Hold and an average target price of $53.45.
NYSE:KO opened at $54.17 on Wednesday. The Coca-Cola has a 12-month low of $44.25 and a 12-month high of $54.82. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.83 and a quick ratio of 0.91. The company has a market cap of $231.10 billion, a price-to-earnings ratio of 26.04, a P/E/G ratio of 3.88 and a beta of 0.50. The business has a fifty day moving average of $51.76.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Friday, September 13th. The Coca-Cola’s payout ratio is 76.92%.
In other news, insider Jennifer K. Mann sold 9,126 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $53.48, for a total value of $488,058.48. Following the transaction, the insider now owns 41,175 shares of the company’s stock, valued at $2,202,039. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Francisco Crespo sold 16,426 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $49.00, for a total value of $804,874.00. Following the completion of the transaction, the insider now directly owns 77,109 shares in the company, valued at approximately $3,778,341. The disclosure for this sale can be found here. Insiders sold 339,726 shares of company stock worth $16,996,023 in the last ninety days. 1.33% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the stock. Advisor Partners LLC boosted its stake in shares of The Coca-Cola by 2.3% in the second quarter. Advisor Partners LLC now owns 100,814 shares of the company’s stock valued at $5,133,000 after buying an additional 2,304 shares during the period. Bailard Inc. boosted its stake in shares of The Coca-Cola by 12.4% in the second quarter. Bailard Inc. now owns 12,311 shares of the company’s stock valued at $627,000 after buying an additional 1,355 shares during the period. Community Bank N.A. boosted its stake in shares of The Coca-Cola by 9.9% in the second quarter. Community Bank N.A. now owns 138,305 shares of the company’s stock valued at $7,041,000 after buying an additional 12,435 shares during the period. Regal Investment Advisors LLC boosted its stake in shares of The Coca-Cola by 8.8% in the second quarter. Regal Investment Advisors LLC now owns 66,802 shares of the company’s stock valued at $3,402,000 after buying an additional 5,384 shares during the period. Finally, First Bank & Trust boosted its stake in shares of The Coca-Cola by 13.9% in the second quarter. First Bank & Trust now owns 43,840 shares of the company’s stock valued at $2,232,000 after buying an additional 5,334 shares during the period. Institutional investors and hedge funds own 66.81% of the company’s stock.
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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