Recent Research Analysts’ Ratings Updates for Coca-Cola (KO)

Coca-Cola (NYSE: KO) recently received a number of ratings updates from brokerages and research firms:

• 6/24/2024 – Coca-Cola is now covered by analysts at BNP Paribas. They set an “outperform” rating and a $72.00 price target on the stock.
• 6/14/2024 – Coca-Cola was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 6/10/2024 – Coca-Cola had its price target raised by analysts at Morgan Stanley from $68.00 to $70.00. They now have an “overweight” rating on the stock.
• 6/6/2024 – Coca-Cola was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 5/29/2024 – Coca-Cola was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 5/22/2024 – Coca-Cola had its price target raised by analysts at Argus from $70.00 to $72.00. They now have a “buy” rating on the stock.
• 5/2/2024 – Coca-Cola had its price target raised by analysts at Barclays PLC from $68.00 to $69.00. They now have an “overweight” rating on the stock.
• 5/1/2024 – Coca-Cola had its price target raised by analysts at JPMorgan Chase & Co. from $65.00 to $68.00. They now have an “overweight” rating on the stock.
• 5/1/2024 – Coca-Cola had its price target raised by analysts at Evercore ISI from $67.00 to $70.00. They now have an “outperform” rating on the stock.
• 5/1/2024 – Coca-Cola had its price target raised by analysts at UBS Group AG from $70.00 to $72.00. They now have a “buy” rating on the stock.

Coca-Cola Trading Up 0.2 %

NYSE KO traded up $0.12 on Wednesday, hitting $63.96. 4,474,307 shares of the company were exchanged, compared to its average volume of 13,087,473. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.86. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.36. The firm has a market capitalization of $275.54 billion, a P/E ratio of 25.58, a price-to-earnings-growth ratio of 3.61 and a beta of 0.59. The company’s 50 day moving average price is $62.44 and its 200-day moving average price is $60.69.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The business had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts predict that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.03%. The ex-dividend date is Friday, June 14th. Coca-Cola’s payout ratio is 77.60%.

Insider Buying and Selling

In related news, EVP Monica Howard Douglas sold 8,874 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $63.31, for a total transaction of $561,812.94. Following the completion of the sale, the executive vice president now directly owns 33,638 shares in the company, valued at $2,129,621.78. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Beatriz R. Perez sold 57,298 shares of Coca-Cola 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 completion of the sale, the executive vice president now directly owns 167,107 shares in the company, valued at approximately $10,358,962.93. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Monica Howard Douglas sold 8,874 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $63.31, for a total value of $561,812.94. Following the completion of the transaction, the executive vice president now owns 33,638 shares in the company, valued at approximately $2,129,621.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 223,665 shares of company stock valued at $13,995,465. Corporate insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of KO. ZRC Wealth Management LLC boosted its holdings in shares of Coca-Cola by 213.3% during the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after buying an additional 320 shares during the period. Tidemark LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at about $26,000. Private Wealth Management Group LLC bought a new position in shares of Coca-Cola in the fourth quarter worth about $27,000. Redmont Wealth Advisors LLC acquired a new position in shares of Coca-Cola during the 1st quarter worth about $28,000. Finally, ESL Trust Services LLC bought a new stake in Coca-Cola during the 1st quarter valued at approximately $28,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

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.