The Coca-Cola Company (NYSE:KO) Receives $75.59 Average Price Target from Analysts

Shares of The Coca-Cola Company (NYSE:KO) have earned an average rating of “Buy” from the twenty ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $75.59.

KO has been the subject of several recent research reports. Evercore ISI boosted their price objective on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Royal Bank of Canada boosted their price objective on Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Piper Sandler boosted their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Finally, Morgan Stanley boosted their price objective on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th.

Insider Transactions at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 19,058 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the sale, the executive vice president now owns 187,716 shares in the company, valued at approximately $13,491,148.92. The trade was a 24.32% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 462,407 shares of company stock valued at $32,990,056. Corporate insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Coca-Cola

A number of large investors have recently bought and sold shares of the business. New Republic Capital LLC raised its holdings in Coca-Cola by 1.6% in the 1st quarter. New Republic Capital LLC now owns 8,662 shares of the company’s stock worth $625,000 after purchasing an additional 139 shares during the period. Alteri Wealth LLC raised its holdings in Coca-Cola by 2.1% in the 1st quarter. Alteri Wealth LLC now owns 6,874 shares of the company’s stock worth $492,000 after purchasing an additional 140 shares during the period. Deseret Mutual Benefit Administrators raised its holdings in Coca-Cola by 0.7% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company’s stock worth $1,439,000 after purchasing an additional 143 shares during the period. MBA Advisors LLC raised its holdings in Coca-Cola by 1.2% in the 1st quarter. MBA Advisors LLC now owns 12,443 shares of the company’s stock worth $891,000 after purchasing an additional 143 shares during the period. Finally, BXM Wealth LLC raised its holdings in shares of Coca-Cola by 4.3% during the first quarter. BXM Wealth LLC now owns 3,532 shares of the company’s stock valued at $253,000 after acquiring an additional 144 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO opened at $70.62 on Wednesday. The stock has a 50-day moving average price of $70.95 and a 200-day moving average price of $66.63. The company has a market cap of $303.97 billion, a PE ratio of 28.59, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. Coca-Cola has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The company had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Coca-Cola’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS. As a group, equities analysts forecast that Coca-Cola will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s payout ratio is 81.60%.

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.