According to Zacks, “Coca-Cola’s increased marketing investments are driving volume growth in stable markets like North America. Moreover, the company is on track to achieve total annualized productivity saving target of approximately $3.8 billion by 2019 from the initiatives implemented under this program since its beginning. Also, Coca-Cola’s new revenue platforms should drive growth over the long term. However, the top line needs to show sustained improvement. Coca-Cola’s sales are getting affected by declining demand in certain emerging and developing markets and shift in consumer preference. Also, severe macroeconomic challenges in certain international markets and the stronger U.S. dollar have impacted results for the cola giant, which generates about half of its sales abroad. Meanwhile, shares have underperformed the the Zacks categorized Beverages/Soft Drink industry since the beginning of the year.”
Zacks Investment Research downgraded shares of Coca-Cola Company (The) (NYSE:KO) from a buy rating to a hold rating in a report issued on Thursday, July 20th.
A number of other equities research analysts have also commented on the stock. Vetr upgraded shares of Coca-Cola Company (The) from a hold rating to a buy rating and set a $44.81 price objective on the stock in a report on Monday, April 24th. Credit Suisse Group restated a buy rating and set a $49.00 price objective on shares of Coca-Cola Company (The) in a report on Thursday, April 27th. Wells Fargo & Company restated a market perform rating and set a $43.00 price objective on shares of Coca-Cola Company (The) in a report on Friday, April 28th. Morgan Stanley raised their price objective on shares of Coca-Cola Company (The) from $42.00 to $44.00 and gave the stock an equal weight rating in a report on Wednesday, April 26th. Finally, Bank of America Corporation raised their target price on shares of Coca-Cola Company (The) from $47.00 to $48.00 and gave the company a buy rating in a research report on Wednesday, April 26th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $45.48.
Coca-Cola Company (KO) traded down 0.186% during trading on Thursday, hitting $45.615. 3,812,184 shares of the stock traded hands. The company’s 50 day moving average is $45.06 and its 200 day moving average is $43.37. Coca-Cola Company has a one year low of $39.88 and a one year high of $46.43. The company has a market capitalization of $194.56 billion, a P/E ratio of 48.168 and a beta of 0.69.
Coca-Cola Company (The) (NYSE:KO) last issued its quarterly earnings data on Wednesday, July 26th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Coca-Cola Company (The) had a net margin of 10.68% and a return on equity of 34.53%. The business had revenue of $9.70 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same period last year, the business posted $0.60 earnings per share. The firm’s quarterly revenue was down 15.9% on a year-over-year basis. On average, equities analysts forecast that Coca-Cola Company will post $1.90 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Thursday, September 14th. Coca-Cola Company (The)’s payout ratio is 154.17%.
In other Coca-Cola Company (The) news, insider Irial Finan sold 354,146 shares of Coca-Cola Company (The) stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $45.00, for a total value of $15,936,570.00. Following the completion of the sale, the insider now owns 780,258 shares in the company, valued at approximately $35,111,610. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian John Smith sold 87,800 shares of Coca-Cola Company (The) stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $43.43, for a total transaction of $3,813,154.00. Following the completion of the sale, the insider now owns 149,185 shares of the company’s stock, valued at approximately $6,479,104.55. The disclosure for this sale can be found here. Insiders have sold a total of 693,822 shares of company stock valued at $31,311,106 in the last ninety days. 1.51% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. Portfolio Solutions LLC purchased a new position in shares of Coca-Cola Company (The) during the first quarter valued at approximately $108,000. Signature Estate & Investment Advisors LLC boosted its position in shares of Coca-Cola Company (The) by 5.0% in the first quarter. Signature Estate & Investment Advisors LLC now owns 2,725 shares of the company’s stock valued at $116,000 after buying an additional 129 shares during the last quarter. Meeder Asset Management Inc. boosted its position in shares of Coca-Cola Company (The) by 59.4% in the second quarter. Meeder Asset Management Inc. now owns 2,754 shares of the company’s stock valued at $124,000 after buying an additional 1,026 shares during the last quarter. SRS Capital Advisors Inc. purchased a new position in shares of Coca-Cola Company (The) during the fourth quarter valued at approximately $127,000. Finally, Eagle Ridge Investment Management purchased a new position in shares of Coca-Cola Company (The) during the second quarter valued at approximately $138,000. Institutional investors and hedge funds own 63.76% of the company’s stock.
Coca-Cola Company (The) Company Profile
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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