CocaCola (NYSE:KO) Price Target Raised to $80.00

CocaCola (NYSE:KO) had its target price increased by TD Cowen from $75.00 to $80.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on the stock. Piper Sandler boosted their target price on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday. BNP Paribas reiterated an “outperform” rating and issued a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. JPMorgan Chase & Co. upped their price target on shares of CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Cowen reissued a “buy” rating on shares of CocaCola in a report on Wednesday. Finally, UBS Group lowered their target price on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $78.31.

CocaCola Stock Performance

Shares of KO stock opened at $69.74 on Wednesday. The company has a 50 day moving average price of $67.81 and a 200-day moving average price of $69.73. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $300.13 billion, a PE ratio of 23.09, a P/E/G ratio of 3.66 and a beta of 0.43. CocaCola has a 52 week low of $60.62 and a 52 week high of $74.38.

CocaCola (NYSE:KO) last announced its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. The company had revenue of $11.40 billion during the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. As a group, equities research analysts expect that CocaCola will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 dividend on an annualized basis and a yield of 2.9%. CocaCola’s dividend payout ratio is presently 67.55%.

Insider Transactions at CocaCola

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the transaction, the insider owned 209,513 shares in the company, valued at $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.97% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in CocaCola by 1.7% during the second quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock valued at $25,996,519,000 after acquiring an additional 6,241,163 shares during the last quarter. Norges Bank bought a new position in shares of CocaCola in the second quarter worth about $3,846,270,000. Wellington Management Group LLP grew its holdings in shares of CocaCola by 52.7% in the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock worth $3,398,185,000 after purchasing an additional 16,383,870 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of CocaCola by 6.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock worth $2,212,300,000 after purchasing an additional 1,794,561 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of CocaCola by 1.1% in the second quarter. Legal & General Group Plc now owns 27,281,552 shares of the company’s stock worth $1,930,170,000 after purchasing an additional 285,794 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

About CocaCola

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.