Morningstar set a $49.00 price objective on The Coca-Cola (NYSE:KO) in a report published on Wednesday morning. The brokerage currently has a buy rating on the stock.

KO has been the subject of several other research reports. Zacks Investment Research downgraded The Coca-Cola from a hold rating to a sell rating in a report on Tuesday, June 26th. Macquarie reiterated a neutral rating and set a $47.00 price objective on shares of The Coca-Cola in a research report on Wednesday, June 13th. Societe Generale set a $46.50 price objective on The Coca-Cola and gave the stock a neutral rating in a research report on Wednesday, April 25th. Stifel Nicolaus reiterated a neutral rating and set a $49.00 price objective on shares of The Coca-Cola in a research report on Monday, July 16th. Finally, Jefferies Financial Group reiterated a neutral rating and set a $44.00 price objective on shares of The Coca-Cola in a research report on Friday, May 25th. Thirteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $49.64.

The Coca-Cola traded down $0.27, hitting $46.08, during mid-day trading on Wednesday, Marketbeat reports. 7,438,862 shares of the company’s stock traded hands, compared to its average volume of 10,303,866. The Coca-Cola has a fifty-two week low of $41.45 and a fifty-two week high of $48.62. The company has a market capitalization of $197.72 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 2.86 and a beta of 0.79. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.15 and a quick ratio of 1.06.

The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, July 25th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. The Coca-Cola had a return on equity of 40.68% and a net margin of 7.18%. The business had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.54 billion. During the same quarter last year, the firm posted $0.59 EPS. The company’s quarterly revenue was down 8.3% on a year-over-year basis. equities analysts anticipate that The Coca-Cola will post 2.07 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 14th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Thursday, September 13th. The Coca-Cola’s payout ratio is currently 81.68%.

In related news, VP Kathy N. Waller sold 48,354 shares of the firm’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $46.45, for a total value of $2,246,043.30. Following the transaction, the vice president now owns 200,725 shares in the company, valued at $9,323,676.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Murphy sold 56,000 shares of the firm’s stock in a transaction on Wednesday, July 25th. The stock was sold at an average price of $46.48, for a total value of $2,602,880.00. Following the completion of the transaction, the insider now owns 140,869 shares in the company, valued at approximately $6,547,591.12. The disclosure for this sale can be found here. Insiders sold 215,822 shares of company stock worth $10,027,727 in the last 90 days. 1.48% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Carillon Tower Advisers Inc. bought a new position in The Coca-Cola in the fourth quarter valued at about $19,247,000. BlackRock Inc. grew its position in The Coca-Cola by 1.9% in the first quarter. BlackRock Inc. now owns 246,505,322 shares of the company’s stock valued at $10,705,725,000 after acquiring an additional 4,526,566 shares during the last quarter. State of Tennessee Treasury Department grew its position in The Coca-Cola by 8.8% in the fourth quarter. State of Tennessee Treasury Department now owns 1,682,097 shares of the company’s stock valued at $77,175,000 after acquiring an additional 135,896 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in The Coca-Cola by 1.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 74,749 shares of the company’s stock valued at $3,246,000 after acquiring an additional 1,361 shares during the last quarter. Finally, LGT Capital Partners LTD. grew its position in The Coca-Cola by 38.3% in the second quarter. LGT Capital Partners LTD. now owns 452,990 shares of the company’s stock valued at $19,868,000 after acquiring an additional 125,540 shares during the last quarter. Institutional investors own 65.53% of the company’s stock.

The Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plant?based 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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Analyst Recommendations for The Coca-Cola (NYSE:KO)

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