Barclays Raises Coca-Cola (NYSE:KO) Price Target to $74.00

Coca-Cola (NYSE:KO) had its price objective increased by Barclays from $70.00 to $74.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts also recently issued reports on the company. Citigroup boosted their price objective on Coca-Cola from $72.00 to $75.00 and gave the company a buy rating in a report on Wednesday, July 24th. Wells Fargo & Company upped their price target on Coca-Cola from $73.00 to $78.00 and gave the stock an overweight rating in a report on Monday, September 16th. Cfra restated a hold rating on shares of Coca-Cola in a report on Thursday, September 5th. TD Cowen upped their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a hold rating in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. upped their price target on Coca-Cola from $68.00 to $72.00 and gave the stock an overweight rating in a report on Wednesday, July 10th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $71.33.

Coca-Cola Price Performance

KO stock opened at $70.37 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $303.15 billion, a PE ratio of 28.15, a P/E/G ratio of 3.92 and a beta of 0.60. Coca-Cola has a 12-month low of $52.84 and a 12-month high of $73.53. The business’s fifty day moving average price is $70.56 and its 200 day moving average price is $65.52.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.03. The firm had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.78 EPS. On average, sell-side analysts anticipate that Coca-Cola will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a $0.485 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.76%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insider Activity at Coca-Cola

In related news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total value of $1,253,987.84. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,507,516.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Coca-Cola news, EVP Lisa Chang sold 58,122 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the completion of the sale, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at approximately $5,074,330.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 19,304 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total value of $1,253,987.84. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,507,516.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 376,096 shares of company stock valued at $25,982,352 in the last three months. 0.97% of the stock is currently owned by company insiders.

Institutional Trading of Coca-Cola

A number of hedge funds have recently added to or reduced their stakes in the stock. Aspect Partners LLC purchased a new position in shares of Coca-Cola during the 4th quarter worth approximately $305,000. Clarity Asset Management Inc. purchased a new position in shares of Coca-Cola during the 4th quarter worth approximately $77,000. Security National Bank of Sioux City Iowa IA raised its stake in shares of Coca-Cola by 11.5% during the 4th quarter. Security National Bank of Sioux City Iowa IA now owns 16,897 shares of the company’s stock worth $996,000 after buying an additional 1,749 shares in the last quarter. Childress Capital Advisors LLC raised its stake in shares of Coca-Cola by 7.3% during the 4th quarter. Childress Capital Advisors LLC now owns 14,343 shares of the company’s stock worth $845,000 after buying an additional 970 shares in the last quarter. Finally, Burford Brothers Inc. purchased a new position in Coca-Cola in the 4th quarter valued at approximately $1,433,000. 70.26% of the stock is owned by institutional investors and hedge funds.

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.