Coca-Cola (NYSE:KO) Given New $80.00 Price Target at Truist Financial

Coca-Cola (NYSE:KO) had its price objective upped by Truist Financial from $70.00 to $80.00 in a research report report published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

KO has been the topic of a number of other reports. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Citigroup increased their price target on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Barclays raised their price target on Coca-Cola from $70.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Finally, StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $72.00.

Coca-Cola Stock Up 0.8 %

NYSE KO opened at $70.44 on Wednesday. Coca-Cola has a 1-year low of $53.86 and a 1-year high of $73.53. The company has a market capitalization of $303.45 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 3.92 and a beta of 0.60. The stock’s 50 day moving average is $70.70 and its two-hundred day moving average is $65.76. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39.

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

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 2.75%. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insider Buying and Selling at Coca-Cola

In related news, EVP Nancy Quan sold 37,787 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $66.96, for a total value of $2,530,217.52. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,954,176.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Nancy Quan sold 37,787 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,954,176.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bruno Pietracci sold 38,653 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The disclosure for this sale can be found here. In the last 90 days, insiders sold 356,792 shares of company stock worth $24,728,364. Insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its holdings in shares of Coca-Cola by 21.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after acquiring an additional 8,733,326 shares during the period. Legal & General Group Plc raised its stake in shares of Coca-Cola by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock valued at $2,463,373,000 after purchasing an additional 1,084,475 shares during the period. Truist Financial Corp lifted its holdings in shares of Coca-Cola by 1.1% in the second quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock valued at $1,041,479,000 after purchasing an additional 177,241 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Coca-Cola by 30.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock worth $776,924,000 after buying an additional 2,964,850 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Coca-Cola by 15.7% during the first quarter. Canada Pension Plan Investment Board now owns 10,433,875 shares of the company’s stock worth $638,344,000 after buying an additional 1,417,930 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Company Profile

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.