The Coca-Cola (KO) Receives Buy Rating from Bank of America

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The Coca-Cola (NYSE:KO)‘s stock had its “buy” rating reaffirmed by research analysts at Bank of America in a report issued on Tuesday. They presently have a $52.00 target price on the stock. Bank of America’s target price indicates a potential upside of 9.59% from the company’s current price.

Several other research analysts have also issued reports on the stock. Morgan Stanley set a $49.00 price target on shares of The Coca-Cola and gave the stock a “neutral” rating in a research note on Wednesday, August 29th. Royal Bank of Canada set a $56.00 price target on shares of The Coca-Cola and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Macquarie set a $47.00 price target on shares of The Coca-Cola and gave the stock a “neutral” rating in a research note on Friday, September 14th. Argus upgraded shares of The Coca-Cola to a “hold” rating in a research note on Friday, August 24th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $48.00 price target on shares of The Coca-Cola in a research note on Friday, August 31st. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $50.74.

NYSE KO traded down $0.18 during trading on Tuesday, hitting $47.45. The company had a trading volume of 106,529 shares, compared to its average volume of 12,960,938. The company has a current ratio of 1.15, a quick ratio of 1.06 and a debt-to-equity ratio of 1.39. The Coca-Cola has a one year low of $41.45 and a one year high of $48.62. The firm has a market capitalization of $195.89 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75.

The Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, October 30th. The company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.03. The Coca-Cola had a net margin of 7.18% and a return on equity of 40.68%. The business had revenue of $8.25 billion during the quarter, compared to analyst estimates of $8.20 billion. During the same period in the prior year, the business earned $0.50 EPS. The company’s revenue for the quarter was down 9.2% on a year-over-year basis. On average, sell-side analysts predict that The Coca-Cola will post 2.07 earnings per share for the current year.

In related news, insider John Murphy sold 111,468 shares of the stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $46.46, for a total transaction of $5,178,803.28. Following the sale, the insider now directly owns 196,337 shares of the company’s stock, valued at approximately $9,121,817.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP James L. Dinkins sold 8,754 shares of the stock in a transaction dated Wednesday, October 24th. The shares were sold at an average price of $46.95, for a total transaction of $411,000.30. Following the sale, the senior vice president now directly owns 28,354 shares in the company, valued at $1,331,220.30. The disclosure for this sale can be found here. Corporate insiders own 1.48% of the company’s stock.

A number of hedge funds have recently made changes to their positions in KO. Clarus Wealth Advisors purchased a new stake in shares of The Coca-Cola during the 2nd quarter valued at about $101,000. WP Advisors LLC purchased a new stake in shares of The Coca-Cola during the 2nd quarter valued at about $107,000. Signature Estate & Investment Advisors LLC purchased a new stake in shares of The Coca-Cola during the 2nd quarter valued at about $116,000. Westbourne Investment Advisors Inc. purchased a new stake in shares of The Coca-Cola during the 3rd quarter valued at about $117,000. Finally, Fort L.P. purchased a new position in shares of The Coca-Cola in the second quarter worth approximately $122,000. 65.44% of the stock is currently owned by institutional investors.

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.

Further Reading: Asset Allocation

Analyst Recommendations for The Coca-Cola (NYSE:KO)

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