Coca-Cola (NYSE:KO) Price Target Raised to $80.00 at Piper Sandler

Coca-Cola (NYSE:KO) had its target price raised by Piper Sandler from $73.00 to $80.00 in a research report released on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

KO has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. dropped their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. UBS Group increased their price objective on shares of Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Wells Fargo & Company increased their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $74.24.

Coca-Cola Price Performance

Coca-Cola stock opened at $71.20 on Friday. The firm has a market cap of $306.22 billion, a PE ratio of 28.82, a price-to-earnings-growth ratio of 3.79 and a beta of 0.61. Coca-Cola has a 52-week low of $57.93 and a 52-week high of $73.53. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The company’s 50 day moving average is $64.53 and its two-hundred day moving average is $66.53.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. On average, research analysts expect that Coca-Cola will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.51 per share. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 82.59%.

Insiders Place Their Bets

In related news, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $24,324,191.46. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 232,646 shares of company stock valued at $16,515,469. Insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Coca-Cola

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BridgePort Financial Solutions LLC acquired a new position in Coca-Cola during the fourth quarter worth about $511,000. Park Square Financial Group LLC acquired a new position in Coca-Cola during the fourth quarter worth about $269,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Coca-Cola during the fourth quarter worth about $202,017,000. REAP Financial Group LLC grew its holdings in shares of Coca-Cola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after buying an additional 208 shares in the last quarter. Finally, XY Planning Network Inc. purchased a new stake in shares of Coca-Cola during the fourth quarter worth about $230,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

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.