Coca-Cola (NYSE:KO) Given New $68.00 Price Target at JPMorgan Chase & Co.

Coca-Cola (NYSE:KO) had its price target hoisted by JPMorgan Chase & Co. from $65.00 to $68.00 in a research note issued to investors on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

KO has been the topic of a number of other research reports. Citigroup lifted their price target on Coca-Cola from $67.00 to $68.00 and gave the company a buy rating in a report on Wednesday, January 17th. Barclays boosted their price target on Coca-Cola from $66.00 to $68.00 and gave the stock an overweight rating in a research report on Friday, April 12th. Finally, Evercore ISI raised their price target on Coca-Cola from $67.00 to $70.00 and gave the company an outperform rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola currently has a consensus rating of Moderate Buy and a consensus price target of $68.18.

Coca-Cola Stock Performance

KO stock opened at $61.92 on Wednesday. The stock’s 50 day simple moving average is $60.21 and its 200 day simple moving average is $59.04. Coca-Cola has a 12-month low of $51.55 and a 12-month high of $64.25. The firm has a market cap of $266.95 billion, a P/E ratio of 24.77, a P/E/G ratio of 3.53 and a beta of 0.57. The company has a current ratio of 1.04, a quick ratio of 0.95 and a debt-to-equity ratio of 1.26.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. The company had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 earnings per share. As a group, equities research analysts predict that Coca-Cola will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $0.485 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.94 annualized dividend and a yield of 3.13%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Insiders Place Their Bets

In related news, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nancy Quan sold 57,368 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $13,594,097.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 323,107 shares of company stock worth $19,657,742. 0.97% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. ZRC Wealth Management LLC raised its stake in Coca-Cola by 213.3% during the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares during the period. Tidemark LLC purchased a new position in shares of Coca-Cola during the fourth quarter valued at $26,000. Private Wealth Management Group LLC acquired a new position in Coca-Cola during the fourth quarter valued at $27,000. Redmont Wealth Advisors LLC purchased a new stake in Coca-Cola in the 1st quarter worth about $28,000. Finally, Criterion Capital Advisors LLC acquired a new stake in Coca-Cola during the 4th quarter worth about $30,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

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.