Coca-Cola Company (The) (NYSE:KO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday, November 2nd.
According to Zacks, “Coca-Cola reported better-than-expected third-quarter 2017 results. Lower SG&A expense (down 20%), higher gross margin (up 170 basis points or bps), and higher operating margin (up 404 bps) helped it come up with better numbers. Organic revenues were up 4%, driven by 3% growth in price/mix and concentrate sales growth of 1%. However, Coca-Cola's total sales decreased 15%, marking the 10th consecutive quarterly decline in revenues. Although top line needs to show sustained improvement, we are encouraged by the company’s strategic efforts in making its portfolio as a total beverage company with improved marketing and innovation, focus on driving revenues by improved price/mix, digital focus, and productivity initiatives toward driving margins. Further, solid performance of Coke Zero Sugar globally (growing high single digit) is quite encouraging.”
Other research analysts also recently issued research reports about the stock. Vetr upgraded shares of Coca-Cola Company (The) from a “sell” rating to a “strong-buy” rating in a research report on Tuesday, September 12th. UBS AG boosted their price target on shares of Coca-Cola Company (The) from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. Jefferies Group LLC set a $47.00 price target on shares of Coca-Cola Company (The) and gave the stock a “neutral” rating in a research report on Thursday, July 27th. Deutsche Bank AG reiterated a “hold” rating and issued a $46.00 price objective (up previously from $44.00) on shares of Coca-Cola Company (The) in a research note on Thursday, July 27th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $47.00 price objective on shares of Coca-Cola Company (The) in a research note on Friday, October 27th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $47.50.
Coca-Cola Company (NYSE KO) traded down $0.61 on Thursday, hitting $46.82. 10,472,525 shares of the stock were exchanged, compared to its average volume of 11,440,916. Coca-Cola Company has a one year low of $39.88 and a one year high of $47.48. The company has a current ratio of 1.39, a quick ratio of 1.30 and a debt-to-equity ratio of 1.47. The firm has a market cap of $201,060.00, a P/E ratio of 24.72, a P/E/G ratio of 3.96 and a beta of 0.70.
Coca-Cola Company (The) (NYSE:KO) last posted its earnings results on Wednesday, October 25th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.49 by $0.01. Coca-Cola Company (The) had a net margin of 12.20% and a return on equity of 36.21%. The business had revenue of $9.08 billion for the quarter, compared to the consensus estimate of $8.73 billion. During the same period last year, the company earned $0.49 EPS. The firm’s revenue was down 14.6% compared to the same quarter last year. equities analysts predict that Coca-Cola Company will post 1.9 earnings per share for the current fiscal year.
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In related news, insider J Alexander Douglas, Jr. sold 338,009 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $46.09, for a total value of $15,578,834.81. Following the transaction, the insider now directly owns 320,013 shares in the company, valued at $14,749,399.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.51% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of KO. Signature Estate & Investment Advisors LLC grew its position in Coca-Cola Company (The) by 5.0% during the first quarter. Signature Estate & Investment Advisors LLC now owns 2,725 shares of the company’s stock valued at $116,000 after acquiring an additional 129 shares during the last quarter. Meeder Asset Management Inc. grew its position in Coca-Cola Company (The) by 59.4% during the second quarter. Meeder Asset Management Inc. now owns 2,754 shares of the company’s stock valued at $124,000 after acquiring an additional 1,026 shares during the last quarter. Veritas Investment Management LLP bought a new position in Coca-Cola Company (The) during the third quarter valued at approximately $135,000. Spectrum Management Group Inc. purchased a new stake in shares of Coca-Cola Company (The) during the third quarter valued at approximately $137,000. Finally, Eagle Ridge Investment Management purchased a new stake in shares of Coca-Cola Company (The) during the second quarter valued at approximately $138,000. Institutional investors and hedge funds own 64.92% of the company’s stock.
Coca-Cola Company (The) Company Profile
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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