The Coca-Cola (NYSE:KO) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of The Coca-Cola (NYSE:KO) from a hold rating to a buy rating in a research report released on Thursday morning, Zacks.com reports. They currently have $60.00 price objective on the stock.

According to Zacks, “Coca-Cola has outpaced the industry in the past year, owing to growth strategies. Its focus on consumer-centric innovation, solid core brand performance and improved execution in the marketplace is aiding performance. The company recently announced plans to fortify its Powerade sports drink brand with two flavors, to meet changing consumer preferences toward natural and organic products. Further, it boasts a robust trend of quarterly performances. The company’s revenues are benefiting from strength across all segments as well as growth in volume and price/mix. Innovation and investment in core categories and brands have been the key focus area, which led to the expansion of retail value share. However, it expects adverse currency rates to significantly mar results in 2019 and beyond.”

Other equities research analysts have also recently issued research reports about the company. ValuEngine cut The Coca-Cola from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Deutsche Bank boosted their target price on The Coca-Cola from $60.00 to $61.00 and gave the stock a buy rating in a research note on Thursday, December 12th. Credit Suisse Group upgraded The Coca-Cola from a neutral rating to an outperform rating and boosted their target price for the stock from $54.00 to $64.00 in a research note on Thursday, January 9th. JPMorgan Chase & Co. set a $59.00 target price on The Coca-Cola and gave the stock a neutral rating in a research note on Friday, October 18th. Finally, Morgan Stanley boosted their target price on The Coca-Cola from $60.00 to $61.00 and gave the stock an overweight rating in a research note on Tuesday. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $57.53.

Shares of The Coca-Cola stock traded down $0.15 on Thursday, reaching $57.68. 8,593,333 shares of the company were exchanged, compared to its average volume of 12,855,331. The Coca-Cola has a 1-year low of $44.42 and a 1-year high of $57.87. The company has a market cap of $247.77 billion, a P/E ratio of 32.04, a price-to-earnings-growth ratio of 3.92 and a beta of 0.42. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.92 and a quick ratio of 0.79. The stock’s 50 day moving average price is $55.20 and its 200-day moving average price is $53.98.

In other The Coca-Cola news, SVP Nancy Quan sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $46.00, for a total value of $460,000.00. Following the completion of the sale, the senior vice president now owns 175,049 shares in the company, valued at $8,052,254. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Larry M. Mark sold 90,289 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $54.93, for a total value of $4,959,574.77. Following the completion of the sale, the vice president now owns 93,474 shares of the company’s stock, valued at approximately $5,134,526.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 149,289 shares of company stock valued at $8,113,175. 1.33% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Bernardo Wealth Planning LLC increased its holdings in shares of The Coca-Cola by 56.7% in the second quarter. Bernardo Wealth Planning LLC now owns 8,398 shares of the company’s stock valued at $428,000 after purchasing an additional 3,038 shares during the period. Victory Capital Management Inc. increased its holdings in shares of The Coca-Cola by 58.2% in the second quarter. Victory Capital Management Inc. now owns 710,924 shares of the company’s stock valued at $36,200,000 after purchasing an additional 261,454 shares during the period. Andra AP fonden increased its holdings in shares of The Coca-Cola by 22.5% in the second quarter. Andra AP fonden now owns 114,400 shares of the company’s stock valued at $5,825,000 after purchasing an additional 21,000 shares during the period. MidWestOne Financial Group Inc. acquired a new position in shares of The Coca-Cola in the second quarter valued at approximately $629,000. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of The Coca-Cola by 3.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 483,683 shares of the company’s stock valued at $24,629,000 after purchasing an additional 14,598 shares during the period. Institutional investors own 67.54% of the company’s stock.

The Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; 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.

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