Coca-Cola (NYSE: KO) rating downgraded by UBS group
Coca-Cola (NYSE: KO) was downgraded by the UBS group from a “buy” rating to a “sell” rating in a research report released Tuesday to clients and investors, reports The Fly.
Several other research companies have also weighed on KO recently. Deutsche Bank Aktiengesellschaft lowered its price target on Coca-Cola shares from $ 60.00 to $ 59.00 and set a “conservation” rating for the company in a research note on Friday, October 15. The Goldman Sachs group set a price target of $ 55.00 on Coca-Cola in a research report on Thursday, December 9. Guggenheim Downgraded Coca-Cola Shares From ‘Neutral’ To ‘Buy’ Rating And Raised Its Price Target For The Company From $ 61.00 To $ 66.00 In Released Report Tuesday. Evercore ISI reaffirmed a “buy” note on Coca-Cola shares in a report released on Tuesday, November 9. Finally, JPMorgan Chase & Co. downgraded Coca-Cola shares from a “neutral” to an “overweight” rating and raised its price target for the company from $ 59 to $ 63 in a report released on Monday 13 December. They noted that the move was an appraisal call. One stock research analyst rated the stock with a sell rating, three assigned a conservation rating, and twelve issued a buy rating for the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $ 61.56.
Coca-Cola stock traded up $ 0.95 in Tuesday’s trading, reaching $ 60.25. The company had a trade volume of 585,991 shares, compared to its average volume of 15,835,753. The company has a current ratio of 1.52, a quick ratio of 1.32, and a leverage ratio of 1. , 63. The company’s 50-day simple moving average is $ 56.37 and its 200-day simple moving average is $ 55.65. The company has a market cap of $ 260.25 billion, a price / earnings ratio of 29.58, a price / earnings-growth ratio of 3.17, and a beta of 0.70. Coca-Cola has a 52-week low of $ 48.11 and a 52-week high of $ 59.35.
Coca-Cola (NYSE: KO) last released its quarterly profit data on Tuesday, October 26. The company reported earnings of $ 0.65 per share for the quarter, beating Zacks’ consensus estimate of $ 0.58 by $ 0.07. The company posted revenue of $ 10.04 billion in the quarter, compared to analysts’ estimates of $ 9.72 billion. Coca-Cola had a return on equity of 44.22% and a net margin of 23.31%. The quarterly turnover of the activity is up 16.1% compared to the same quarter of last year. In the same quarter of last year, the company posted earnings per share of $ 0.55. On average, analysts predict that Coca-Cola will post earnings per share of 2.28 for the current year.
Meanwhile, COO Brian John Smith sold 37,000 shares of the company in a trade on Friday, November 5. The shares were sold for an average price of $ 56.64, for a total value of $ 2,095,680.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Additionally, Senior Vice President Nancy Quan sold 18,206 shares of the company in a trade on Friday, November 5. The shares were sold at an average price of $ 56.82, for a total trade of $ 1,034,464.92. Disclosure of this sale can be found here. Insiders have sold a total of 118,282 shares of the company valued at $ 6,795,662 in the past ninety days. 1.01% of the shares are currently held by company insiders.
A number of hedge funds have recently changed their holdings of equities. Certified Advisory Corp increased its stake in Coca-Cola shares by 0.6% during the 3rd quarter. Certified Advisory Corp now owns 30,182 shares of the company valued at $ 1,583,000 after purchasing 178 additional shares during the period. Penserra Capital Management LLC increased its stake in Coca-Cola shares by 24.0% during the 3rd quarter. Penserra Capital Management LLC now owns 924 shares of the company valued at $ 48,000 after purchasing 179 additional shares during the period. 1900 Wealth Management LLC increased its stake in Coca-Cola by 3.0% in the 3rd quarter. 1900 Wealth Management LLC now owns 6,440 shares of the company valued at $ 338,000 after acquiring 187 additional shares in the last quarter. Tufton Capital Management increased its stake in Coca-Cola by 0.3% in the 3rd quarter. Tufton Capital Management now owns 65,951 shares of the company valued at $ 3,460,000 after acquiring 188 additional shares in the last quarter. Finally, Elgethun Capital Management increased its stake in Coca-Cola by 2.3% in the 3rd quarter. Elgethun Capital Management now owns 8,383 shares of the company valued at $ 440,000 after acquiring 188 additional shares in the last quarter. 66.59% of the shares are held by hedge funds and other institutional investors.
Coca-Cola Company Profile
The Coca-Cola Co is the non-alcoholic beverage company that manufactures, markets and sells non-alcoholic beverages, including carbonated non-alcoholic beverages, water, fortified water and sports drinks, juices, drinks made from dairy products and plants, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater and Ice Dew.
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