Stock Update (NYSE:KO): The Board of Directors of The Coca-Cola Co Declares Regular Quarterly Dividend
The Board of Directors of The Coca-Cola Co (NYSE:KO) declared a regular quarterly dividend of 33 cents per common share. The dividend is payable Oct. 1, 2015 to shareowners of record as of Sept. 15, 2015. The Board earlier this year approved the Company’s 53rd consecutive annual dividend increase, raising the quarterly dividend 8 percent from 30.5 cents to 33 cents per common share. This is equivalent to an annual dividend of $1.32 per share, up from $1.22 per share in 2014. The increase reflects the Board’s confidence in the Company’s long-term cash flow. (Original Source)
Shares of Coca-Cola Company opened today at $41.42 and are currently trading down at $41.41. KO has a 1-year high of $45 and a 1-year low of $39.06. The stock’s 50-day moving average is $40.18 and its 200-day moving average is $40.79.
On the ratings front, Coca-Cola has been the subject of a number of recent research reports. In a report issued on July 14, UBS analyst Stephen Powers upgraded KO to Buy, with a price target of $48, which implies an upside of 15.9% from current levels. Separately, on June 1, BMO’s Amit Sharma upgraded the stock to Buy and has a price target of $48.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Stephen Powers and Amit Sharma have a total average return of 4.5% and 12.0% respectively. Powers has a success rate of 68.4% and is ranked #1653 out of 3707 analysts, while Sharma has a success rate of 66.7% and is ranked #872.
Overall, 5 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $46.67 which is 12.7% above where the stock opened today.