Fintel reports that on October 11, 2023, Citigroup maintained coverage of Coca-Cola (NYSE:KO) with a Buy recommendation.

Analyst Price Forecast Suggests 32.11% Upside

As of October 5, 2023, the average one-year price target for Coca-Cola is 70.96. The forecasts range from a low of 63.63 to a high of $79.80. The average price target represents an increase of 32.11% from its latest reported closing price of 53.72.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Coca-Cola is 45,230MM, an increase of 2.47%. The projected annual non-GAAP EPS is 2.61.

• For more in-depth coverage of Coca-Cola, view the free, crowd-sourced company research report on Finpedia.

Coca-Cola Declares $0.46 Dividend

On July 19, 2023 the company declared a regular quarterly dividend of $0.46 per share ($1.84 annualized). Shareholders of record as of September 15, 2023 received the payment on October 2, 2023. Previously, the company paid $0.46 per share.

At the current share price of $53.72 / share, the stock's dividend yield is 3.43%.

Looking back five years and taking a sample every week, the average dividend yield has been 3.10%, the lowest has been 2.67%, and the highest has been 4.37%. The standard deviation of yields is 0.25 (n=236).

The current dividend yield is 1.30 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.76. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.12%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 4038 funds or institutions reporting positions in Coca-Cola. This is a decrease of 75 owner(s) or 1.82% in the last quarter. Average portfolio weight of all funds dedicated to KO is 0.60%, a decrease of 6.08%. Total shares owned by institutions decreased in the last three months by 0.18% to 3,206,995K shares. The put/call ratio of KO is 0.86, indicating a bullish outlook.

What are Other Shareholders Doing?

Berkshire Hathaway holds 400,000K shares representing 9.25% ownership of the company. No change in the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 121,148K shares representing 2.80% ownership of the company. In it's prior filing, the firm reported owning 120,546K shares, representing an increase of 0.50%. The firm decreased its portfolio allocation in KO by 9.98% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 92,669K shares representing 2.14% ownership of the company. In it's prior filing, the firm reported owning 90,818K shares, representing an increase of 2.00%. The firm decreased its portfolio allocation in KO by 10.28% over the last quarter.

Geode Capital Management holds 79,166K shares representing 1.83% ownership of the company. In it's prior filing, the firm reported owning 76,982K shares, representing an increase of 2.76%. The firm decreased its portfolio allocation in KO by 9.69% over the last quarter.

Jpmorgan Chase holds 78,941K shares representing 1.83% ownership of the company. In it's prior filing, the firm reported owning 74,632K shares, representing an increase of 5.46%. The firm increased its portfolio allocation in KO by 629.49% over the last quarter.

Coca-Cola Background Information
(This description is provided by the company.)

The Coca-Cola Company is a total beverage company with products sold in more than 200 countries and territories. The company’s purpose is to refresh the world and make a difference. The Company's portfolio of brands includes Coca-Cola, Sprite, Fanta and other sparkling soft drinks. The Company's hydration, sports, coffee and tea brands include Dasani, smartwater, vitaminwater, Topo Chico, Powerade, Costa, Georgia, Gold Peak, Honest and Ayataka. The Company's nutrition, juice, dairy and plant-based beverage brands include Minute Maid, Simply, innocent, Del Valle, fairlife and AdeS. The Company's constantly transforming our portfolio, from reducing sugar in our drinks to bringing innovative new products to market. The Company seeks to positively impact people’s lives, communities and the planet through water replenishment, packaging recycling, sustainable sourcing practices and carbon emissions reductions across our value chain. Together with our bottling partners, we employ more than 700,000 people, helping bring economic opportunity to local communities worldwide.