Coca Cola HBC AG (CCH) Stock Rating Reaffirmed by Citigroup Inc

Cornelia Mascio
Agosto 13, 2017

Coca-Cola Company (The) makes up approximately 2.0% of Montecito Bank & Trust's holdings, making the stock its 10th largest position. Spears Abacus Advisors LLC boosted its stake in Coca-Cola Company (The) by 33.1% in the second quarter.

Other hedge funds have also made changes to their positions in the company. Meeder Asset Management Inc. now owns 2,754 shares of the company's stock worth $124,000 after buying an additional 1,026 shares during the period. Korea Investment CORP raised its position in shares of Coca-Cola European Partners PLC by 12.6% in the first quarter. The firm owned 899,904 shares of the company's stock after buying an additional 220,924 shares during the period. Whalerock Point Partners LLC increased its position in Coca-Cola Company (The) by 1.7% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 279,218 shares of the company's stock worth $12,523,000 after buying an additional 48,670 shares in the last quarter. BlackRock Inc. now owns 241,677,773 shares of the company's stock valued at $10,839,247,000 after buying an additional 750,257 shares during the period. State Street Corp now owns 173,789,519 shares of the company's stock valued at $7,375,663,000 after buying an additional 2,009,675 shares during the period.

Shares of Coca-Cola Company (KO) opened at 45.59 on Monday. The firm has a market capitalization of $194.46 billion, a PE ratio of 48.14 and a beta of 0.69. The company's 50 day moving average price is GBX 2,296.08 and its 200-day moving average price is GBX 2,131.30. Coca Cola HBC AG has a 52-week low of GBX 1,572.00 and a 52-week high of GBX 2,656.00.

Coca-Cola Company (The) (NYSE:KO) last announced its quarterly earnings results on Wednesday, July 26th. The company reported $0.74 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.64 by $0.10. The business had revenue of $9.70 billion during the quarter, compared to analysts' expectations of $9.62 billion. Coca-Cola Company (The) had a net margin of 10.68% and a return on equity of 34.53%. The company's revenue was down 15.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.56 earnings per share.

Analysts predict that Coca-Cola Company (The) (NYSE:KO) will post sales of $8.81 billion for the current quarter, according to Zacks.

The firm also recently disclosed a dividend, which was paid on Tuesday, July 25th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a dividend yield of 1.71%. Coca-Cola Company (The)'s dividend payout ratio (DPR) is presently 154.17%.

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CCH has been the subject of a number of other reports. Finally, Argus increased their price target on shares of Coca-Cola European Partners PLC from $44.00 to $46.00 and gave the stock a "buy" rating in a report on Wednesday, May 24th. Barclays PLC reissued an "underweight" rating and issued a GBX 1,775 ($23.11) price target on shares of Coca Cola HBC AG in a report on Tuesday, May 30th. BidaskClub upgraded Coca-Cola European Partners PLC from a "hold" rating to a "buy" rating in a report on Thursday, August 3rd. Finally, J P Morgan Chase & Co reissued an overweight rating and set a GBX 2,500 ($32.56) target price on shares of Coca Cola HBC AG in a research note on Monday, May 22nd. Credit Suisse Group reiterated a "buy" rating and issued a $49.00 target price on shares of Coca-Cola Company (The) in a research note on Thursday, April 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company.

On 07/19/2017, Exane BNP Paribas released a statement on Coca-Cola HBC (LON:CCH) upped the target price from 0.00GBX to 2,700.00GBX that suggested an upside of 0.20%.

In related news, insider JAN GUSTAVSSON purchased 104 shares of the business's stock in a transaction that occurred on Monday, July 17th. The shares were acquired at an average price of GBX 2,329 ($30.33) per share, for a total transaction of £768.57 ($1,000.87). Following the completion of the sale, the insider now directly owns 780,258 shares of the company's stock, valued at $35,111,610. Also, insider SANDA PAREZANOVIC purchased 34 shares of the stock in a transaction that occurred on Wednesday, July 26th. The stock was acquired at an average price of GBX 2,243 ($29.21) per share, for a total transaction of £762.62 ($993.12). The disclosure for this sale can be found here. Over the last ninety days, insiders sold 614,841 shares of company stock worth $27,900,186.

The Company produces, sells and distributes beverage brands. Institutional investors own 63.68% of the company's stock.

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