Coca-Cola (NYSE:KO) Now Covered by Piper Sandler

Equities research analysts at Piper Sandler assumed coverage on shares of Coca-Cola (NYSE:KO) in a report released on Tuesday,Benzinga reports. The firm set an “overweight” rating and a $74.00 price target on the stock. Piper Sandler’s target price would indicate a potential upside of 21.89% from the company’s current price.

A number of other equities research analysts also recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday, December 2nd. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Barclays cut their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, Truist Financial increased their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.60.

Coca-Cola Stock Down 1.7 %

KO opened at $60.71 on Tuesday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. Coca-Cola has a 12 month low of $57.93 and a 12 month high of $73.53. The stock has a market capitalization of $261.53 billion, a P/E ratio of 25.09, a P/E/G ratio of 3.83 and a beta of 0.61. The business has a 50 day simple moving average of $63.25 and a 200-day simple moving average of $66.57.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. On average, equities analysts anticipate that Coca-Cola will post 2.85 earnings per share for the current fiscal year.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Coca-Cola

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP bought a new stake in shares of Coca-Cola in the second quarter worth $27,000. Hara Capital LLC acquired a new position in Coca-Cola during the 3rd quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola in the 3rd quarter valued at about $36,000. MidAtlantic Capital Management Inc. bought a new position in shares of Coca-Cola during the third quarter worth about $43,000. Finally, ORG Wealth Partners LLC acquired a new position in Coca-Cola in the third quarter worth about $58,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.