The Coca-Cola Company (NYSE:KO) Receives Average Rating of “Buy” from Analysts

Shares of The Coca-Cola Company (NYSE:KO) have earned an average rating of “Buy” from the eighteen research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $72.13.

Several analysts recently issued reports on the stock. Truist Financial upped their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Barclays cut their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Morgan Stanley dropped their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Piper Sandler decreased their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd.

Coca-Cola Stock Performance

KO opened at $63.46 on Monday. The stock has a 50-day moving average of $62.65 and a 200-day moving average of $66.37. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. Coca-Cola has a 52-week low of $57.93 and a 52-week high of $73.53. The company has a market cap of $273.38 billion, a PE ratio of 26.22, a price-to-earnings-growth ratio of 3.52 and a beta of 0.61.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.97% of the company’s stock.

Institutional Trading of Coca-Cola

Hedge funds have recently modified their holdings of the company. Global Retirement Partners LLC boosted its holdings in shares of Coca-Cola by 3.1% in the fourth quarter. Global Retirement Partners LLC now owns 87,924 shares of the company’s stock valued at $5,474,000 after buying an additional 2,635 shares during the period. Northcape Wealth Management LLC boosted its position in Coca-Cola by 0.6% during the fourth quarter. Northcape Wealth Management LLC now owns 44,181 shares of the company’s stock valued at $2,751,000 after purchasing an additional 251 shares during the last quarter. Bank of Jackson Hole Trust bought a new position in Coca-Cola in the fourth quarter valued at approximately $91,000. Klingman & Associates LLC boosted its holdings in shares of Coca-Cola by 4.8% in the 4th quarter. Klingman & Associates LLC now owns 9,510 shares of the company’s stock valued at $592,000 after buying an additional 438 shares during the last quarter. Finally, Callahan Advisors LLC grew its stake in shares of Coca-Cola by 2.6% in the fourth quarter. Callahan Advisors LLC now owns 52,616 shares of the company’s stock valued at $3,276,000 after buying an additional 1,318 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

About Coca-Cola

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.