JPMorgan Chase & Co. Lowers Coca-Cola (NYSE:KO) Price Target to $70.00

Coca-Cola (NYSE:KO) had its target price reduced by research analysts at JPMorgan Chase & Co. from $75.00 to $70.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 10.53% from the company’s previous close.

A number of other research analysts also recently weighed in on KO. Truist Financial increased their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley dropped their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Wednesday, January 8th. Piper Sandler dropped their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Finally, Barclays reduced their price target on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average target price of $71.93.

Coca-Cola Price Performance

Shares of KO traded down $0.54 on Tuesday, hitting $63.33. The company’s stock had a trading volume of 1,669,685 shares, compared to its average volume of 16,080,114. The company has a 50 day moving average price of $62.62 and a 200 day moving average price of $66.41. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The company has a market capitalization of $272.83 billion, a PE ratio of 26.17, a PEG ratio of 3.38 and a beta of 0.61. Coca-Cola has a fifty-two week low of $57.93 and a fifty-two week high of $73.53.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, 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 SEC, which can be accessed through this link. 0.97% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of KO. FMR LLC raised its stake in Coca-Cola by 13.7% during the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after acquiring an additional 11,206,995 shares during the last quarter. Wellington Management Group LLP boosted its position in Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after purchasing an additional 4,013,996 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Coca-Cola during the 3rd quarter valued at about $269,382,000. Geode Capital Management LLC lifted its stake in Coca-Cola by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after buying an additional 2,966,964 shares in the last quarter. Finally, Pathway Financial Advisers LLC increased its position in Coca-Cola by 7,006.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock worth $178,104,000 after purchasing an additional 2,443,612 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

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.