Coca-Cola (NYSE:KO) Upgraded by Jefferies Financial Group to Buy Rating

Coca-Cola (NYSE:KO) was upgraded by equities research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a report issued on Thursday,Finviz reports. The firm currently has a $75.00 target price on the stock, up from their prior target price of $69.00. Jefferies Financial Group’s price target indicates a potential upside of 19.32% from the company’s previous close.

A number of other research analysts have also commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday. Piper Sandler decreased their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, Wells Fargo & Company dropped their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $72.13.

Coca-Cola Price Performance

NYSE KO opened at $62.86 on Thursday. Coca-Cola has a 12 month low of $57.93 and a 12 month high of $73.53. 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 firm has a market capitalization of $270.77 billion, a PE ratio of 25.97, a P/E/G ratio of 3.38 and a beta of 0.61. The company’s 50 day simple moving average is $62.65 and its 200 day simple moving average is $66.41.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction 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. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Coca-Cola

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP bought a new stake in Coca-Cola in the second quarter worth $27,000. Sanctuary Advisors LLC acquired a new position in shares of Coca-Cola during the second quarter valued at about $23,007,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Coca-Cola by 84.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,007,300 shares of the company’s stock valued at $64,115,000 after buying an additional 460,453 shares during the last quarter. Ashburton Jersey Ltd bought a new stake in Coca-Cola in the second quarter valued at about $828,000. Finally, Mattson Financial Services LLC bought a new stake in Coca-Cola in the second quarter valued at about $2,636,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

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.