Coca-Cola (NYSE:KO) Price Target Cut to $70.00 by Analysts at JPMorgan Chase & Co.

Coca-Cola (NYSE:KO) had its target price cut by JPMorgan Chase & Co. from $75.00 to $70.00 in a research report released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

KO has been the topic of a number of other reports. Piper Sandler decreased their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Morgan Stanley reduced their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Truist Financial lifted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company reduced their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $71.93.

Coca-Cola Price Performance

Coca-Cola stock opened at $62.34 on Tuesday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The company has a market capitalization of $268.55 billion, a price-to-earnings ratio of 25.76, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61. The company’s 50 day simple moving average is $62.66 and its 200-day simple moving average is $66.42. Coca-Cola has a 1 year low of $57.93 and a 1 year high of $73.53.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the stock in a transaction on Friday, November 8th. The shares were 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 of the company’s stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Coca-Cola

Several hedge funds have recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of Coca-Cola in the second quarter valued at approximately $27,000. EP Wealth Advisors LLC boosted its stake in Coca-Cola by 2.1% during the 2nd quarter. EP Wealth Advisors LLC now owns 98,187 shares of the company’s stock worth $6,250,000 after purchasing an additional 2,032 shares during the period. Pathway Financial Advisers LLC grew its position in Coca-Cola by 1.2% during the 2nd quarter. Pathway Financial Advisers LLC now owns 34,875 shares of the company’s stock worth $2,216,000 after purchasing an additional 416 shares during the last quarter. Truist Financial Corp increased its stake in Coca-Cola by 1.1% in the second quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock valued at $1,041,479,000 after purchasing an additional 177,241 shares during the period. Finally, Advisory Alpha LLC raised its holdings in shares of Coca-Cola by 6.0% in the second quarter. Advisory Alpha LLC now owns 14,101 shares of the company’s stock valued at $898,000 after buying an additional 804 shares during 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.