Coca-Cola (NYSE:KO) Price Target Cut to $73.00

Coca-Cola (NYSE:KO) had its price objective lowered by stock analysts at Barclays from $74.00 to $73.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 9.09% from the stock’s current price.

KO has been the subject of several other reports. Citigroup lifted their price target on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Morgan Stanley decreased 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 note on Thursday. Royal Bank of Canada lifted their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, Bank of America lifted their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $71.80.

Coca-Cola Stock Down 0.6 %

KO opened at $66.92 on Friday. The stock’s fifty day simple moving average is $70.66 and its 200 day simple moving average is $66.06. Coca-Cola has a 1-year low of $55.10 and a 1-year high of $73.53. The stock has a market cap of $288.42 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 3.91 and a beta of 0.60. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. Coca-Cola’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the company posted $0.74 EPS. As a group, research analysts expect that Coca-Cola will post 2.85 earnings per share for the current year.

Insider Activity

In related news, EVP Nancy Quan sold 18,482 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $15,398,603.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Nancy Quan sold 18,482 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,398,603.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO James Quincey sold 102,533 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 319,005 shares of company stock worth $22,198,147. Corporate insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Coca-Cola

Several institutional investors and hedge funds have recently added to or reduced their stakes in KO. New Millennium Group LLC bought a new position in shares of Coca-Cola during the second quarter worth about $26,000. Quarry LP acquired a new position in shares of Coca-Cola in the 2nd quarter worth approximately $27,000. Redmont Wealth Advisors LLC bought a new stake in shares of Coca-Cola in the 1st quarter valued at $28,000. ESL Trust Services LLC bought a new position in Coca-Cola during the first quarter worth $28,000. Finally, DiNuzzo Private Wealth Inc. lifted its holdings in Coca-Cola by 65.0% in the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after buying an additional 206 shares during the period. 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.