Coca-Cola (NYSE:KO) Given New $66.00 Price Target at Barclays

Coca-Cola (NYSE:KO) had its price target reduced by investment analysts at Barclays from $73.00 to $66.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 5.44% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company cut their price target 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. UBS Group cut their target price on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday. Morgan Stanley decreased their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, Truist Financial lifted their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Two investment 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.13.

Coca-Cola Stock Up 0.6 %

Shares of NYSE KO traded up $0.35 on Friday, hitting $62.60. The company had a trading volume of 7,045,577 shares, compared to its average volume of 15,110,957. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. Coca-Cola has a 12-month low of $57.93 and a 12-month high of $73.53. The firm has a market capitalization of $269.65 billion, a P/E ratio of 25.88, a PEG ratio of 3.35 and a beta of 0.61. The business has a 50 day moving average of $62.74 and a two-hundred day moving average of $66.44.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Coca-Cola’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 EPS. As a group, equities research analysts forecast that Coca-Cola will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.97% of the stock is owned by insiders.

Institutional Trading of Coca-Cola

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

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.