Coca-Cola (NYSE:KO) Shares Up 1.2% – Time to Buy?

The Coca-Cola Company (NYSE:KO) shares were up 1.2% during mid-day trading on Thursday . The company traded as high as $63.95 and last traded at $63.60. Approximately 3,456,766 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 15,855,195 shares. The stock had previously closed at $62.83.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KO. UBS Group dropped their price target on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Morgan Stanley decreased their target price 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. Piper Sandler reduced 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 note on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.13.

Coca-Cola Price Performance

The company’s 50-day simple moving average is $62.65 and its 200-day simple moving average is $66.38. 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 $275.90 billion, a PE ratio of 26.47, a P/E/G ratio of 3.38 and a beta of 0.61.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated 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 sale, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.97% of the company’s stock.

Institutional Trading of Coca-Cola

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new position in shares of Coca-Cola during the 2nd quarter valued at about $27,000. Hara Capital LLC acquired a new stake in shares of Coca-Cola in the third quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola in the 3rd quarter valued at $36,000. Retirement Wealth Solutions LLC acquired a new position in shares of Coca-Cola during the 4th quarter valued at $37,000. Finally, MilWealth Group LLC purchased a new stake in Coca-Cola during the 4th quarter worth $40,000. 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.