Coca-Cola (NYSE:KO) PT Raised to $68.00

Coca-Cola (NYSE:KO) had its target price upped by equities researchers at JPMorgan Chase & Co. from $65.00 to $68.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 9.37% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on KO. Citigroup raised their price target on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Evercore ISI lifted their price target on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Barclays increased their price objective on shares of Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus price target of $68.27.

Coca-Cola Price Performance

Shares of KO traded up $0.18 during mid-day trading on Wednesday, reaching $62.18. The company had a trading volume of 11,627,983 shares, compared to its average volume of 14,021,238. The company’s 50-day moving average is $60.22 and its 200-day moving average is $59.06. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.95. The company has a market capitalization of $268.05 billion, a P/E ratio of 24.87, a P/E/G ratio of 3.54 and a beta of 0.57. Coca-Cola has a twelve month low of $51.55 and a twelve month high of $64.25.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the company posted $0.68 EPS. On average, equities analysts anticipate that Coca-Cola will post 2.81 EPS for the current year.

Insider Activity

In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $13,594,097.10. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO James Quincey sold 247,188 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. Insiders have sold a total of 323,107 shares of company stock valued at $19,657,742 in the last 90 days. 0.97% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coca-Cola

Institutional investors have recently added to or reduced their stakes in the stock. Insigneo Advisory Services LLC lifted its holdings in shares of Coca-Cola by 12.2% in the third quarter. Insigneo Advisory Services LLC now owns 41,683 shares of the company’s stock valued at $2,354,000 after purchasing an additional 4,527 shares in the last quarter. Birchcreek Wealth Management LLC grew its stake in shares of Coca-Cola by 12.6% during the 4th quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock worth $267,000 after acquiring an additional 507 shares in the last quarter. HF Advisory Group LLC lifted its position in shares of Coca-Cola by 7.6% in the third quarter. HF Advisory Group LLC now owns 6,770 shares of the company’s stock worth $379,000 after purchasing an additional 476 shares in the last quarter. Wahed Invest LLC lifted its position in shares of Coca-Cola by 10.3% in the third quarter. Wahed Invest LLC now owns 61,355 shares of the company’s stock worth $3,435,000 after purchasing an additional 5,707 shares in the last quarter. Finally, Smart Money Group LLC grew its position in Coca-Cola by 21.6% in the fourth quarter. Smart Money Group LLC now owns 4,932 shares of the company’s stock valued at $291,000 after purchasing an additional 877 shares in the last quarter. 70.26% of the stock is owned by 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.