Piper Sandler Initiates Coverage on Coca-Cola (NYSE:KO)

Research analysts at Piper Sandler started coverage on shares of Coca-Cola (NYSE:KO) in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm set an “overweight” rating and a $74.00 price target on the stock. Piper Sandler’s price target would indicate a potential upside of 19.88% from the stock’s previous close.

A number of other analysts have also recently commented on KO. Truist Financial increased their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Barclays lowered their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company reduced their target price on Coca-Cola from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, December 2nd. Finally, Morgan Stanley dropped their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $72.60.

Coca-Cola Price Performance

NYSE KO opened at $61.73 on Tuesday. The firm’s 50 day moving average is $63.07 and its 200-day moving average is $66.52. 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 company has a market capitalization of $265.92 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61.

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

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.97% of the company’s stock.

Institutional Trading of Coca-Cola

Large investors have recently modified their holdings of the stock. Quarry LP acquired a new position in Coca-Cola during the second quarter valued at approximately $27,000. Hara Capital LLC bought a new position in shares of Coca-Cola in the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Coca-Cola during the 3rd quarter worth $36,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Coca-Cola during the 3rd quarter worth $43,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of Coca-Cola during the 3rd quarter worth $58,000. 70.26% of the stock is owned by institutional investors and hedge funds.

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.