Wells Fargo & Company Lowers Coca-Cola (NYSE:KO) Price Target to $75.00

Coca-Cola (NYSE:KO) had its price target lowered by investment analysts at Wells Fargo & Company from $78.00 to $75.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 17.52% from the stock’s current price.

Several other research firms also recently weighed in on KO. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Truist Financial increased their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Barclays cut 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. Finally, Morgan Stanley lowered their target price 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. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average target price of $72.14.

Coca-Cola Trading Down 0.4 %

Shares of NYSE:KO traded down $0.26 during trading on Monday, hitting $63.82. The company had a trading volume of 3,855,986 shares, compared to its average volume of 13,504,776. The stock has a market cap of $274.92 billion, a price-to-earnings ratio of 26.41, a price-to-earnings-growth ratio of 3.89 and a beta of 0.61. The company has a fifty day simple moving average of $67.07 and a two-hundred day simple moving average of $66.61. Coca-Cola has a one year low of $57.47 and a one year high of $73.53. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

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

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction 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 transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Coca-Cola

Several institutional investors have recently bought and sold shares of KO. FMR LLC boosted its stake in shares of Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after buying an additional 11,206,995 shares in the last quarter. Geode Capital Management LLC lifted its holdings 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 valued at $6,664,005,000 after acquiring an additional 2,966,964 shares during the period. Legal & General Group Plc boosted its position in shares of Coca-Cola by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock worth $2,463,373,000 after purchasing an additional 1,084,475 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Coca-Cola by 14.5% during the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after purchasing an additional 4,013,996 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of Coca-Cola by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock valued at $1,990,407,000 after purchasing an additional 1,609,565 shares in the last quarter. 70.26% of the stock is 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.