Coca-Cola (NYSE:KO) Price Target Lowered to $73.00 at Piper Sandler

Coca-Cola (NYSE:KO - Free Report) had its price target cut by Piper Sandler from $74.00 to $73.00 in a research report sent to investors on Thursday, Marketbeat Ratings reports. They currently have an overweight rating on the stock.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company reduced their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. UBS Group reduced their price target on Coca-Cola from $82.00 to $72.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. Truist Financial lifted their target price on 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 raised shares of Coca-Cola from a "hold" rating to a "buy" rating and increased their price target for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, Hsbc Global Res raised shares of Coca-Cola to a "strong-buy" rating in a research report on Friday, September 27th. 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $72.07.

Coca-Cola Trading Up 0.7 %

NYSE KO traded up $0.45 during trading hours on Thursday, hitting $61.98. 19,239,652 shares of the company were exchanged, compared to its average volume of 16,741,768. The stock has a market cap of $267.01 billion, a PE ratio of 25.61, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61. Coca-Cola has a 52 week low of $57.93 and a 52 week high of $73.53. The stock has a 50-day moving average price of $62.61 and a 200 day moving average price of $66.37. 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 (NYSE:KO - Get Free Report) last posted its quarterly earnings data 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. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same period in the prior year, the company posted $0.74 EPS. The firm's revenue for the quarter was down .8% on a year-over-year basis. Analysts forecast that Coca-Cola will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO James Quincey sold 100,000 shares of the business's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares of the company's stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.97% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coca-Cola

A number of institutional investors have recently modified their holdings of the business. Apella Capital LLC raised its position in shares of Coca-Cola by 1.4% in the third quarter. Apella Capital LLC now owns 10,533 shares of the company's stock valued at $748,000 after purchasing an additional 146 shares during the period. Investment Advisory Group LLC grew its stake in Coca-Cola by 4.5% in the 3rd quarter. Investment Advisory Group LLC now owns 3,378 shares of the company's stock valued at $243,000 after buying an additional 146 shares during the last quarter. CCG Wealth Management LLC raised its holdings in Coca-Cola by 4.3% in the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company's stock worth $260,000 after acquiring an additional 149 shares during the period. Investment Partners Asset Management Inc. lifted its position in Coca-Cola by 2.2% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company's stock worth $500,000 after acquiring an additional 150 shares during the last quarter. Finally, Chapin Davis Inc. boosted its holdings in Coca-Cola by 1.0% during the third quarter. Chapin Davis Inc. now owns 15,312 shares of the company's stock valued at $1,100,000 after acquiring an additional 153 shares during the period. 70.26% of the stock is currently 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.