Barclays Has Lowered Expectations for Coca-Cola (NYSE:KO) Stock Price

Coca-Cola (NYSE:KO - Free Report) had its price objective reduced by Barclays from $73.00 to $66.00 in a report released on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also issued reports on KO. Morgan Stanley dropped their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Piper Sandler started coverage on Coca-Cola in a research report on Tuesday, January 7th. They issued an "overweight" rating and a $74.00 price objective on the stock. TD Cowen upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price for the company in a research note on Wednesday, January 8th. Hsbc Global Res upgraded Coca-Cola to a "strong-buy" rating in a report on Friday, September 27th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and lifted their price objective for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $72.13.

Coca-Cola Trading Up 0.8 %

Shares of NYSE KO traded up $0.51 on Friday, reaching $62.76. 17,877,164 shares of the company traded hands, compared to its average volume of 16,116,259. The stock has a market capitalization of $270.34 billion, a PE ratio of 25.93, a P/E/G ratio of 3.35 and a beta of 0.61. Coca-Cola has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The company has a 50 day moving average of $62.71 and a 200 day moving average of $66.41.

Coca-Cola (NYSE:KO - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion for the quarter, compared to analysts' expectations of $11.61 billion. During the same quarter last year, the firm earned $0.74 earnings per share. The firm's revenue for the quarter was down .8% compared to the same quarter last year. On average, equities research analysts forecast that Coca-Cola will post 2.85 earnings per share for the current fiscal year.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the firm'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 transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.97% of the company's stock.

Hedge Funds Weigh In On Coca-Cola

Large investors have recently bought and sold shares of the business. Quarry LP bought a new stake in shares of Coca-Cola in the 2nd quarter worth approximately $27,000. Hara Capital LLC bought a new stake in Coca-Cola in the third quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola in the third quarter valued at $36,000. Retirement Wealth Solutions LLC acquired a new position in shares of Coca-Cola during the fourth quarter valued at $37,000. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Coca-Cola during the third quarter worth about $43,000. Institutional investors own 70.26% of the company's stock.

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.