The Coca-Cola Company (NYSE:KO - Get Free Report) shares traded up 0.4% on Wednesday . The stock traded as high as $63.06 and last traded at $62.94. 2,948,053 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 15,383,436 shares. The stock had previously closed at $62.67.
Analysts Set New Price Targets
A number of equities research analysts have commented on the company. Morgan Stanley decreased their price target on Coca-Cola from $78.00 to $76.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company lowered their target price on Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Jefferies Financial Group raised shares of Coca-Cola from a "hold" rating to a "buy" rating and lifted their price target for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Piper Sandler dropped 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 Thursday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a "hold" rating to a "buy" rating and upped their price target for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Coca-Cola has a consensus rating of "Moderate Buy" and an average price target of $72.13.
Get Our Latest Report on Coca-Cola
Coca-Cola Stock Performance
The stock has a market cap of $272.19 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61. The stock's 50-day simple moving average is $62.59 and its two-hundred day simple moving average is $66.36. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.
Insider Buying and Selling
In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business's stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 342,546 shares of the company's stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 hedge funds and other institutional investors have recently bought and sold shares of KO. FMR LLC increased its position 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 grew its holdings in shares of 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 purchasing an additional 2,966,964 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Coca-Cola by 14.5% during the third 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 in the last quarter. Franklin Resources Inc. grew its stake in Coca-Cola by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company's stock worth $1,990,407,000 after buying an additional 1,609,565 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its stake in shares of Coca-Cola by 2.2% during the fourth quarter. Vontobel Holding Ltd. now owns 16,021,195 shares of the company's stock worth $997,480,000 after purchasing an additional 351,462 shares during the last quarter. Institutional investors own 70.26% of the company's stock.
About Coca-Cola
(
Get Free Report)
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.
Further Reading
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