Coca-Cola (NYSE:KO) Stock Price Down 0.3% - Here's What Happened

The Coca-Cola Company (NYSE:KO - Get Free Report)'s share price traded down 0.3% during mid-day trading on Monday . The stock traded as low as $62.43 and last traded at $63.31. 3,428,757 shares traded hands during trading, a decline of 78% from the average session volume of 15,538,104 shares. The stock had previously closed at $63.48.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. UBS Group dropped their price target on Coca-Cola from $82.00 to $72.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. Piper Sandler dropped their price target on Coca-Cola from $74.00 to $73.00 and set an "overweight" rating for the company in a research note on Thursday, January 23rd. JPMorgan Chase & Co. decreased their target price on Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. 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 report on Wednesday, October 16th. Finally, Barclays decreased their target price on Coca-Cola from $73.00 to $66.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $72.13.

Coca-Cola Price Performance

The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The company has a market cap of $272.95 billion, a P/E ratio of 26.18, a P/E/G ratio of 3.56 and a beta of 0.61. The firm has a 50 day moving average price of $62.65 and a two-hundred day moving average price of $66.39.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the firm'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 transaction of $6,403,000.00. Following the transaction, the chief executive officer now directly 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 through the SEC website. Insiders own 0.97% of the company's stock.

Institutional Investors Weigh In On Coca-Cola

A number of large investors have recently made changes to their positions in the business. Investment Advisory Group LLC boosted its stake in shares of Coca-Cola by 4.5% in the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company's stock worth $243,000 after buying an additional 146 shares during the last quarter. CCG Wealth Management LLC boosted its stake in shares of Coca-Cola by 4.3% in the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company's stock worth $260,000 after buying an additional 149 shares during the last quarter. Investment Partners Asset Management Inc. boosted its stake in shares of Coca-Cola by 2.2% in the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company's stock worth $500,000 after buying an additional 150 shares during the last quarter. Chapin Davis Inc. boosted its stake in shares of Coca-Cola by 1.0% in the third quarter. Chapin Davis Inc. now owns 15,312 shares of the company's stock worth $1,100,000 after buying an additional 153 shares during the last quarter. Finally, Blossom Wealth Management boosted its stake in shares of Coca-Cola by 3.3% in the third quarter. Blossom Wealth Management now owns 4,890 shares of the company's stock worth $351,000 after buying an additional 155 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

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.

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