Coca-Cola (NYSE:KO) Trading Down 0.3% - Here's Why

The Coca-Cola Company (NYSE:KO - Get Free Report) traded down 0.3% during trading on Monday . The stock traded as low as $62.43 and last traded at $63.31. 3,428,757 shares changed hands during mid-day 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 equities analysts recently commented on KO shares. TD Cowen upgraded shares of 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. Barclays dropped their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Morgan Stanley cut their target price on shares of 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 decreased their target price on shares of Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a "hold" rating to a "buy" rating and lifted their target price 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 assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $72.19.

Coca-Cola Stock Performance

The firm has a market cap of $272.96 billion, a P/E ratio of 26.18, a PEG ratio of 3.56 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The stock's 50 day moving average is $62.56 and its two-hundred day moving average is $66.34.

Insider Transactions at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.97% of the company's stock.

Institutional Trading of Coca-Cola

Institutional investors have recently made changes to their positions in the business. Harvest Portfolios Group Inc. acquired a new position in Coca-Cola during the third quarter worth approximately $18,383,000. Balentine LLC increased its holdings in shares of Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company's stock worth $2,048,000 after acquiring an additional 13,685 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its stake in Coca-Cola by 104.9% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company's stock valued at $8,351,000 after acquiring an additional 59,503 shares during the period. Rice Partnership LLC increased its holdings in shares of Coca-Cola by 7.1% in the fourth quarter. Rice Partnership LLC now owns 102,746 shares of the company's stock valued at $6,397,000 after purchasing an additional 6,793 shares during the last quarter. Finally, Fiduciary Alliance LLC raised its position in shares of Coca-Cola by 87.7% in the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company's stock valued at $1,132,000 after purchasing an additional 8,499 shares during the period. Institutional investors own 70.26% of the company's stock.

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.