Coca-Cola (NYSE:KO) Trading Up 1.2% - Still a Buy?

The Coca-Cola Company (NYSE:KO - Get Free Report) shares traded up 1.2% on Thursday . The stock traded as high as $63.95 and last traded at $63.60. 3,456,766 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 15,855,195 shares. The stock had previously closed at $62.83.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a "hold" rating to a "buy" rating and raised their target price for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. TD Cowen raised Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective on the stock in a research note on Wednesday, January 8th. Barclays cut their price objective on Coca-Cola from $73.00 to $66.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. JPMorgan Chase & Co. 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 note on Tuesday, January 28th. Finally, Wells Fargo & Company dropped their price target on shares of Coca-Cola from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $72.13.

Coca-Cola Stock Performance

The firm has a fifty day moving average price of $62.65 and a 200 day moving average price of $66.39. 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 firm has a market cap of $272.95 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the company'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 transaction of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.97% of the company's stock.

Institutional Investors Weigh In On Coca-Cola

Large investors have recently modified their holdings of the company. Quarry LP acquired a new stake in Coca-Cola during the 2nd quarter worth $27,000. Hara Capital LLC acquired a new stake in shares of Coca-Cola during the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola in the 3rd quarter valued at about $36,000. MidAtlantic Capital Management Inc. purchased a new position in Coca-Cola during the 3rd quarter worth approximately $43,000. Finally, Retirement Wealth Solutions LLC acquired a new position in Coca-Cola during the fourth quarter worth approximately $37,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

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.