Coca-Cola (NYSE:KO) Raised to Buy at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Coca-Cola (NYSE:KO - Free Report) from a hold rating to a buy rating in a report published on Thursday, Marketbeat reports. The firm currently has $75.00 price target on the stock, up from their prior price target of $69.00.

Other equities analysts have also issued research reports about the company. Barclays dropped their target price on Coca-Cola from $73.00 to $66.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. TD Cowen raised Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. Truist Financial increased their target price on Coca-Cola from $70.00 to $80.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Wells Fargo & Company dropped their price objective on Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Finally, Piper Sandler dropped their price objective on Coca-Cola from $74.00 to $73.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Coca-Cola currently has an average rating of "Moderate Buy" and an average price target of $72.13.

Coca-Cola Stock Up 1.4 %

Shares of Coca-Cola stock traded up $0.91 during trading hours on Thursday, reaching $63.74. 8,209,850 shares of the company were exchanged, compared to its average volume of 16,108,944. Coca-Cola has a 1 year low of $57.93 and a 1 year high of $73.53. The stock's fifty day moving average is $62.65 and its 200 day moving average is $66.38. 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 firm has a market cap of $274.58 billion, a PE ratio of 26.40, a PEG ratio of 3.38 and a beta of 0.61.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola 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 completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.97% of the company's stock.

Institutional Investors Weigh In On Coca-Cola

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Empire Life Investments Inc. purchased a new stake in Coca-Cola in the 4th quarter worth approximately $2,706,000. BXM Wealth LLC purchased a new stake in Coca-Cola in the 4th quarter worth approximately $211,000. PUREfi Wealth LLC purchased a new stake in Coca-Cola in the 4th quarter worth approximately $274,000. Bank Pictet & Cie Europe AG grew its stake in Coca-Cola by 12.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 19,102 shares of the company's stock worth $1,189,000 after acquiring an additional 2,072 shares during the period. Finally, Blue Trust Inc. grew its stake in Coca-Cola by 221.0% in the 4th quarter. Blue Trust Inc. now owns 966,554 shares of the company's stock worth $60,178,000 after acquiring an additional 665,485 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

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.