Coca-Cola (NYSE:KO) Given New $70.00 Price Target at JPMorgan Chase & Co.

Coca-Cola (NYSE:KO - Get Free Report) had its price target dropped by research analysts at JPMorgan Chase & Co. from $75.00 to $70.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 12.29% from the stock's previous close.

A number of other equities research analysts also recently commented on KO. TD Cowen upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective for the company in a research report on Wednesday, January 8th. Barclays dropped 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. Wells Fargo & Company lowered 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. Truist Financial boosted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley lowered their target price on Coca-Cola from $78.00 to $76.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $71.93.

Coca-Cola Stock Performance

NYSE KO traded down $1.53 on Tuesday, hitting $62.34. The stock had a trading volume of 14,935,967 shares, compared to its average volume of 16,871,191. Coca-Cola has a one year low of $57.93 and a one year high of $73.53. The stock has a market cap of $268.55 billion, a price-to-earnings ratio of 25.76, a P/E/G ratio of 3.38 and a beta of 0.61. The company's 50-day moving average is $62.66 and its two-hundred day moving average is $66.42. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Insider Transactions at Coca-Cola

In other 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.97% of the company's stock.

Institutional Investors Weigh In On Coca-Cola

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC raised its holdings in Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company's stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares during the period. Geode Capital Management LLC lifted its position 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 worth $6,664,005,000 after purchasing an additional 2,966,964 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Coca-Cola by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company's stock valued at $2,271,885,000 after acquiring an additional 4,013,996 shares in the last quarter. Franklin Resources Inc. boosted its position in Coca-Cola by 6.1% during the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company's stock valued at $1,990,407,000 after purchasing an additional 1,609,565 shares during the last quarter. Finally, Truist Financial Corp grew its stake in Coca-Cola by 1.1% in the second quarter. Truist Financial Corp now owns 16,362,598 shares of the company's stock valued at $1,041,479,000 after purchasing an additional 177,241 shares in the last quarter. 70.26% of the stock is 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.