Coca-Cola (NYSE:KO) Price Target Cut to $75.00 by Analysts at Wells Fargo & Company

Coca-Cola (NYSE:KO - Free Report) had its target price cut by Wells Fargo & Company from $78.00 to $75.00 in a research note released on Monday,Benzinga reports. They currently have an overweight rating on the stock.

KO has been the topic of a number of other reports. Hsbc Global Res upgraded Coca-Cola to a "strong-buy" rating in a report on Friday, September 27th. Truist Financial boosted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Morgan Stanley lowered their price target on shares of Coca-Cola from $78.00 to $76.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Barclays reduced their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an "overweight" rating for the company in a research note on Friday, October 25th. Finally, Cfra restated a "hold" rating on shares of Coca-Cola in a research note on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.14.

Coca-Cola Stock Down 0.6 %

NYSE:KO traded down $0.41 during mid-day trading on Monday, reaching $63.67. The company's stock had a trading volume of 16,495,385 shares, compared to its average volume of 13,563,769. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. Coca-Cola has a 1 year low of $57.47 and a 1 year high of $73.53. The stock has a fifty day moving average of $67.07 and a 200-day moving average of $66.61. The firm has a market capitalization of $274.26 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 3.89 and a beta of 0.61.

Coca-Cola (NYSE:KO - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to analysts' expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company's revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.74 EPS. Equities research analysts forecast that Coca-Cola will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola's payout ratio is 80.17%.

Insider Buying and Selling

In other news, CEO James Quincey sold 100,000 shares of the company's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.97% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Beaird Harris Wealth Management LLC boosted its stake in shares of Coca-Cola by 57.6% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 2,409 shares of the company's stock worth $173,000 after acquiring an additional 880 shares in the last quarter. American Trust raised its holdings in Coca-Cola by 11.2% in the 3rd quarter. American Trust now owns 17,573 shares of the company's stock worth $1,263,000 after purchasing an additional 1,771 shares during the period. Franklin Resources Inc. grew its holdings in Coca-Cola by 6.1% in 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 period. Decatur Capital Management Inc. purchased a new stake in shares of Coca-Cola in the third quarter valued at approximately $3,395,000. Finally, Wilmington Savings Fund Society FSB raised its stake in shares of Coca-Cola by 222.9% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 192,237 shares of the company's stock worth $13,814,000 after buying an additional 132,701 shares during the period. 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.