Coca-Cola (NYSE:KO – Get Free Report) had its price target hoisted by equities researchers at Truist Financial from $70.00 to $80.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 13.46% from the company’s previous close.
Several other research analysts have also recently commented on the company. BNP Paribas started coverage on Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 target price for the company. Wells Fargo & Company boosted their target price on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Bank of America lifted their price target on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Citigroup boosted their target price on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Barclays boosted their price target on Coca-Cola from $70.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $72.00.
Get Our Latest Stock Report on Coca-Cola
Coca-Cola Stock Performance
Coca-Cola (NYSE:KO – Get Free Report) last announced its earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. On average, analysts expect that Coca-Cola will post 2.85 earnings per share for the current year.
Insider Activity at Coca-Cola
In other news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. This represents a 0.00 % 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. In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 356,792 shares of company stock valued at $24,728,364 over the last quarter. 0.97% of the stock is owned by company insiders.
Institutional Trading of Coca-Cola
Several large investors have recently bought and sold shares of the business. New Millennium Group LLC acquired a new stake in Coca-Cola in the second quarter valued at approximately $26,000. Quarry LP purchased a new position in shares of Coca-Cola during the second quarter valued at approximately $27,000. Redmont Wealth Advisors LLC purchased a new position in Coca-Cola in the first quarter worth $28,000. ESL Trust Services LLC purchased a new position in Coca-Cola in the first quarter worth $28,000. Finally, DiNuzzo Private Wealth Inc. boosted its position in Coca-Cola by 65.0% in the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after purchasing an additional 206 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.
About Coca-Cola
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.
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