Coca-Cola (NYSE:KO) Given New $75.00 Price Target at Wells Fargo & Company

Coca-Cola (NYSE:KO) had its target price cut by equities researchers at Wells Fargo & Company from $78.00 to $75.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 17.52% from the stock’s previous close.

KO has been the subject of several other research reports. Morgan Stanley dropped their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Truist Financial lifted 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. Barclays cut their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Finally, Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $72.14.

Coca-Cola Price Performance

NYSE:KO traded down $0.26 during mid-day trading on Monday, hitting $63.82. 3,855,986 shares of the company’s stock traded hands, compared to its average volume of 13,504,776. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. Coca-Cola has a 1 year low of $57.47 and a 1 year high of $73.53. The company has a market cap of $274.92 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 3.89 and a beta of 0.61. The firm’s 50 day simple moving average is $67.07 and its 200 day simple moving average is $66.61.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS 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%. Coca-Cola’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 EPS. Sell-side analysts expect that Coca-Cola will post 2.85 EPS for the current year.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.97% of the company’s stock.

Institutional Trading of Coca-Cola

Several hedge funds have recently made changes to their positions in the stock. New Millennium Group LLC acquired a new stake in shares of Coca-Cola in the second quarter valued at approximately $26,000. Quarry LP acquired a new position in Coca-Cola during the 2nd quarter worth $27,000. Hara Capital LLC acquired a new position in shares of Coca-Cola during the third quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola in the third quarter worth about $36,000. Finally, Mount Lucas Management LP bought a new position in Coca-Cola in the 2nd quarter valued at about $38,000. Institutional investors own 70.26% of the company’s stock.

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.