Coca-Cola (NYSE:KO) Price Target Lowered to $66.00 at Barclays

Coca-Cola (NYSE:KO) had its price objective trimmed by Barclays from $73.00 to $66.00 in a research note released on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

KO has been the subject of several other research reports. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Wednesday, January 8th. UBS Group reduced their price target on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday. Piper Sandler assumed coverage on Coca-Cola in a report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price objective for the company. Finally, Wells Fargo & Company cut their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Two 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’s stock. Based on data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and an average price target of $72.13.

Coca-Cola Stock Up 0.8 %

KO opened at $62.76 on Friday. The company has a market cap of $270.34 billion, a P/E ratio of 25.93, a P/E/G ratio of 3.35 and a beta of 0.61. Coca-Cola has a 12 month low of $57.93 and a 12 month high of $73.53. The business’s 50-day moving average price is $62.71 and its 200-day moving average price is $66.41. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. On average, equities analysts expect that Coca-Cola will post 2.85 EPS for the current year.

Insider Buying and Selling

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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.97% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in shares of Coca-Cola during the second quarter valued at approximately $27,000. Hara Capital LLC bought a new position in Coca-Cola in the 3rd quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Coca-Cola during the 3rd quarter valued at $36,000. Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola in the 4th quarter worth $37,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of Coca-Cola in the third quarter worth $43,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

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.