The Coca-Cola (NYSE:KO) Given New $65.00 Price Target at Truist

The Coca-Cola (NYSE:KO) had its target price lifted by stock analysts at Truist from $60.00 to $65.00 in a note issued to investors on Thursday, The Fly reports. The firm currently has a “buy” rating on the stock. Truist’s price target would indicate a potential upside of 15.19% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of The Coca-Cola from $58.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday. Argus increased their target price on shares of The Coca-Cola from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, June 17th. Jefferies Financial Group increased their target price on shares of The Coca-Cola from $57.00 to $59.00 and gave the stock a “hold” rating in a research note on Friday, July 16th. Citigroup increased their target price on shares of The Coca-Cola from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Wolfe Research initiated coverage on shares of The Coca-Cola in a research note on Monday, April 12th. They issued a “peer perform” rating on the stock. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The Coca-Cola currently has an average rating of “Buy” and a consensus target price of $60.33.

Shares of KO stock opened at $56.43 on Thursday. The stock has a market cap of $243.31 billion, a PE ratio of 33.84, a P/E/G ratio of 3.35 and a beta of 0.61. The company has a quick ratio of 1.13, a current ratio of 1.33 and a debt-to-equity ratio of 1.80. The company’s 50 day simple moving average is $54.97. The Coca-Cola has a 12 month low of $46.22 and a 12 month high of $57.56.

The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 20th. The company reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.12. The company had revenue of $10.10 billion for the quarter, compared to analysts’ expectations of $9.30 billion. The Coca-Cola had a net margin of 21.59% and a return on equity of 41.48%. The Coca-Cola’s revenue was up 40.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 EPS. On average, sell-side analysts anticipate that The Coca-Cola will post 2.19 EPS for the current fiscal year.

In other news, CEO James Quincey sold 110,000 shares of The Coca-Cola stock in a transaction dated Friday, April 23rd. The shares were sold at an average price of $54.48, for a total transaction of $5,992,800.00. Following the sale, the chief executive officer now owns 266,718 shares of the company’s stock, valued at approximately $14,530,796.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Nancy Quan sold 19,911 shares of The Coca-Cola stock in a transaction dated Friday, July 16th. The shares were sold at an average price of $56.50, for a total transaction of $1,124,971.50. Following the sale, the senior vice president now directly owns 196,745 shares in the company, valued at approximately $11,116,092.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 185,303 shares of company stock worth $10,213,630. 1.01% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Retirement Group LLC lifted its position in The Coca-Cola by 70.4% during the 1st quarter. Retirement Group LLC now owns 484 shares of the company’s stock valued at $26,000 after acquiring an additional 200 shares during the period. CBIZ Investment Advisory Services LLC raised its holdings in The Coca-Cola by 136.3% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,229 shares of the company’s stock worth $28,000 after buying an additional 709 shares during the last quarter. Paradigm Strategies in Wealth Management LLC purchased a new position in The Coca-Cola in the first quarter worth about $29,000. Elkhorn Partners Limited Partnership purchased a new position in The Coca-Cola in the first quarter worth about $32,000. Finally, Alpha DNA Investment Management LLC purchased a new position in The Coca-Cola in the fourth quarter worth about $35,000. 66.21% of the stock is owned by institutional investors.

About The Coca-Cola

The Coca-Cola Co is the nonalcoholic beverage company, which engages in the manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks, water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater, and Ice Dew.

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