Coca-Cola (NYSE:KO) Price Target Cut to $70.00 by Analysts at Wells Fargo & Company

Coca-Cola (NYSE:KO) had its price objective lowered by stock analysts at Wells Fargo & Company from $75.00 to $70.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 14.45% from the company’s previous close.

KO has been the subject of several other reports. Truist Financial upped their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley dropped their target price 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. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, Barclays decreased their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $72.27.

Coca-Cola Stock Performance

Coca-Cola stock opened at $61.16 on Tuesday. The stock has a fifty day moving average price of $63.25 and a 200 day moving average price of $66.57. 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 has a 52 week low of $57.93 and a 52 week high of $73.53. The firm has a market capitalization of $263.46 billion, a P/E ratio of 25.27, a PEG ratio of 3.83 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to the consensus estimate 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 was down .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.74 earnings per share. Equities research analysts anticipate that Coca-Cola will post 2.85 earnings per share for the current year.

Insider Activity

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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.97% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KO. Apella Capital LLC grew its holdings in shares of Coca-Cola by 1.4% during the 3rd quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock valued at $748,000 after acquiring an additional 146 shares in the last quarter. Investment Advisory Group LLC grew its stake in Coca-Cola by 4.5% in the third quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock valued at $243,000 after purchasing an additional 146 shares in the last quarter. CCG Wealth Management LLC increased its position in Coca-Cola by 4.3% in the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after purchasing an additional 149 shares during the last quarter. Investment Partners Asset Management Inc. raised its stake in shares of Coca-Cola by 2.2% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock worth $500,000 after purchasing an additional 150 shares in the last quarter. Finally, Chapin Davis Inc. lifted its holdings in shares of Coca-Cola by 1.0% during the 3rd quarter. Chapin Davis Inc. now owns 15,312 shares of the company’s stock valued at $1,100,000 after buying an additional 153 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

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.