Coca-Cola (NYSE:KO) Price Target Cut to $76.00

Coca-Cola (NYSE:KO) had its target price cut by investment analysts at Morgan Stanley from $78.00 to $76.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 13.57% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the stock. Royal Bank of Canada upped their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their target price on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Citigroup increased their price target on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. StockNews.com downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Bank of America increased their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Five 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $71.80.

Coca-Cola Stock Down 0.6 %

KO stock opened at $66.92 on Thursday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. Coca-Cola has a fifty-two week low of $55.10 and a fifty-two week high of $73.53. The stock’s 50 day simple moving average is $70.71 and its 200 day simple moving average is $65.97. The company has a market cap of $288.42 billion, a P/E ratio of 27.09, a price-to-earnings-growth ratio of 3.91 and a beta of 0.60.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The company 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 43.62% and a net margin of 22.92%. Coca-Cola’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the business earned $0.74 EPS. On average, research analysts expect that Coca-Cola will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Nancy Quan sold 18,482 shares of Coca-Cola stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $68.95, for a total value of $1,274,333.90. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Nancy Quan sold 18,482 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Quincey sold 42,397 shares of Coca-Cola stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 319,005 shares of company stock valued at $22,198,147 in the last 90 days. Insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. New Millennium Group LLC purchased a new position in Coca-Cola during the second quarter valued at approximately $26,000. Quarry LP bought a new position in Coca-Cola in the 2nd quarter valued at $27,000. Redmont Wealth Advisors LLC purchased a new position in shares of Coca-Cola during the 1st quarter valued at $28,000. ESL Trust Services LLC bought a new position in shares of Coca-Cola in the first quarter worth $28,000. Finally, DiNuzzo Private Wealth Inc. raised its position in shares of 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 buying an additional 206 shares in the last quarter. Hedge funds and other 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.