Wells Fargo & Company Issues Pessimistic Forecast for Coca-Cola (NYSE:KO) Stock Price

Coca-Cola (NYSE:KO) had its price target 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 presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 18.05% from the stock’s previous close.

Several other analysts also recently commented on the stock. Morgan Stanley lowered their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Barclays dropped their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, Truist Financial raised their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.14.

Coca-Cola Trading Down 0.2 %

NYSE:KO opened at $63.53 on Monday. Coca-Cola has a one year low of $57.47 and a one year high of $73.53. The company has a market cap of $273.67 billion, a PE ratio of 26.25, a PEG ratio of 3.87 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The firm has a 50-day moving average of $66.75 and a 200-day moving average of $66.61.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter last year, the company earned $0.74 earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. As a group, equities research analysts expect that Coca-Cola will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO James Quincey sold 100,000 shares of the company’s 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 sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KO. New Millennium Group LLC purchased a new stake in Coca-Cola in the second quarter valued at approximately $26,000. Quarry LP bought a new stake in shares of Coca-Cola during the 2nd quarter worth $27,000. Hara Capital LLC purchased a new position in Coca-Cola in the third quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Coca-Cola in the third quarter valued at $36,000. Finally, Mount Lucas Management LP purchased a new stake in Coca-Cola during the second quarter valued at about $38,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

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.