Coca-Cola (NYSE:KO) Price Target Increased to $70.00 by Analysts at TD Cowen

Coca-Cola (NYSE:KO) had its target price upped by equities research analysts at TD Cowen from $65.00 to $70.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s target price points to a potential upside of 5.72% from the stock’s previous close.

A number of other research firms have also weighed in on KO. Bank of America boosted their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Citigroup increased their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday. StockNews.com downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Morgan Stanley upped their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Finally, Truist Financial increased their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $70.25.

Coca-Cola Price Performance

Shares of NYSE KO traded up $0.40 on Thursday, hitting $66.21. The company’s stock had a trading volume of 10,350,677 shares, compared to its average volume of 12,850,018. Coca-Cola has a 12-month low of $51.55 and a 12-month high of $66.89. The company has a market capitalization of $285.23 billion, a price-to-earnings ratio of 26.48, a price-to-earnings-growth ratio of 3.66 and a beta of 0.59. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.86. The stock has a 50 day moving average of $63.34 and a 200-day moving average of $61.41.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.49%. The company had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, research analysts predict that Coca-Cola will post 2.84 EPS for the current year.

Insider Buying and Selling

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the transaction, the insider now owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Nikolaos Koumettis sold 80,891 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the transaction, the insider now directly owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the sale, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The disclosure for this sale can be found here. Insiders have sold a total of 841,588 shares of company stock valued at $568,972,027 in the last quarter. Company insiders own 0.97% of the company’s stock.

Institutional Trading of Coca-Cola

A number of institutional investors have recently added to or reduced their stakes in the business. Tidemark LLC acquired a new stake in shares of Coca-Cola in the fourth quarter worth $26,000. Private Wealth Management Group LLC acquired a new stake in shares of Coca-Cola in the fourth quarter worth $27,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Coca-Cola in the first quarter worth $28,000. ESL Trust Services LLC acquired a new position in Coca-Cola during the 1st quarter valued at $28,000. Finally, Criterion Capital Advisors LLC acquired a new position in Coca-Cola during the 4th quarter valued at $30,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

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.