Coca-Cola (NYSE:KO) Price Target Raised to $74.00 at Barclays

Coca-Cola (NYSE:KO) had its price target raised by equities researchers at Barclays from $70.00 to $74.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 6.87% from the stock’s previous close.

KO has been the topic of several other research reports. JPMorgan Chase & Co. boosted their target price on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Truist Financial upped their price target on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Citigroup boosted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company boosted their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Five research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $71.33.

Coca-Cola Stock Performance

Shares of NYSE KO traded down $0.01 during midday trading on Friday, hitting $69.24. 1,786,588 shares of the company’s stock were exchanged, compared to its average volume of 13,181,371. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The stock’s 50 day moving average price is $70.51 and its 200-day moving average price is $65.33. The firm has a market cap of $298.42 billion, a P/E ratio of 28.04, a PEG ratio of 3.92 and a beta of 0.60. Coca-Cola has a twelve month low of $52.43 and a twelve month high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.03. The business had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 earnings per share. Equities research analysts anticipate that Coca-Cola will post 2.85 EPS for the current year.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 376,096 shares of company stock valued at $25,982,352. 0.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coca-Cola

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sunflower Bank N.A. increased its stake in Coca-Cola by 3.1% in the 3rd quarter. Sunflower Bank N.A. now owns 27,099 shares of the company’s stock valued at $1,947,000 after buying an additional 804 shares during the last quarter. Crestmont Private Wealth LLC bought a new position in shares of Coca-Cola in the 3rd quarter valued at about $216,000. CHICAGO TRUST Co NA grew its position in shares of Coca-Cola by 3.1% in the 3rd quarter. CHICAGO TRUST Co NA now owns 30,886 shares of the company’s stock valued at $2,219,000 after acquiring an additional 928 shares during the period. Carnegie Investment Counsel grew its position in shares of Coca-Cola by 0.9% in the 3rd quarter. Carnegie Investment Counsel now owns 82,488 shares of the company’s stock valued at $5,927,000 after acquiring an additional 761 shares during the period. Finally, Retirement Planning Group LLC bought a new position in shares of Coca-Cola in the 3rd quarter valued at about $861,000. 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.