Coca-Cola (NYSE:KO) Upgraded by Jefferies Financial Group to Buy Rating

Coca-Cola (NYSE:KO) was upgraded by research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research note issued on Thursday,Finviz reports. The brokerage presently has a $75.00 target price on the stock, up from their prior target price of $69.00. Jefferies Financial Group’s price target would suggest a potential upside of 19.32% from the company’s previous close.

Several other analysts have also recently commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Truist Financial increased their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. UBS Group cut their price objective on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Morgan Stanley cut their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average price target of $72.13.

Coca-Cola Price Performance

KO opened at $62.86 on Thursday. Coca-Cola has a one year low of $57.93 and a one year high of $73.53. 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 company’s 50 day simple moving average is $62.65 and its 200-day simple moving average is $66.41. The stock has a market capitalization of $270.77 billion, a P/E ratio of 25.97, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.97% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Apella Capital LLC raised its stake in shares of Coca-Cola by 1.4% during the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock worth $748,000 after acquiring an additional 146 shares in the last quarter. Investment Advisory Group LLC boosted its holdings 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 acquiring an additional 146 shares in the last quarter. CCG Wealth Management LLC lifted its position in Coca-Cola by 4.3% during the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock valued at $260,000 after buying an additional 149 shares during the period. Investment Partners Asset Management Inc. raised its position in shares of Coca-Cola by 2.2% in 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 during the last quarter. Finally, Chapin Davis Inc. raised its position in shares of Coca-Cola by 1.0% in the 3rd quarter. Chapin Davis Inc. now owns 15,312 shares of the company’s stock worth $1,100,000 after purchasing an additional 153 shares during the last quarter. 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.