Coca-Cola (NYSE:KO) Price Target Raised to $62.00
Coca-Cola (NYSE:KO – Get Rating) had its price target increased by equities researchers at Deutsche Bank Aktiengesellschaft from $59.00 to $62.00 in a research report issued on Tuesday, The Fly reports…
From the Equity Insider archive. This article dates from Dec 6, 2022 and is preserved as first published.
Coca-Cola (NYSE:KO – Get Rating) had its price target increased by equities researchers at Deutsche Bank Aktiengesellschaft from $59.00 to $62.00 in a research report issued on Tuesday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price objective points to a potential downside of 2.32% from the stock’s current price.
Several other research analysts have also weighed in on the company. Wells Fargo & Company lowered their price objective on Coca-Cola from $72.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, October 3rd. Credit Suisse Group set a $64.00 price objective on Coca-Cola in a research report on Wednesday, October 26th. StockNews.com initiated coverage on Coca-Cola in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. Evercore ISI reduced their target price on Coca-Cola to $68.00 in a research note on Thursday, October 20th. Finally, UBS Group raised their target price on Coca-Cola from $63.00 to $68.00 in a research note on Wednesday, October 26th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.65.
Coca-Cola Stock Down 1.4 %
Shares of NYSE:KO opened at $63.47 on Tuesday. The firm has a market cap of $274.48 billion, a P/E ratio of 27.72, a P/E/G ratio of 4.26 and a beta of 0.59. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.45. Coca-Cola has a 12-month low of $54.01 and a 12-month high of $67.20. The business has a fifty day simple moving average of $58.97 and a 200 day simple moving average of $61.21.
Coca-Cola (NYSE:KO – Get Rating) last announced its earnings results on Tuesday, October 25th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.05. The business had revenue of $11.06 billion during the quarter, compared to analyst estimates of $10.60 billion. Coca-Cola had a return on equity of 42.75% and a net margin of 23.44%. Analysts predict that Coca-Cola will post 2.48 earnings per share for the current year.
Coca-Cola (NYSE:KO – Get Rating) last announced its earnings results on Tuesday, October 25th.
Insider Buying and Selling at Coca-Cola
In other Coca-Cola news, SVP Nancy Quan sold 13,746 shares of Coca-Cola stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $61.12, for a total transaction of $840,155.52. Following the transaction, the senior vice president now owns 184,710 shares of the company’s stock, valued at approximately $11,289,475.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Coca-Cola news, insider Mark Randazza sold 42,068 shares of Coca-Cola stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $60.86, for a total transaction of $2,560,258.48. Following the transaction, the insider now owns 40,146 shares of the company’s stock, valued at approximately $2,443,285.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Nancy Quan sold 13,746 shares of Coca-Cola stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $61.12, for a total transaction of $840,155.52. Following the transaction, the senior vice president now directly owns 184,710 shares in the company, valued at approximately $11,289,475.20. The disclosure for this sale can be found here. Company insiders own 0.98% of the company’s stock.
Institutional Investors Weigh In On Coca-Cola
A number of hedge funds have recently modified their holdings of KO. Fairfield Bush & CO. bought a new stake in shares of Coca-Cola in the 1st quarter worth approximately $77,000. Great Lakes Advisors LLC raised its holdings in Coca-Cola by 6.2% during the 1st quarter. Great Lakes Advisors LLC now owns 19,444 shares of the company’s stock valued at $1,206,000 after acquiring an additional 1,142 shares during the period. OPSEU Pension Plan Trust Fund raised its holdings in Coca-Cola by 2.3% during the 1st quarter. OPSEU Pension Plan Trust Fund now owns 20,803 shares of the company’s stock valued at $1,300,000 after acquiring an additional 468 shares during the period. River Wealth Advisors LLC raised its holdings in Coca-Cola by 3.9% during the 1st quarter. River Wealth Advisors LLC now owns 10,507 shares of the company’s stock valued at $651,000 after acquiring an additional 394 shares during the period. Finally, GW&K Investment Management LLC raised its holdings in Coca-Cola by 7.0% during the 1st quarter. GW&K Investment Management LLC now owns 22,181 shares of the company’s stock valued at $1,375,000 after acquiring an additional 1,446 shares during the period. Institutional investors own 68.93% 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; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
