The Coca-Cola Company (NYSE:KO) Receives Average Rating of “Buy” from Brokerages

The Coca-Cola Company (NYSE:KO) has received a consensus recommendation of “Buy” from the seventeen ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $72.07.

KO has been the subject of several recent research reports. Barclays cut their target price on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Wells Fargo & Company decreased their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Morgan Stanley dropped their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. UBS Group reduced their price target on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Truist Financial raised their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th.

Coca-Cola Trading Up 0.7 %

Shares of NYSE:KO opened at $61.98 on Monday. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. Coca-Cola has a 12-month low of $57.93 and a 12-month high of $73.53. The business has a 50 day moving average of $62.62 and a two-hundred day moving average of $66.39. The company has a market capitalization of $267.01 billion, a PE ratio of 25.61, a PEG ratio of 3.38 and a beta of 0.61.

Insider Transactions at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm’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 value of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Coca-Cola

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Harvest Portfolios Group Inc. acquired a new stake in shares of Coca-Cola during the 3rd quarter worth approximately $18,383,000. Balentine LLC increased its stake in Coca-Cola by 92.4% during the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after acquiring an additional 13,685 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its position in Coca-Cola by 104.9% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock valued at $8,351,000 after purchasing an additional 59,503 shares during the period. Fiduciary Alliance LLC lifted its stake in shares of Coca-Cola by 87.7% in the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock valued at $1,132,000 after purchasing an additional 8,499 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of Coca-Cola by 5.8% during the 3rd quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock worth $61,122,000 after purchasing an additional 46,541 shares during the period. Institutional investors and hedge funds 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.