JPMorgan Chase & Co. Cuts Coca-Cola (NYSE:KO) Price Target to $70.00

Coca-Cola (NYSE:KO) had its target price lowered by stock analysts at JPMorgan Chase & Co. from $75.00 to $70.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 11.37% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Piper Sandler reduced their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company decreased their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. 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 research report on Thursday, October 24th. Truist Financial boosted their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, UBS Group cut their price target on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and an average price target of $71.93.

Coca-Cola Stock Up 0.8 %

Shares of Coca-Cola stock opened at $62.86 on Tuesday. The firm has a market cap of $270.77 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 3.38 and a beta of 0.61. The stock’s 50-day moving average is $62.65 and its 200 day moving average is $66.41. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. Coca-Cola has a one year low of $57.93 and a one year high of $73.53.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Coca-Cola

Hedge funds have recently made changes to their positions in the business. Harvest Portfolios Group Inc. bought a new stake in Coca-Cola in the third quarter worth about $18,383,000. Balentine LLC raised its holdings in shares of Coca-Cola by 92.4% in the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after purchasing an additional 13,685 shares during the period. Sheaff Brock Investment Advisors LLC lifted its stake 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 last quarter. Fiduciary Alliance LLC grew its holdings in Coca-Cola by 87.7% during the fourth 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 period. Finally, CIBC Asset Management Inc increased its position in Coca-Cola by 5.8% in the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock worth $61,122,000 after buying an additional 46,541 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Company Profile

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.