Piper Sandler Cuts Coca-Cola (NYSE:KO) Price Target to $73.00

Coca-Cola (NYSE:KO) had its price objective cut by Piper Sandler from $74.00 to $73.00 in a report released on Thursday morning, Marketbeat reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently issued reports on the stock. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Morgan Stanley decreased their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Barclays dropped their price objective on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Truist Financial raised their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $72.07.

Coca-Cola Stock Up 0.7 %

Shares of Coca-Cola stock opened at $61.98 on Thursday. 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 1-year low of $57.93 and a 1-year high of $73.53. The business’s fifty day moving average price is $62.62 and its two-hundred day moving average price is $66.36. The company has a market capitalization of $267.01 billion, a P/E ratio of 25.61, a PEG ratio of 3.38 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. The business had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.74 earnings per share. As a group, research analysts forecast that Coca-Cola will post 2.85 EPS for the current year.

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of the company’s 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 transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Coca-Cola

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP purchased a new position in Coca-Cola during the second quarter valued at approximately $27,000. Hara Capital LLC acquired a new stake in shares of Coca-Cola during the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola during the 3rd quarter valued at $36,000. Retirement Wealth Solutions LLC acquired a new position in shares of Coca-Cola in the fourth quarter worth $37,000. Finally, MilWealth Group LLC purchased a new stake in shares of Coca-Cola during the fourth quarter worth $40,000. Hedge funds and other 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.