Coca-Cola (NYSE:KO) PT Raised to $73.00 at Wells Fargo & Company

Coca-Cola (NYSE:KO) had its target price raised by research analysts at Wells Fargo & Company from $70.00 to $73.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 11.83% from the company’s current price.

Several other equities research analysts have also weighed in on the company. JPMorgan Chase & Co. increased their target price on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Evercore ISI lifted their price objective on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Bank of America boosted their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Finally, Morgan Stanley boosted their price objective on Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.23.

Coca-Cola Stock Performance

Shares of NYSE:KO traded up $0.32 during trading on Wednesday, reaching $65.28. 3,962,534 shares of the company’s stock traded hands, compared to its average volume of 12,799,254. The stock has a market capitalization of $281.22 billion, a P/E ratio of 26.08, a price-to-earnings-growth ratio of 3.67 and a beta of 0.59. Coca-Cola has a 12 month low of $51.55 and a 12 month high of $66.04. The company has a 50 day moving average of $63.29 and a 200-day moving average of $61.38. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.86.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. The company had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 earnings per share. On average, equities analysts expect that Coca-Cola will post 2.82 EPS for the current year.

Insider Buying and Selling at Coca-Cola

In other news, EVP Beatriz R. Perez sold 57,298 shares of Coca-Cola stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $61.99, for a total value of $3,551,903.02. Following the transaction, the executive vice president now owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the sale, the insider now directly owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Beatriz R. Perez sold 57,298 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total value of $3,551,903.02. Following the transaction, the executive vice president now directly owns 167,107 shares in the company, valued at $10,358,962.93. The disclosure for this sale can be found here. In the last three months, insiders sold 841,588 shares of company stock valued at $568,972,027. 0.97% of the stock is owned by insiders.

Hedge Funds Weigh In On Coca-Cola

Several institutional investors and hedge funds have recently bought and sold shares of the business. Patrick M Sweeney & Associates Inc. purchased a new position in Coca-Cola during the fourth quarter valued at approximately $410,000. Beacon Pointe Advisors LLC raised its holdings in shares of Coca-Cola by 24.7% during the fourth quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock worth $26,549,000 after acquiring an additional 89,139 shares in the last quarter. Birchcreek Wealth Management LLC boosted its position in Coca-Cola by 12.6% during the fourth quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock valued at $267,000 after purchasing an additional 507 shares during the last quarter. Smart Money Group LLC grew its stake in Coca-Cola by 21.6% in the fourth quarter. Smart Money Group LLC now owns 4,932 shares of the company’s stock valued at $291,000 after purchasing an additional 877 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its position in Coca-Cola by 13.4% in the 4th quarter. Hexagon Capital Partners LLC now owns 12,621 shares of the company’s stock worth $744,000 after purchasing an additional 1,495 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

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.