JPMorgan Chase & Co. Issues Pessimistic Forecast for Coca-Cola (NYSE:KO) Stock Price

Coca-Cola (NYSE:KO) had its price objective reduced by analysts at JPMorgan Chase & Co. from $75.00 to $70.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 10.53% from the company’s previous close.

KO has been the subject of several other reports. Barclays lowered their target price on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Wells Fargo & Company dropped their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Truist Financial boosted their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Piper Sandler cut their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $71.93.

Coca-Cola Trading Down 0.8 %

KO stock traded down $0.54 during trading on Tuesday, reaching $63.33. 1,669,685 shares of the stock were exchanged, compared to its average volume of 16,080,114. The firm has a market capitalization of $272.83 billion, a price-to-earnings ratio of 26.17, a P/E/G ratio of 3.38 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The business has a 50 day moving average price of $62.62 and a 200-day moving average price of $66.41. Coca-Cola has a 1 year low of $57.93 and a 1 year high of $73.53.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Keystone Financial Group Inc. acquired a new stake in shares of Coca-Cola during the 4th quarter valued at $394,000. Ameliora Wealth Management Ltd. acquired a new position in Coca-Cola in the 4th quarter valued at approximately $107,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Coca-Cola by 3.0% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 712,222 shares of the company’s stock worth $44,343,000 after acquiring an additional 20,763 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Coca-Cola by 1.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,959,522 shares of the company’s stock valued at $744,600,000 after buying an additional 166,199 shares during the last quarter. Finally, American Financial & Tax Strategies Inc. increased its stake in shares of Coca-Cola by 3.4% during the 4th quarter. American Financial & Tax Strategies Inc. now owns 6,477 shares of the company’s stock worth $403,000 after purchasing an additional 212 shares during the last quarter. 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.