Coca-Cola (NYSE:KO) Stock Price Down 0.3% – Here’s What Happened

The Coca-Cola Company (NYSE:KO) traded down 0.3% on Monday . The company traded as low as $62.43 and last traded at $63.31. 3,428,757 shares traded hands during trading, a decline of 78% from the average session volume of 15,538,104 shares. The stock had previously closed at $63.48.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Barclays cut their target price on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Wednesday, January 8th. UBS Group dropped their price target on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Morgan Stanley decreased their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Wells Fargo & Company reduced their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.13.

Coca-Cola Trading Up 0.7 %

The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $271.94 billion, a price-to-earnings ratio of 26.09, a P/E/G ratio of 3.56 and a beta of 0.61. The company has a 50-day moving average price of $62.59 and a 200-day moving average price of $66.36.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the business’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 completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.97% of the stock is owned by insiders.

Hedge Funds Weigh In On Coca-Cola

A number of hedge funds and other institutional investors have recently bought and sold shares of KO. Quarry LP bought a new stake in Coca-Cola in the second quarter valued at approximately $27,000. Hara Capital LLC bought a new stake in shares of Coca-Cola in the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola during the 3rd quarter worth $36,000. Retirement Wealth Solutions LLC bought a new position in Coca-Cola during the fourth quarter worth about $37,000. Finally, MilWealth Group LLC acquired a new position in Coca-Cola in the fourth quarter valued at about $40,000. 70.26% of the stock is owned by institutional investors.

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.