Coca-Cola (NYSE:KO) Price Target Raised to $80.00 at Piper Sandler

Coca-Cola (NYSE:KO) had its price target lifted by investment analysts at Piper Sandler from $73.00 to $80.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 12.79% from the stock’s previous close.

A number of other research firms have also issued reports on KO. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price target on shares of Coca-Cola in a research note on Thursday, February 6th. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. JPMorgan Chase & Co. dropped 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 report on Tuesday, January 28th. Finally, DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.24.

Coca-Cola Price Performance

Shares of KO opened at $70.93 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The business’s fifty day moving average is $64.36 and its 200 day moving average is $66.50. The stock has a market cap of $305.06 billion, a P/E ratio of 28.72, a P/E/G ratio of 3.79 and a beta of 0.61. Coca-Cola has a 12-month low of $57.93 and a 12-month high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Sell-side analysts anticipate that Coca-Cola will post 2.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Coca-Cola

In related news, insider Nikolaos Koumettis sold 54,708 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the transaction, the insider now directly owns 246,909 shares of the company’s stock, valued at approximately $17,520,662.64. This represents a 18.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lisa Chang sold 13,445 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total value of $961,317.50. Following the sale, the executive vice president now directly owns 94,676 shares in the company, valued at $6,769,334. This trade represents a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 232,646 shares of company stock valued at $16,515,469 in the last three months. 0.97% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Coca-Cola

Large investors have recently bought and sold shares of the business. Peachtree Investment Partners LLC lifted its holdings in shares of Coca-Cola by 1.4% in the 4th quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company’s stock valued at $697,000 after acquiring an additional 157 shares during the last quarter. Fort Sheridan Advisors LLC boosted its holdings in shares of Coca-Cola by 3.3% in the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock worth $311,000 after purchasing an additional 161 shares during the period. Excalibur Management Corp increased its position in shares of Coca-Cola by 0.6% during the 4th quarter. Excalibur Management Corp now owns 29,412 shares of the company’s stock valued at $1,831,000 after purchasing an additional 161 shares during the last quarter. Wells Trecaso Financial Group LLC raised its holdings in Coca-Cola by 4.8% during the 4th quarter. Wells Trecaso Financial Group LLC now owns 3,616 shares of the company’s stock valued at $225,000 after buying an additional 164 shares during the period. Finally, Atlas Brown Inc. lifted its position in Coca-Cola by 0.8% in the fourth quarter. Atlas Brown Inc. now owns 21,024 shares of the company’s stock worth $1,309,000 after buying an additional 166 shares during the last quarter. 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.