Coca-Cola (NYSE:KO) Trading Up 0.1% – What’s Next?

The Coca-Cola Company (NYSE:KO) shares shot up 0.1% on Thursday . The stock traded as high as $63.74 and last traded at $63.17. 2,749,318 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 15,182,889 shares. The stock had previously closed at $63.12.

Analyst Upgrades and Downgrades

KO has been the subject of several recent research reports. TD Cowen raised shares of 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. Morgan Stanley decreased their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Barclays cut their price target on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $69.00 price target on shares of Coca-Cola in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.19.

Coca-Cola Trading Down 0.0 %

The firm’s 50-day moving average price is $62.56 and its 200-day moving average price is $66.34. 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 cap of $271.85 billion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61.

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of the company’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 transaction of $6,403,000.00. Following the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.97% of the company’s stock.

Institutional Trading of Coca-Cola

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hara Capital LLC bought a new stake in Coca-Cola in the 3rd quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola in the 3rd quarter worth $36,000. Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola during the 4th quarter valued at about $37,000. MilWealth Group LLC bought a new stake in shares of Coca-Cola during the 4th quarter valued at about $40,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Coca-Cola during the 3rd quarter valued at about $43,000. 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.