Coca-Cola (NYSE:KO – Free Report) had its target price reduced by JPMorgan Chase & Co. from $75.00 to $70.00 in a research report released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.
KO has been the subject of a number of other reports. Barclays cut 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. Truist Financial increased their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lowered 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 note on Tuesday, January 7th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Wednesday, January 8th. Finally, Morgan Stanley lowered their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $71.93.
Get Our Latest Stock Report on KO
Coca-Cola Stock Down 2.4 %
Insider Buying and Selling at Coca-Cola
In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.97% of the stock is owned by insiders.
Institutional Investors Weigh In On Coca-Cola
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP purchased a new stake in Coca-Cola in the 2nd quarter worth approximately $27,000. EP Wealth Advisors LLC boosted its holdings in shares of Coca-Cola by 2.1% during the second quarter. EP Wealth Advisors LLC now owns 98,187 shares of the company’s stock worth $6,250,000 after purchasing an additional 2,032 shares during the last quarter. Pathway Financial Advisers LLC grew its position in shares of Coca-Cola by 1.2% in the second quarter. Pathway Financial Advisers LLC now owns 34,875 shares of the company’s stock valued at $2,216,000 after purchasing an additional 416 shares during the period. Truist Financial Corp increased its stake in Coca-Cola by 1.1% in the second quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock valued at $1,041,479,000 after purchasing an additional 177,241 shares during the last quarter. Finally, Advisory Alpha LLC lifted its position in Coca-Cola by 6.0% during the second quarter. Advisory Alpha LLC now owns 14,101 shares of the company’s stock worth $898,000 after buying an additional 804 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.
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.
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