Coca-Cola (NYSE:KO) Stock Price Down 0.5% – Here’s What Happened

The Coca-Cola Company (NYSE:KO) shares dropped 0.5% on Friday . The company traded as low as $63.42 and last traded at $63.74. Approximately 2,422,699 shares were traded during trading, a decline of 85% from the average daily volume of 15,660,497 shares. The stock had previously closed at $64.05.

Analyst Ratings Changes

KO has been the subject of several recent analyst reports. Piper Sandler lowered their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Truist Financial lifted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Morgan Stanley reduced their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the company from $69.00 to $75.00 in a report on Thursday. Finally, Wells Fargo & Company reduced their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $72.13.

Coca-Cola Trading Down 0.6 %

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 stock has a market cap of $274.26 billion, a P/E ratio of 26.29, a PEG ratio of 3.52 and a beta of 0.61. The firm’s 50-day simple moving average is $62.65 and its 200 day simple moving average is $66.37.

Insiders Place Their Bets

In other 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 value of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.97% of the stock is owned by insiders.

Institutional Trading of Coca-Cola

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its position in shares of Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after acquiring an additional 11,206,995 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Coca-Cola by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after acquiring an additional 4,013,996 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Coca-Cola in the 3rd quarter valued at approximately $269,382,000. Geode Capital Management LLC increased its stake in shares of Coca-Cola by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after purchasing an additional 2,966,964 shares during the last quarter. Finally, Pathway Financial Advisers LLC increased its stake in shares of Coca-Cola by 7,006.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock worth $178,104,000 after purchasing an additional 2,443,612 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

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.