Royal Bank of Canada Reaffirms “Outperform” Rating for Coca-Cola (NYSE:KO)

Royal Bank of Canada reissued their outperform rating on shares of Coca-Cola (NYSE:KO) in a report issued on Thursday morning,Benzinga reports. They currently have a $69.00 target price on the stock.

A number of other brokerages have also commented on KO. Truist Financial boosted their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Barclays cut their target price on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Wells Fargo & Company dropped their target price 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. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.19.

Coca-Cola Stock Up 0.4 %

Shares of NYSE KO opened at $63.37 on Thursday. Coca-Cola has a 12-month low of $57.93 and a 12-month high of $73.53. 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 firm has a market cap of $272.96 billion, a PE ratio of 26.18, a P/E/G ratio of 3.56 and a beta of 0.61. The company’s fifty day simple moving average is $62.56 and its 200 day simple moving average is $66.34.

Institutional Trading of Coca-Cola

A number of hedge funds have recently made changes to their positions in KO. Investment Advisory Group LLC raised its holdings in shares of Coca-Cola by 4.5% during the 3rd quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock valued at $243,000 after buying an additional 146 shares in the last quarter. CCG Wealth Management LLC lifted its holdings in shares of Coca-Cola by 4.3% in the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after acquiring an additional 149 shares during the last quarter. Investment Partners Asset Management Inc. boosted its stake in shares of Coca-Cola by 2.2% in the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after purchasing an additional 150 shares in the last quarter. Blossom Wealth Management grew its holdings in shares of Coca-Cola by 3.3% during the 3rd quarter. Blossom Wealth Management now owns 4,890 shares of the company’s stock valued at $351,000 after purchasing an additional 155 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL lifted its stake in Coca-Cola by 1.6% in the third quarter. Strategic Investment Solutions Inc. IL now owns 9,993 shares of the company’s stock worth $718,000 after purchasing an additional 159 shares during the last quarter. 70.26% of the stock is owned by 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.