Coca-Cola (NYSE:KO) Shares Down 0.9% – Time to Sell?

Shares of The Coca-Cola Company (NYSE:KO) traded down 0.9% on Monday . The company traded as low as $68.76 and last traded at $68.85. 20,769,370 shares traded hands during trading, an increase of 38% from the average session volume of 15,089,333 shares. The stock had previously closed at $69.50.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KO. Piper Sandler reduced their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday, January 8th. UBS Group raised their price objective on shares of Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Barclays upped their target price on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.82.

Coca-Cola Trading Up 1.5 %

The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The company has a 50-day simple moving average of $63.27 and a 200-day simple moving average of $66.36. The stock has a market cap of $302.00 billion, a P/E ratio of 28.38, a P/E/G ratio of 3.73 and a beta of 0.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Coca-Cola

Hedge funds and other institutional investors have recently modified their holdings of the company. Crowley Wealth Management Inc. acquired a new position in Coca-Cola in the 4th quarter worth about $27,000. Mainstream Capital Management LLC bought a new position in Coca-Cola during the fourth quarter valued at about $31,000. Hara Capital LLC purchased a new position in shares of Coca-Cola during the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Coca-Cola in the 3rd quarter worth approximately $36,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola during the fourth quarter valued at about $37,000. Institutional investors and hedge funds 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.