Coca-Cola (NYSE:KO) PT Raised to $70.00 at Bank of America

Coca-Cola (NYSE:KO) had its price objective raised by investment analysts at Bank of America from $68.00 to $70.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price target indicates a potential upside of 11.77% from the company’s previous close.

KO has been the topic of a number of other research reports. Argus raised their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Evercore ISI raised their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Morgan Stanley raised their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Finally, Barclays raised their price objective on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.00.

Coca-Cola Stock Down 0.1 %

Shares of Coca-Cola stock traded down $0.06 during trading hours on Wednesday, hitting $62.63. 5,075,123 shares of the company’s stock traded hands, compared to its average volume of 12,941,734. The stock has a 50 day simple moving average of $62.97 and a 200-day simple moving average of $61.02. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The company has a market cap of $269.81 billion, a PE ratio of 25.05, a PEG ratio of 3.56 and a beta of 0.59. Coca-Cola has a twelve month low of $51.55 and a twelve month high of $64.36.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. The company had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. Equities research analysts anticipate that Coca-Cola will post 2.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of Coca-Cola stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the sale, the executive vice president now owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Beatriz R. Perez sold 57,298 shares of Coca-Cola stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total value of $3,551,903.02. Following the completion of the sale, the executive vice president now owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nikolaos Koumettis sold 80,891 shares of Coca-Cola stock in a transaction on Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the completion of the sale, the insider now directly owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The disclosure for this sale can be found here. Insiders sold 822,284 shares of company stock valued at $567,718,040 in the last quarter. Company insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Coca-Cola

Institutional investors and hedge funds have recently modified their holdings of the business. Tidemark LLC acquired a new stake in shares of Coca-Cola in the 4th quarter valued at $26,000. ESL Trust Services LLC bought a new position in Coca-Cola in the 1st quarter worth $28,000. Redmont Wealth Advisors LLC bought a new position in Coca-Cola in the 1st quarter worth $28,000. Private Wealth Management Group LLC bought a new position in Coca-Cola in the 4th quarter worth $27,000. Finally, ZRC Wealth Management LLC raised its holdings in Coca-Cola by 213.3% in the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after acquiring an additional 320 shares during the period. 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.