Barclays Increases Coca-Cola (NYSE:KO) Price Target to $69.00

Coca-Cola (NYSE:KO) had its price objective increased by research analysts at Barclays from $68.00 to $69.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 10.99% from the company’s current price.

Several other equities research analysts also recently commented on the company. Citigroup raised their target price on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. JPMorgan Chase & Co. upped their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday. UBS Group lifted their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Evercore ISI increased their target price on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.27.

Coca-Cola Trading Up 0.3 %

Shares of KO stock traded up $0.18 on Thursday, reaching $62.17. 11,628,675 shares of the stock were exchanged, compared to its average volume of 13,782,690. Coca-Cola has a 1-year low of $51.55 and a 1-year high of $64.25. The stock has a market cap of $268.03 billion, a P/E ratio of 24.87, a price-to-earnings-growth ratio of 3.54 and a beta of 0.57. The company has a quick ratio of 0.95, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The firm has a 50 day moving average of $60.24 and a two-hundred day moving average of $59.12.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The company had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the previous year, the firm earned $0.68 earnings per share. Coca-Cola’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, research analysts anticipate that Coca-Cola will post 2.81 EPS for the current year.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $26,968,753.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Coca-Cola news, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The disclosure for this sale can be found here. Insiders sold 323,107 shares of company stock valued at $19,657,742 in the last ninety days. Company insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Coca-Cola

Large investors have recently modified their holdings of the stock. ZRC Wealth Management LLC increased its holdings in shares of Coca-Cola by 213.3% in the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares during the period. Tidemark LLC bought a new position in Coca-Cola in the 4th quarter worth approximately $26,000. Private Wealth Management Group LLC acquired a new position in shares of Coca-Cola during the fourth quarter worth approximately $27,000. Redmont Wealth Advisors LLC bought a new stake in shares of Coca-Cola in the first quarter valued at approximately $28,000. Finally, Criterion Capital Advisors LLC bought a new position in Coca-Cola during the fourth quarter worth $30,000. 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.