CocaCola (NYSE:KO) Trading Up 1.3% – Should You Buy?

CocaCola Company (The) (NYSE:KO)’s share price was up 1.3% during mid-day trading on Tuesday . The company traded as high as $73.56 and last traded at $73.5250. Approximately 13,128,063 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 18,106,971 shares. The stock had previously closed at $72.56.

Wall Street Analysts Forecast Growth

KO has been the subject of a number of recent research reports. Wells Fargo & Company upped their price target on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. Bank of America lifted their price target on shares of CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Piper Sandler increased their price objective on shares of CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Finally, UBS Group restated a “buy” rating on shares of CocaCola in a report on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. According to data from MarketBeat, CocaCola presently has an average rating of “Buy” and a consensus target price of $79.08.

CocaCola Price Performance

The company’s 50-day moving average price is $70.70 and its two-hundred day moving average price is $69.38. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. The company has a market capitalization of $316.28 billion, a P/E ratio of 24.35, a price-to-earnings-growth ratio of 3.75 and a beta of 0.39.

Insiders Place Their Bets

In related news, EVP Manuel Arroyo sold 139,689 shares of CocaCola stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $70.80, for a total transaction of $9,889,981.20. Following the completion of the sale, the executive vice president directly owned 58,067 shares of the company’s stock, valued at approximately $4,111,143.60. This trade represents a 70.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Henrique Braun sold 40,390 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $70.93, for a total value of $2,864,862.70. Following the completion of the sale, the chief operating officer owned 62,621 shares of the company’s stock, valued at $4,441,707.53. This trade represents a 39.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 211,704 shares of company stock worth $15,005,595 over the last three months. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On CocaCola

Hedge funds and other institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its stake in CocaCola by 5,142.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after purchasing an additional 360 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of CocaCola during the second quarter worth approximately $26,000. Marquette Asset Management LLC acquired a new stake in shares of CocaCola in the third quarter valued at approximately $27,000. Cloud Capital Management LLC bought a new stake in shares of CocaCola in the third quarter valued at approximately $27,000. Finally, Daytona Street Capital LLC acquired a new stake in CocaCola during the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

CocaCola Company Profile

The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.