CocaCola (NYSE:KO) Price Target Raised to $80.00

CocaCola (NYSE:KO) had its price target hoisted by analysts at Bank of America from $78.00 to $80.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price suggests a potential upside of 13.00% from the company’s current price.

A number of other brokerages have also recently commented on KO. BNP Paribas reiterated an “outperform” rating and issued a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. Cowen restated a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. raised their price objective on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the company an “outperform” rating in a research note on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $78.43.

CocaCola Price Performance

KO stock traded up $1.74 during mid-day trading on Friday, reaching $70.80. 7,228,662 shares of the company’s stock were exchanged, compared to its average volume of 16,703,111. CocaCola has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a market cap of $304.53 billion, a price-to-earnings ratio of 23.42, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. 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 stock’s 50 day moving average is $67.72 and its 200 day moving average is $69.58.

CocaCola (NYSE:KO) last issued its quarterly earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The company had revenue of $11.40 billion during the quarter. On average, research analysts expect that CocaCola will post 2.96 EPS for the current year.

Insider Activity

In other CocaCola news, Director Max R. Levchin bought 7,206 shares of the company’s stock in a transaction on Friday, October 24th. The stock was bought at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the transaction, the director owned 14,267 shares of the company’s stock, valued at approximately $996,835.29. The trade was a 102.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Monica Howard Douglas sold 13,548 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $69.93, for a total value of $947,411.64. Following the transaction, the executive vice president directly owned 37,725 shares in the company, valued at $2,638,109.25. This trade represents a 26.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in KO. New Republic Capital LLC raised its position in shares of CocaCola by 1.6% in the first quarter. New Republic Capital LLC now owns 8,662 shares of the company’s stock valued at $625,000 after purchasing an additional 139 shares during the period. Alteri Wealth LLC boosted its holdings in shares of CocaCola by 2.1% during the 1st quarter. Alteri Wealth LLC now owns 6,874 shares of the company’s stock worth $492,000 after buying an additional 140 shares during the period. Requisite Capital Management LLC grew its stake in CocaCola by 2.8% in the 2nd quarter. Requisite Capital Management LLC now owns 5,285 shares of the company’s stock valued at $377,000 after buying an additional 142 shares during the last quarter. MTM Investment Management LLC raised its holdings in CocaCola by 0.3% in the 1st quarter. MTM Investment Management LLC now owns 50,612 shares of the company’s stock valued at $3,637,000 after acquiring an additional 144 shares during the period. Finally, SNS Financial Group LLC lifted its position in CocaCola by 2.4% during the first quarter. SNS Financial Group LLC now owns 6,315 shares of the company’s stock worth $455,000 after acquiring an additional 148 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

About CocaCola

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.