Truist Financial Increases Coca-Cola (NYSE:KO) Price Target to $80.00

Coca-Cola (NYSE:KO) had its price target hoisted by research analysts at Truist Financial from $70.00 to $80.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 14.48% from the stock’s previous close.

A number of other research firms also recently commented on KO. TD Cowen boosted their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Bank of America lifted their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Morgan Stanley lifted their target price on shares of Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. Finally, Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Coca-Cola Stock Down 1.0 %

KO stock opened at $69.88 on Wednesday. The company has a market cap of $301.04 billion, a P/E ratio of 27.95, a P/E/G ratio of 3.92 and a beta of 0.60. Coca-Cola has a 52 week low of $53.86 and a 52 week high of $73.53. The company’s 50-day moving average price is $70.67 and its 200 day moving average price is $65.65. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The firm had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.78 earnings per share. On average, research analysts expect that Coca-Cola will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 356,792 shares of company stock valued at $24,728,364 over the last 90 days. Insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Coca-Cola

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its stake in Coca-Cola by 21.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after buying an additional 8,733,326 shares during the period. Legal & General Group Plc grew its stake in Coca-Cola by 2.9% during the second quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock worth $2,463,373,000 after buying an additional 1,084,475 shares during the period. Truist Financial Corp grew its stake in Coca-Cola by 1.1% during the second quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock worth $1,041,479,000 after buying an additional 177,241 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Coca-Cola by 30.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock worth $776,924,000 after buying an additional 2,964,850 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in Coca-Cola by 15.7% during the first quarter. Canada Pension Plan Investment Board now owns 10,433,875 shares of the company’s stock worth $638,344,000 after buying an additional 1,417,930 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

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.