Piper Sandler Cuts Coca-Cola (NYSE:KO) Price Target to $73.00

Coca-Cola (NYSE:KO) had its target price decreased by Piper Sandler from $74.00 to $73.00 in a research note published on Thursday morning, Marketbeat Ratings reports. Piper Sandler currently has an overweight rating on the stock.

A number of other research analysts also recently weighed in on the company. Wells Fargo & Company cut their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Barclays reduced their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Truist Financial boosted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $72.07.

Coca-Cola Stock Performance

Shares of KO opened at $61.98 on Thursday. The firm has a market cap of $267.01 billion, a price-to-earnings ratio of 25.61, a price-to-earnings-growth ratio of 3.38 and a beta of 0.61. The company’s fifty day moving average is $62.62 and its 200-day moving average is $66.36. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. Coca-Cola has a 12 month low of $57.93 and a 12 month high of $73.53.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the prior year, the business posted $0.74 earnings per share. The business’s quarterly revenue was down .8% on a year-over-year basis. Equities analysts expect that Coca-Cola will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fred Alger Management LLC raised its stake in Coca-Cola by 7.5% during the second quarter. Fred Alger Management LLC now owns 102,078 shares of the company’s stock worth $6,497,000 after acquiring an additional 7,160 shares in the last quarter. Drucker Wealth 3.0 LLC bought a new position in Coca-Cola during the 2nd quarter valued at about $3,368,000. Delta Investment Management LLC lifted its holdings in Coca-Cola by 4.1% during the 2nd quarter. Delta Investment Management LLC now owns 7,114 shares of the company’s stock valued at $453,000 after purchasing an additional 283 shares during the last quarter. Daymark Wealth Partners LLC grew its stake in Coca-Cola by 5.6% during the second quarter. Daymark Wealth Partners LLC now owns 224,335 shares of the company’s stock worth $14,279,000 after buying an additional 11,904 shares during the last quarter. Finally, MBB Public Markets I LLC increased its holdings in shares of Coca-Cola by 1,716.8% during the second quarter. MBB Public Markets I LLC now owns 290,784 shares of the company’s stock worth $18,508,000 after buying an additional 274,779 shares in the last quarter. Institutional investors 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.