Coca-Cola (NYSE:KO) Stock Rating Upgraded by Jefferies Financial Group

Jefferies Financial Group upgraded shares of Coca-Cola (NYSE:KO) from a hold rating to a buy rating in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. Jefferies Financial Group currently has $75.00 price objective on the stock, up from their previous price objective of $69.00.

Several other research firms also recently weighed in on KO. JPMorgan Chase & Co. dropped their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday. Piper Sandler lowered their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Morgan Stanley reduced their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.13.

Coca-Cola Trading Up 1.9 %

KO stock opened at $64.05 on Thursday. The business’s 50-day moving average is $62.65 and its 200 day moving average is $66.38. Coca-Cola has a 12-month low of $57.93 and a 12-month high of $73.53. The stock has a market cap of $275.90 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 3.52 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of 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 can be accessed through this hyperlink. Corporate insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Coca-Cola

Large investors have recently made changes to their positions in the business. Quarry LP purchased a new stake in shares of Coca-Cola during the second quarter worth $27,000. Hara Capital LLC purchased a new stake in shares of Coca-Cola during the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Coca-Cola in the 3rd quarter valued at approximately $36,000. Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $37,000. Finally, MilWealth Group LLC acquired a new position in Coca-Cola in the fourth quarter worth approximately $40,000. 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.