Coca-Cola (NYSE:KO) PT Lowered to $65.00 at JPMorgan Chase & Co.

Coca-Cola (NYSE:KO) had its price objective reduced by equities research analysts at JPMorgan Chase & Co. from $66.00 to $65.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 10.34% from the stock’s current price.

Several other analysts have also recently weighed in on KO. Barclays boosted their price target on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Citigroup boosted their price target on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.09.

Coca-Cola Stock Performance

Coca-Cola stock opened at $58.91 on Friday. Coca-Cola has a 12-month low of $51.55 and a 12-month high of $64.99. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29. The business’s 50-day moving average price is $59.92 and its two-hundred day moving average price is $58.53. The stock has a market cap of $253.97 billion, a PE ratio of 23.75, a P/E/G ratio of 3.32 and a beta of 0.59.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. The company had revenue of $10.80 billion for the quarter, compared to analysts’ expectations of $10.68 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 earnings per share. As a group, analysts expect that Coca-Cola will post 2.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Beatriz R. Perez sold 52,300 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total value of $3,138,000.00. Following the transaction, the executive vice president now directly owns 143,383 shares of the company’s stock, valued at $8,602,980. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Coca-Cola news, EVP Beatriz R. Perez sold 52,300 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total value of $3,138,000.00. Following the transaction, the executive vice president now directly owns 143,383 shares of the company’s stock, valued at $8,602,980. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at $26,968,753.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 375,407 shares of company stock valued at $22,795,742. 0.97% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Coca-Cola

A number of institutional investors have recently modified their holdings of KO. Moneta Group Investment Advisors LLC raised its position in shares of Coca-Cola by 103,297.9% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 57,734,303 shares of the company’s stock worth $3,672,479,000 after purchasing an additional 57,678,466 shares during the period. Norges Bank acquired a new position in shares of Coca-Cola during the fourth quarter worth approximately $2,808,056,000. Morgan Stanley raised its position in shares of Coca-Cola by 15.7% during the fourth quarter. Morgan Stanley now owns 79,101,856 shares of the company’s stock worth $5,031,669,000 after purchasing an additional 10,722,435 shares during the period. Barclays PLC raised its position in shares of Coca-Cola by 164.7% during the second quarter. Barclays PLC now owns 14,430,093 shares of the company’s stock worth $868,981,000 after purchasing an additional 8,979,379 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Coca-Cola by 27.3% during the fourth quarter. Legal & General Group Plc now owns 37,523,659 shares of the company’s stock worth $2,211,268,000 after purchasing an additional 8,050,499 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

About Coca-Cola

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.