Coca-Cola (NYSE:KO) Given New $75.00 Price Target at Wells Fargo & Company

Coca-Cola (NYSE:KO) had its price objective cut by Wells Fargo & Company from $78.00 to $75.00 in a report released on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts also recently commented on KO. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Morgan Stanley dropped their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Truist Financial raised their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Barclays reduced their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.14.

Coca-Cola Stock Performance

Shares of KO opened at $63.67 on Monday. The firm has a market capitalization of $274.26 billion, a PE ratio of 26.31, a P/E/G ratio of 3.89 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The firm has a 50-day moving average price of $67.07 and a 200 day moving average price of $66.61. Coca-Cola has a 52-week low of $57.47 and a 52-week high of $73.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the business earned $0.74 earnings per share. On average, sell-side analysts anticipate that Coca-Cola will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.05%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is currently 80.17%.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm’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 owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents 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 the SEC website. Company insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of KO. New Millennium Group LLC bought a new stake in Coca-Cola in the second quarter valued at about $26,000. Quarry LP acquired a new stake in shares of Coca-Cola during the 2nd quarter worth about $27,000. Hara Capital LLC bought a new position in Coca-Cola during the 3rd quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Coca-Cola in the third quarter valued at about $36,000. Finally, Mount Lucas Management LP bought a new stake in Coca-Cola during the second quarter worth about $38,000. 70.26% of the stock is owned by institutional investors.

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.