JPMorgan Chase & Co. Issues Pessimistic Forecast for Coca-Cola (NYSE:KO) Stock Price

Coca-Cola (NYSE:KOGet Free Report) had its target price dropped by equities research analysts at JPMorgan Chase & Co. from $75.00 to $70.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 11.37% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. UBS Group dropped their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, January 16th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Wednesday, January 8th. Truist Financial raised their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Morgan Stanley dropped their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Piper Sandler reduced their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Two investment 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $71.93.

Read Our Latest Stock Analysis on Coca-Cola

Coca-Cola Price Performance

Coca-Cola stock opened at $62.86 on Tuesday. The company has a market capitalization of $270.77 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 3.38 and a beta of 0.61. The stock’s 50 day moving average is $62.65 and its 200-day moving average is $66.41. The company has a current ratio of 1.06, a quick ratio of 0.90 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.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the company’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 transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Coca-Cola

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP bought a new position in Coca-Cola during the 2nd quarter worth $27,000. Hara Capital LLC bought a new position in shares of Coca-Cola during the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Coca-Cola during the third quarter worth about $36,000. Retirement Wealth Solutions LLC acquired a new position in shares of Coca-Cola in the fourth quarter worth approximately $37,000. Finally, MilWealth Group LLC acquired a new stake in Coca-Cola during the 4th quarter valued at approximately $40,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Coca-Cola (NYSE:KO)

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