Coca-Cola (NYSE:KO) Given New $75.00 Price Target at Citigroup

Coca-Cola (NYSE:KO) had its price objective upped by investment analysts at Citigroup from $72.00 to $75.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 13.86% from the company’s current price.

A number of other equities analysts have also issued reports on the company. BNP Paribas began coverage on Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday. Barclays lifted their price objective on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Argus lifted their price objective on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Finally, Wells Fargo & Company lifted their price objective on Coca-Cola from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.21.

Coca-Cola Stock Performance

Shares of NYSE KO traded up $0.91 during midday trading on Wednesday, reaching $65.87. 7,076,022 shares of the company were exchanged, compared to its average volume of 12,823,995. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. Coca-Cola has a 1 year low of $51.55 and a 1 year high of $66.04. The stock has a fifty day simple moving average of $63.29 and a 200 day simple moving average of $61.38. The stock has a market cap of $283.77 billion, a P/E ratio of 26.31, a PEG ratio of 3.67 and a beta of 0.59.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. During the same quarter last year, the company posted $0.78 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. On average, research analysts forecast that Coca-Cola will post 2.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Monica Howard Douglas sold 8,874 shares of Coca-Cola stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $63.31, for a total transaction of $561,812.94. Following the completion of the transaction, the executive vice president now directly owns 33,638 shares in the company, valued at approximately $2,129,621.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Coca-Cola news, EVP Monica Howard Douglas sold 8,874 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $63.31, for a total value of $561,812.94. Following the completion of the transaction, the executive vice president now directly owns 33,638 shares in the company, valued at approximately $2,129,621.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Beatriz R. Perez sold 57,298 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the sale, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at $10,358,962.93. The disclosure for this sale can be found here. Insiders sold 841,588 shares of company stock worth $568,972,027 in the last ninety days. Insiders own 0.97% of the company’s stock.

Institutional Trading of Coca-Cola

Several institutional investors have recently made changes to their positions in KO. Norges Bank purchased a new stake in shares of Coca-Cola during the 4th quarter valued at $2,808,056,000. Price T Rowe Associates Inc. MD boosted its position in Coca-Cola by 21.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after purchasing an additional 8,733,326 shares during the period. Fisher Asset Management LLC boosted its position in Coca-Cola by 11,138.6% during the 4th quarter. Fisher Asset Management LLC now owns 4,977,819 shares of the company’s stock worth $293,343,000 after purchasing an additional 4,933,527 shares during the period. Pathstone Holdings LLC purchased a new stake in Coca-Cola during the 4th quarter worth $193,342,000. Finally, Putnam Investments LLC boosted its position in Coca-Cola by 32.8% during the 4th quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock worth $709,051,000 after purchasing an additional 2,973,234 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

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.