CocaCola (NYSE:KO) Trading 1.3% Higher – What’s Next?

CocaCola Company (The) (NYSE:KO)’s stock price was up 1.3% on Tuesday . The company traded as high as $73.56 and last traded at $73.5250. Approximately 13,128,063 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 18,106,971 shares. The stock had previously closed at $72.56.

Analysts Set New Price Targets

KO has been the subject of several research reports. Barclays restated an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. Bank of America raised their price target on shares of CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a report on Friday, November 7th. UBS Group restated a “buy” rating on shares of CocaCola in a research report on Friday, December 5th. Wells Fargo & Company increased their price objective on CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Finally, Piper Sandler boosted their target price on CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $79.08.

CocaCola Stock Up 1.3%

The business has a fifty day moving average of $70.70 and a 200 day moving average of $69.38. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. The firm has a market cap of $316.28 billion, a P/E ratio of 24.35, a P/E/G ratio of 3.75 and a beta of 0.39.

Insider Buying and Selling

In other news, EVP Manuel Arroyo sold 139,689 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $70.80, for a total transaction of $9,889,981.20. Following the sale, the executive vice president owned 58,067 shares of the company’s stock, valued at $4,111,143.60. This trade represents a 70.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Nancy Quan sold 31,625 shares of CocaCola stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $71.17, for a total value of $2,250,751.25. Following the transaction, the executive vice president owned 223,330 shares in the company, valued at $15,894,396.10. This trade represents a 12.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 211,704 shares of company stock valued at $15,005,595 in the last 90 days. 0.90% of the stock is owned by insiders.

Institutional Trading of CocaCola

Several hedge funds have recently bought and sold shares of KO. Caitong International Asset Management Co. Ltd raised its holdings in shares of CocaCola by 5,142.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after acquiring an additional 360 shares during the period. Headlands Technologies LLC bought a new position in CocaCola during the 2nd quarter worth about $26,000. Marquette Asset Management LLC bought a new position in CocaCola during the 3rd quarter worth about $27,000. Daytona Street Capital LLC acquired a new stake in shares of CocaCola in the 4th quarter valued at about $29,000. Finally, Cloud Capital Management LLC bought a new stake in shares of CocaCola in the third quarter valued at about $27,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

CocaCola Company Profile

The Coca?Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca?Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready?to?drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca?Cola’s brand portfolio includes widely recognized names such as Coca?Cola, Diet Coke, Coca?Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.