Wells Fargo & Co Reiterates “Buy” Rating for The Coca-Cola (KO)
The Coca-Cola (NYSE:KO)‘s stock had its “buy” rating reiterated by stock analysts at Wells Fargo & Co in a research note issued on Wednesday. They currently have a $52.00 price objective on the stock. Wells Fargo & Co’s target price would indicate a potential upside of 13.61% from the stock’s previous close.
KO has been the subject of a number of other reports. JPMorgan Chase & Co. reiterated a “$45.12” rating and set a $49.00 price target on shares of The Coca-Cola in a report on Wednesday, July 18th. Morgan Stanley set a $49.00 price target on The Coca-Cola and gave the stock a “neutral” rating in a report on Tuesday. Jefferies Financial Group reiterated a “neutral” rating and set a $44.00 price target on shares of The Coca-Cola in a report on Friday, May 25th. Argus upgraded The Coca-Cola to a “hold” rating in a report on Friday, August 24th. Finally, Morningstar set a $49.00 price target on The Coca-Cola and gave the stock a “buy” rating in a report on Friday, May 18th. Fourteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $50.28.
Shares of The Coca-Cola stock opened at $45.77 on Wednesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.15 and a quick ratio of 1.06. The Coca-Cola has a 1-year low of $41.45 and a 1-year high of $48.62. The stock has a market cap of $193.59 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 2.80 and a beta of 0.74.
In related news, VP Kathy N. Waller sold 48,354 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $46.45, for a total value of $2,246,043.30. Following the transaction, the vice president now owns 200,725 shares of the company’s stock, valued at approximately $9,323,676.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John Murphy sold 111,468 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $46.46, for a total transaction of $5,178,803.28. Following the completion of the transaction, the insider now directly owns 196,337 shares in the company, valued at approximately $9,121,817.02. The disclosure for this sale can be found here. Insiders have sold a total of 215,822 shares of company stock worth $10,027,727 in the last three months. Insiders own 1.48% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in The Coca-Cola by 1.9% in the 1st quarter. BlackRock Inc. now owns 246,505,322 shares of the company’s stock valued at $10,705,725,000 after acquiring an additional 4,526,566 shares in the last quarter. Morgan Stanley lifted its position in The Coca-Cola by 3.6% in the 2nd quarter. Morgan Stanley now owns 38,959,393 shares of the company’s stock valued at $1,708,760,000 after acquiring an additional 1,336,852 shares in the last quarter. Suntrust Banks Inc. lifted its position in shares of The Coca-Cola by 1.3% during the 1st quarter. Suntrust Banks Inc. now owns 20,136,587 shares of the company’s stock worth $874,530,000 after buying an additional 265,918 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of The Coca-Cola by 1.9% during the 2nd quarter. Janus Henderson Group PLC now owns 15,923,120 shares of the company’s stock worth $698,396,000 after buying an additional 299,933 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of The Coca-Cola by 2.8% during the 2nd quarter. Swiss National Bank now owns 15,439,790 shares of the company’s stock worth $677,189,000 after buying an additional 425,900 shares in the last quarter. 65.40% of the stock is currently owned by institutional investors and hedge funds.
The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plant?based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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