The Coca-Cola (NYSE:KO) has been given a $56.00 target price by analysts at Royal Bank of Canada in a note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 22.06% from the stock’s current price.
Several other research firms have also commented on KO. Jefferies Group set a $47.00 price target on shares of The Coca-Cola and gave the company a “neutral” rating in a research report on Friday, October 13th. lifted their price target on shares of The Coca-Cola from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, September 27th. BMO Capital Markets reaffirmed a “hold” rating and set a $47.00 price target on shares of The Coca-Cola in a research report on Friday, October 27th. JPMorgan Chase & Co. set a $48.00 price target on shares of The Coca-Cola and gave the company a “neutral” rating in a research report on Friday, December 15th. Finally, Goldman Sachs Group set a $45.00 price target on shares of The Coca-Cola and gave the company a “sell” rating in a research report on Thursday, October 26th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $48.47.
The Coca-Cola (KO) traded up $0.16 on Wednesday, reaching $45.88. 8,370,636 shares of the company’s stock were exchanged, compared to its average volume of 11,387,233. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.39 and a quick ratio of 1.30. The Coca-Cola has a twelve month low of $40.22 and a twelve month high of $47.48. The stock has a market cap of $195,692.44, a price-to-earnings ratio of 43.70, a price-to-earnings-growth ratio of 3.93 and a beta of 0.70.
In other The Coca-Cola news, insider J Alexander Douglas, Jr. sold 338,009 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $46.09, for a total value of $15,578,834.81. Following the completion of the transaction, the insider now owns 320,013 shares in the company, valued at $14,749,399.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.51% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. grew its position in The Coca-Cola by 59.4% during the second quarter. Meeder Asset Management Inc. now owns 2,754 shares of the company’s stock worth $124,000 after buying an additional 1,026 shares during the period. Veritas Investment Management LLP purchased a new position in shares of The Coca-Cola during the third quarter valued at approximately $135,000. Spectrum Management Group Inc. purchased a new position in shares of The Coca-Cola during the third quarter valued at approximately $137,000. Legacy Advisors LLC purchased a new position in shares of The Coca-Cola during the third quarter valued at approximately $139,000. Finally, Almanack Investment Partners LLC. purchased a new position in shares of The Coca-Cola during the second quarter valued at approximately $142,000. 65.30% of the stock is owned by hedge funds and other institutional investors.
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About The Coca-Cola
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
