Coca-Cola (NYSE:KO) Given New $78.00 Price Target at JPMorgan Chase & Co.

Coca-Cola (NYSE:KO - Get Free Report) had its price target upped by JPMorgan Chase & Co. from $74.00 to $78.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 8.40% from the stock's current price.

A number of other analysts also recently issued reports on the company. Royal Bank of Canada reiterated an "outperform" rating and set a $69.00 price target on shares of Coca-Cola in a research report on Thursday, February 6th. Morgan Stanley boosted their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Wells Fargo & Company raised their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Barclays reiterated an "overweight" rating on shares of Coca-Cola in a research report on Thursday, March 27th. Finally, DZ Bank raised Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target for the company in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Coca-Cola currently has an average rating of "Buy" and a consensus target price of $75.06.

Coca-Cola Price Performance

Shares of KO stock traded down $0.56 during trading hours on Monday, reaching $71.96. The stock had a trading volume of 11,598,635 shares, compared to its average volume of 15,374,298. The stock's fifty day simple moving average is $70.72 and its 200 day simple moving average is $66.50. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $309.67 billion, a PE ratio of 29.13, a PEG ratio of 3.79 and a beta of 0.45. Coca-Cola has a 12 month low of $60.62 and a 12 month high of $74.38.

Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. On average, equities research analysts predict that Coca-Cola will post 2.96 EPS for the current year.

Insider Transactions at Coca-Cola

In other Coca-Cola news, COO Henrique Braun sold 25,277 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the completion of the transaction, the chief operating officer now owns 52,466 shares of the company's stock, valued at $3,749,745.02. This represents a 32.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James Quincey sold 145,435 shares of Coca-Cola stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $24,324,191.46. This represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 313,423 shares of company stock worth $22,263,071. Company insiders own 0.97% of the company's stock.

Institutional Investors Weigh In On Coca-Cola

Several institutional investors and hedge funds have recently modified their holdings of the stock. MorganRosel Wealth Management LLC bought a new position in Coca-Cola in the first quarter worth about $25,000. Crowley Wealth Management Inc. bought a new position in shares of Coca-Cola in the 4th quarter worth approximately $27,000. Garde Capital Inc. purchased a new position in shares of Coca-Cola in the 1st quarter valued at approximately $30,000. Mainstream Capital Management LLC bought a new stake in shares of Coca-Cola during the fourth quarter valued at approximately $31,000. Finally, Mizuho Securities Co. Ltd. grew its stake in Coca-Cola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after purchasing an additional 360 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

About Coca-Cola

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.