CocaCola's (KO) Buy (B-) Rating Reaffirmed at Weiss Ratings

Key Points

• CocaCola's stock is reaffirmed with a "buy (B-)" rating by Weiss Ratings, indicating analysts' continued confidence in the company's performance.
• The average price target for CocaCola shares is set at $78.31, with multiple analysts including Barclays and Royal Bank Of Canada giving positive ratings.
• CocaCola's stock has seen a 0.3% decrease recently, trading at approximately $69.74, while the company maintains a strong market capitalization of $300.13 billion.

CocaCola (NYSE:KO - Get Free Report)'s stock had its "buy (b-)" rating reissued by stock analysts at Weiss Ratings in a research note issued on Saturday,Weiss Ratings reports.

Other equities research analysts have also issued reports about the stock. Barclays reaffirmed an "overweight" rating on shares of CocaCola in a report on Thursday. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the company an "outperform" rating in a report on Monday, July 21st. Cowen reaffirmed a "buy" rating on shares of CocaCola in a report on Wednesday. Piper Sandler raised their price target on shares of CocaCola from $80.00 to $81.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, BNP Paribas reiterated an "outperform" rating and set a $83.00 price objective on shares of CocaCola in a research note on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $78.31.

CocaCola Trading Down 0.3%

Shares of CocaCola stock traded down $0.20 during trading hours on Friday, hitting $69.74. The company's stock had a trading volume of 15,676,356 shares, compared to its average volume of 15,649,827. CocaCola has a 1-year low of $60.62 and a 1-year high of $74.38. The business has a fifty day moving average of $67.81 and a 200 day moving average of $69.73. The company has a market capitalization of $300.13 billion, a PE ratio of 23.09, a P/E/G ratio of 3.66 and a beta of 0.43. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.30.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. The business had revenue of $11.40 billion during the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. As a group, equities analysts forecast that CocaCola will post 2.96 EPS for the current year.

Insider Activity

In other news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the transaction, the insider owned 209,513 shares of the company's stock, valued at $14,477,348.30. The trade was a 15.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.97% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CocaCola

Several hedge funds have recently made changes to their positions in KO. Brighton Jones LLC grew its stake in shares of CocaCola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock worth $2,433,000 after purchasing an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of CocaCola by 3.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company's stock worth $548,000 after purchasing an additional 293 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of CocaCola by 19.0% in the 1st quarter. GAMMA Investing LLC now owns 83,231 shares of the company's stock worth $5,961,000 after purchasing an additional 13,261 shares during the last quarter. Transcend Capital Advisors LLC grew its stake in shares of CocaCola by 5.0% in the 1st quarter. Transcend Capital Advisors LLC now owns 32,875 shares of the company's stock worth $2,354,000 after purchasing an additional 1,561 shares during the last quarter. Finally, Centerline Wealth Advisors LLC purchased a new position in shares of CocaCola in the first quarter worth approximately $258,000. Institutional investors and hedge funds own 70.26% of the company's stock.

CocaCola 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.

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