Wells Fargo & Company Has Lowered Expectations for CocaCola (NYSE:KO) Stock Price

Key Points

• Wells Fargo & Company has reduced the price target for CocaCola's stock from $78.00 to $75.00, indicating a potential upside of 12.58% from the previous close, while maintaining an "overweight" rating on the stock.
• Multiple analysts have varying price targets for CocaCola, with Royal Bank of Canada setting it at $76.00 and BNP Paribas at $83.00, highlighting a range of investment sentiment around the stock.
• Insider Nikolaos Koumettis sold 37,396 shares of CocaCola at an average price of $69.10, decreasing their ownership by 15.15%, which may raise concerns about insider sentiment regarding the stock.

CocaCola (NYSE:KO - Get Free Report) had its price objective cut by stock analysts at Wells Fargo & Company from $78.00 to $75.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price target would indicate a potential upside of 12.58% from the company's previous close.

Several other equities analysts have also commented on KO. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. BNP Paribas reaffirmed an "outperform" rating and set a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. UBS Group dropped their target price on CocaCola from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, September 11th. Morgan Stanley restated an "overweight" rating and set a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. Finally, JPMorgan Chase & Co. increased their target price on CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $76.93.

CocaCola Trading Up 0.3%

Shares of KO stock opened at $66.62 on Thursday. CocaCola has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. The firm's 50-day simple moving average is $68.76 and its 200-day simple moving average is $70.13. The firm has a market cap of $286.70 billion, a P/E ratio of 23.66, a PEG ratio of 3.47 and a beta of 0.43.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.04. The business had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%.The company's revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. As a group, equities analysts forecast that CocaCola will post 2.96 EPS for the current year.

Insider Buying and Selling

In other news, insider Nikolaos Koumettis sold 37,396 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the completion of the transaction, the insider directly owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.97% of the stock is currently owned by insiders.

Institutional Trading of CocaCola

Several hedge funds have recently made changes to their positions in KO. Fortitude Financial LLC bought a new position in CocaCola during the 2nd quarter worth $844,000. Caldwell Trust Co bought a new stake in CocaCola in the second quarter valued at $4,017,000. Watts Gwilliam & Co. LLC boosted its holdings in shares of CocaCola by 15.5% during the second quarter. Watts Gwilliam & Co. LLC now owns 12,425 shares of the company's stock valued at $826,000 after acquiring an additional 1,667 shares during the period. Canal Capital Management LLC grew its position in shares of CocaCola by 11.2% during the second quarter. Canal Capital Management LLC now owns 22,244 shares of the company's stock worth $1,574,000 after acquiring an additional 2,235 shares during the last quarter. Finally, NWF Advisory Services Inc. increased its holdings in shares of CocaCola by 10.8% in the 2nd quarter. NWF Advisory Services Inc. now owns 43,733 shares of the company's stock worth $3,094,000 after acquiring an additional 4,261 shares during the period. Institutional investors own 70.26% of the company's stock.

About CocaCola

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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