CocaCola (NYSE:KO) Hits New 1-Year High – Time to Buy?

CocaCola Company (The) (NYSE:KO) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $74.45 and last traded at $74.49, with a volume of 13699755 shares. The stock had previously closed at $73.43.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KO. Barclays reiterated an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $83.00 target price on shares of CocaCola in a report on Thursday. Wells Fargo & Company raised their target price on shares of CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Bank of America increased their price target on CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $79.69.

CocaCola Stock Performance

The firm has a market capitalization of $320.10 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 3.75 and a beta of 0.39. The stock has a fifty day moving average price of $70.83 and a 200-day moving average price of $69.46. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30.

Insider Buying and Selling

In other CocaCola news, EVP Nancy Quan sold 31,625 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $71.17, for a total value of $2,250,751.25. Following the transaction, the executive vice president directly owned 223,330 shares in the company, valued at $15,894,396.10. The trade was a 12.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Henrique Braun sold 40,390 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $70.93, for a total value of $2,864,862.70. Following the completion of the transaction, the chief operating officer owned 62,621 shares in the company, valued at $4,441,707.53. The trade was a 39.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 211,704 shares of company stock valued at $15,005,595. 0.97% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Brighton Jones LLC lifted its position in shares of CocaCola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after buying an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in CocaCola by 3.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after buying an additional 293 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in CocaCola during the 1st quarter worth approximately $210,000. LBP AM SA increased its stake in shares of CocaCola by 3.8% in the second quarter. LBP AM SA now owns 113,132 shares of the company’s stock worth $8,004,000 after buying an additional 4,169 shares during the period. Finally, Consolidated Portfolio Review Corp grew its position in shares of CocaCola by 30.3% in the 2nd quarter. Consolidated Portfolio Review Corp now owns 7,138 shares of the company’s stock worth $505,000 after buying an additional 1,658 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

About CocaCola

The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.