The Coca-Cola Co (NYSE:KO) unveiled the world’s first PET plastic bottle made entirely from plant materials at the World Expo – Milan. PlantBottle packaging pushes the boundaries on sustainable innovation by using groundbreaking technology to create a fully recyclable plastic bottle made from renewable plant materials.
PlantBottle packaging is The Coca-Cola Company’s vision to develop a more responsible plant-based alternative to packaging traditionally made from fossil fuels and other non-renewable materials. PlantBottle packaging uses patented technology that converts natural sugars found in plants into the ingredients for making PET plastic bottles. The packaging looks, functions and recycles like traditional PET but has a lighter footprint on the planet and its scarce resources.
Nancy Quan, Global Research and Development Officer, The Coca-Cola Company said “Today is a pioneering milestone within our Company’s packaging portfolio. Our vision was to maximize game-changing technology, using responsibly sourced plant-based materials to create the globe’s first fully recyclable PET plastic bottle made entirely from renewable materials. We are delighted to unveil the first bottles here at World Expo – a world-class exhibition where sustainable innovation is celebrated.”
PlantBottle packaging maintains the high quality package consumers expect but with the added benefit of being made from renewable materials. It can be used for a variety of packaging sizes and across water, sparkling, juice and tea beverage brands. Today, the company uses sugarcane and waste from the sugarcane manufacturing process to create PlantBottle packaging. Both materials meet The Coca-Cola Company’s established sustainability criteria used to identify plant-based ingredients for PlantBottle material. These guiding principles include demonstrating improved environmental and social performance as well as avoiding negative impacts on food security.
Since the 2009 launch, The Coca-Cola Company has distributed more than 35 billion bottles in nearly 40 countries using its current version of PlantBottle packaging which is made from up to 30% plant-based materials. It is estimated the use of PlantBottle packaging since launch has helped save the equivalent annual emissions of more than 315,000 metric tons of carbon dioxide.
The Coca-Cola Company plans to continue investment in its award-winning PlantBottle packaging. (Original Source)
Shares of Coca-cola Company closed yesterday at $40.99 . KO has a 1-year high of $45 and a 1-year low of $39.06. The stock’s 50-day moving average is $40.92 and its 200-day moving average is $41.58.
On the ratings front, Coca-cola Company has been the subject of a number of recent research reports. In a report issued on June 1, BMO analyst Amit Sharma upgraded KO to Buy, with a price target of $48, which implies an upside of 17.1% from current levels. Separately, on April 24, Deutsche Bank’s Bill Schmitz reiterated a Buy rating on the stock and has a price target of $45.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Amit Sharma and Bill Schmitz have a total average return of 11.2% and 9.3% respectively. Sharma has a success rate of 64.0% and is ranked #975 out of 3610 analysts, while Schmitz has a success rate of 75.9% and is ranked #608.
The street is mostly Bullish on KO stock. Out of 5 analysts who cover the stock, 5 suggest a Buy rating . The 12-month average price target assigned to the stock is $46.67, which represents a potential upside of 13.9% from where the stock is currently trading.