After Guggenheim and Barclays gave Coca-Cola (NYSE: KO) a Buy rating last month, the company received another Buy, this time from RBC Capital. Analyst Nik Modi maintained a Buy rating on Coca-Cola yesterday and set a price target of $55.00. The company’s shares closed last Tuesday at $50.25.
According to TipRanks.com, Modi is a 5-star analyst with an average return of 8.6% and a 68.6% success rate. Modi covers the Consumer Goods sector, focusing on stocks such as The Estée Lauder Companies, Reynolds Consumer Products, and Spectrum Brands Holdings.
Currently, the analyst consensus on Coca-Cola is a Strong Buy with an average price target of $54.60, implying a 9.4% upside from current levels. In a report issued on October 9, Guggenheim also maintained a Buy rating on the stock with a $53.00 price target.
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Based on Coca-Cola’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $7.15 billion and net profit of $1.78 billion. In comparison, last year the company earned revenue of $10 billion and had a net profit of $2.61 billion.
Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KO in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
The Coca-Cola Co. is the nonalcoholic beverage company, which engages in the manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks, water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater, and Ice Dew. It operates through the following segments: Eurasia and Africa, Europe, Latin America, North America, Asia Pacific, Bottling Investments and Global Ventures. The company was founded by Asa Griggs Candler in 1886 and is headquartered in Atlanta, GA.
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