Coca-Cola Earns Moderate Buy Rating Amid Insider Selling
The Coca-Cola Company (KO) has received an average recommendation of 'Moderate Buy' from eighteen research firms, according to Marketbeat. The company's stock has been rated by analysts with a hold rating, buy rating, and strong buy rating. Bank of America raised its target price on KO shares from $90.00 to $95.00 and gave the company a 'buy' rating in July.
The Goldman Sachs Group reaffirmed a 'neutral' rating and set a $86.00 price target on KO shares, up from $82.00. Weiss Ratings upgraded Coca-Cola from a 'buy (b+)' rating to a 'buy (a-)' rating in September. Insiders sold 926,620 shares of company stock worth $83,075,714 in the last quarter.
The sale was made by CFO John Murphy and EVP Nancy Quan to cover tax withholding obligations related to the vesting of equity awards. Institutional investors have added to or reduced their stakes in KO, with Security National Bank of Sioux City Iowa IA growing its position in shares of Coca-Cola by 54.5% during the second quarter.