Wells Fargo Cuts Coca-Cola Price Target to $90.00

Wells Fargo & Company downgraded its price target for Coca-Cola (NYSE: KO) from $95.00 to $90.00 in a report released on Monday. Despite the cut, the firm maintains an "overweight" rating on the stock, suggesting a potential upside of 5.67% from the previous close.

Other analysts have recently weighed in with varied assessments. BNP Paribas Exane increased its target price from $90.00 to $98.00 with an "outperform" rating, while JPMorgan Chase & Co. reduced its target slightly from $96.00 to $95.00, keeping an "overweight" rating. TD Cowen raised its target to $100.00 with a "buy" rating, and Truist Financial set a target of $88.00. Overall, Coca-Cola has a "Moderate Buy" rating with an average price target of $95.95.

Coca-Cola's stock opened at $85.17 on Monday, with a market cap of $366.44 billion and a P/E ratio of 25.61. The company reported earnings of $0.97 per share for the latest quarter, surpassing estimates of $0.93. Revenue for the quarter was $13.37 billion, up 6.2% year-over-year.

Insider activity has also been notable, with Bruno Pietracci selling 111,365 shares at $90.93 each to cover tax obligations, and EVP Nancy Quan selling 50,000 shares at $90.39 each. Institutional investors hold 70.26% of the stock, with several firms adjusting their positions in recent quarters.