Coca-Cola Stock (KO) Unfazed by Recycling Efforts
Coca-Cola (KO) stock didn't see much movement on Friday after the company announced a new recycling program. This program, being tested in the Philippines, offers cash rewards to small business owners who recycle plastic bottles, including those from brands other than Coca-Cola.
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This latest rewards program builds on Coca-Cola's efforts to increase recycling of its plastic bottles. It also recently launched a program in India that offers rewards to consumers who return bottles to special vending machines.
Coca-Cola's interest in recycling comes alongside increased protests from environmental groups. Activists have targeted the company for its reliance on plastic bottles. Coca-Cola isn't the only beverage company using these bottles, but it catches extra flak due to its market leader status in the soda sector.
Coca-Cola Fest Luanda
Coca-Cola also announced a new music festival, titled Fest Luanda, that will take place in Angola. This event is set for June 21, 2025, and will start at 4:00 PM local time. The company said the event will celebrate the 'dynamic spirit of Angolan youth and culture.'
Coca-Cola has taken an interest in music recently, with the launch of a new record label named 'real thing records.' It signed French-New Zealand singer-songwriter Max Allais and Indian singer-songwriter and producer Aksomaniac Among as the first two artists for the label.
KO stock has been largely unfazed by today's news, with shares down 0.17% as of this writing. The stock remains up 15.87% year-to-date and 14.68% over the past 12 months.
Is Coca-Cola Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts' consensus rating for Coca-Cola is Strong Buy, based on 15 Buy and one Hold rating over the past three months. With that comes an average KO stock price target of $79.53, representing a potential 10.95% upside for the shares.
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