Coca-Cola (NYSE:KO) Price Target Raised to $75.00

Coca-Cola (NYSE:KO) had its price target lifted by Wells Fargo & Company from $70.00 to $75.00 in a research note published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

KO has been the topic of a number of other reports. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 target price on shares of Coca-Cola in a research note on Thursday, February 6th. Truist Financial lifted their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Piper Sandler decreased their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Morgan Stanley lifted their price objective on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $73.82.

Coca-Cola Stock Performance

Shares of KO stock opened at $68.85 on Wednesday. The company has a market cap of $296.59 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61. Coca-Cola has a 52 week low of $57.93 and a 52 week high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The firm has a 50 day moving average of $62.90 and a 200-day moving average of $66.36.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. On average, equities analysts forecast that Coca-Cola will post 2.85 earnings per share for the current year.

Institutional Trading of Coca-Cola

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Crowley Wealth Management Inc. purchased a new stake in Coca-Cola in the fourth quarter worth $27,000. Mainstream Capital Management LLC purchased a new position in Coca-Cola in the fourth quarter worth about $31,000. Hara Capital LLC purchased a new position in Coca-Cola in the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola in the third quarter worth about $36,000. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Coca-Cola during the 4th quarter valued at about $37,000. Institutional investors own 70.26% of the company’s stock.

About Coca-Cola

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.