Coca-Cola (NYSE:KO) Price Target Raised to $78.00

Coca-Cola (NYSE:KO) had its price target increased by Morgan Stanley from $76.00 to $78.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently issued reports on the company. Wells Fargo & Company dropped their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Barclays lowered their target price on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. JPMorgan Chase & Co. decreased their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $69.00 price target on shares of Coca-Cola in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and a consensus price target of $73.82.

Coca-Cola Stock Performance

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

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates 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, analysts predict that Coca-Cola will post 2.85 earnings per share for the current year.

Hedge Funds Weigh In On Coca-Cola

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Crowley Wealth Management Inc. bought a new position in shares of Coca-Cola during the fourth quarter worth $27,000. Mainstream Capital Management LLC bought a new stake in Coca-Cola in the 4th quarter valued at $31,000. Hara Capital LLC bought a new stake in Coca-Cola in the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola in the 3rd quarter valued at $36,000. Finally, Retirement Wealth Solutions LLC bought a new stake in Coca-Cola in the 4th quarter valued at $37,000. 70.26% of the stock is owned by institutional investors.

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.