UBS Group Issues Positive Forecast for Coca-Cola (NYSE:KO) Stock Price

Coca-Cola (NYSE:KO) had its price target increased by UBS Group from $72.00 to $78.00 in a research report report published on Wednesday,Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other analysts have also recently weighed in on KO. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 target price on shares of Coca-Cola in a report on Thursday, February 6th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. Piper Sandler reduced their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, Barclays dropped their price target on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $73.31.

Coca-Cola Trading Up 1.7 %

Shares of KO stock opened at $68.73 on Wednesday. The firm has a market cap of $296.08 billion, a PE ratio of 28.40, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61. Coca-Cola has a 1-year low of $57.93 and a 1-year high of $73.53. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The company has a 50-day moving average of $62.63 and a two-hundred day moving average of $66.32.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. On average, analysts predict that Coca-Cola will post 2.85 EPS 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 company. KCM Investment Advisors LLC grew its position in Coca-Cola by 1.7% in the 4th quarter. KCM Investment Advisors LLC now owns 51,856 shares of the company’s stock valued at $3,229,000 after buying an additional 858 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in Coca-Cola in the fourth quarter valued at $81,694,000. Pioneer Trust Bank N A OR lifted its holdings in Coca-Cola by 5.3% in the fourth quarter. Pioneer Trust Bank N A OR now owns 13,567 shares of the company’s stock valued at $845,000 after acquiring an additional 687 shares during the period. Orion Investment Co lifted its holdings in Coca-Cola by 19.7% in the fourth quarter. Orion Investment Co now owns 6,083 shares of the company’s stock valued at $379,000 after acquiring an additional 1,000 shares during the period. Finally, Prudential PLC lifted its holdings in Coca-Cola by 7.1% in the fourth quarter. Prudential PLC now owns 72,074 shares of the company’s stock valued at $4,487,000 after acquiring an additional 4,761 shares during the period. 70.26% of the stock is currently owned by hedge funds and other 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.