UBS Group Raises Coca-Cola (NYSE:KO) Price Target to $78.00

Coca-Cola (NYSE:KO) had its price objective upped by research analysts at UBS Group from $72.00 to $78.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective indicates a potential upside of 14.74% from the stock’s previous close.

Several other analysts also recently issued reports on KO. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, January 8th. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Evercore ISI increased their target price on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday. Wells Fargo & Company increased their target price on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Truist Financial lifted their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.31.

Coca-Cola Stock Performance

Shares of KO stock traded up $0.38 during mid-day trading on Wednesday, hitting $67.98. 9,335,755 shares of the stock were exchanged, compared to its average volume of 15,857,782. The stock’s fifty day simple moving average is $62.63 and its two-hundred day simple moving average is $66.32. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. Coca-Cola has a 12-month low of $57.93 and a 12-month high of $73.53. The stock has a market capitalization of $292.84 billion, a price-to-earnings ratio of 28.09, a P/E/G ratio of 3.55 and a beta of 0.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates 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 forecast that Coca-Cola will post 2.85 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Crowley Wealth Management Inc. purchased a new stake in shares of Coca-Cola in the fourth quarter valued at $27,000. Hara Capital LLC acquired a new position in Coca-Cola during the third quarter valued at $35,000. Mainstream Capital Management LLC purchased a new stake in Coca-Cola in the 4th quarter worth about $31,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola during the 3rd quarter valued at about $36,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in Coca-Cola during the 3rd quarter valued at about $43,000. 70.26% of the stock is owned by institutional investors and hedge funds.

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.