Coca-Cola (NYSE:KO) Stock Price Expected to Rise, Evercore ISI Analyst Says

Coca-Cola (NYSE:KO) had its price target upped by analysts at Evercore ISI from $72.00 to $75.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s target price indicates a potential upside of 7.95% from the stock’s previous close.

Several other research firms also recently weighed in on KO. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. UBS Group decreased their price target on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Truist Financial boosted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company reduced their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.82.

Coca-Cola Stock Performance

Coca-Cola stock opened at $69.48 on Wednesday. The company has a 50 day moving average price of $62.76 and a 200-day moving average price of $66.33. 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 fifty-two week low of $57.93 and a fifty-two week high of $73.53. The company has a market capitalization of $299.28 billion, a PE ratio of 28.71, a P/E/G ratio of 3.55 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results 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 net margin of 22.45% and a return on equity of 44.01%. As a group, equities analysts forecast that Coca-Cola will post 2.85 earnings per share for the current year.

Hedge Funds Weigh In On Coca-Cola

Large investors have recently made changes to their positions in the business. CCG Wealth Management LLC grew its holdings in shares of Coca-Cola by 4.3% during the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock valued at $260,000 after buying an additional 149 shares during the last quarter. Investment Partners Asset Management Inc. grew its holdings in shares of Coca-Cola by 2.2% during the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after buying an additional 150 shares during the last quarter. Blossom Wealth Management grew its holdings in shares of Coca-Cola by 3.3% during the third quarter. Blossom Wealth Management now owns 4,890 shares of the company’s stock valued at $351,000 after buying an additional 155 shares during the last quarter. Peachtree Investment Partners LLC grew its holdings in shares of Coca-Cola by 1.4% during the fourth quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company’s stock valued at $697,000 after buying an additional 157 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL grew its holdings in shares of Coca-Cola by 1.6% during the third quarter. Strategic Investment Solutions Inc. IL now owns 9,993 shares of the company’s stock valued at $718,000 after buying an additional 159 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Company Profile

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.