Barclays Forecasts Strong Price Appreciation for Coca-Cola (NYSE:KO) Stock

Coca-Cola (NYSE:KO) had its price objective lifted by Barclays from $66.00 to $73.00 in a report issued on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other brokerages also recently commented on KO. DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Piper Sandler cut 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 boosted their target price on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Truist Financial raised their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.82.

Coca-Cola Trading Down 0.9 %

NYSE KO opened at $68.85 on Thursday. The firm’s 50 day moving average price is $63.02 and its two-hundred day moving average price is $66.37. The stock has a market cap of $296.59 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 3.55 and a beta of 0.61. Coca-Cola has a twelve month low of $57.93 and a twelve month high of $73.53. 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 (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 return on equity of 44.01% and a net margin of 22.45%. Equities analysts anticipate that Coca-Cola will post 2.85 EPS for the current year.

Hedge Funds Weigh In On Coca-Cola

Institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new position in shares of Coca-Cola during the fourth quarter worth approximately $3,402,151,000. Capital International Investors increased its position in Coca-Cola by 96.0% during the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock worth $1,553,337,000 after acquiring an additional 12,222,885 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Coca-Cola by 18.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock valued at $4,617,400,000 after purchasing an additional 11,569,920 shares during the last quarter. FMR LLC boosted its holdings in Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after purchasing an additional 11,206,995 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Coca-Cola during the 4th quarter worth about $500,192,000. 70.26% of the stock is currently owned by institutional investors.

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.