Coca-Cola (NYSE:KO) Given New $78.00 Price Target at UBS Group

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

A number of other research analysts have also issued reports on the company. Piper Sandler dropped their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a research note on Thursday, February 6th. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Barclays cut their price target on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. cut their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. 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 an average rating of “Moderate Buy” and an average target price of $73.82.

Coca-Cola Stock Performance

NYSE KO opened at $68.85 on Wednesday. The stock has a fifty day simple moving average of $62.90 and a 200-day simple moving average of $66.36. Coca-Cola has a twelve month low of $57.93 and a twelve month high of $73.53. The stock has a market cap of $296.59 billion, a PE ratio of 28.45, a P/E/G 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 (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) 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 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KO. ORG Wealth Partners LLC bought a new position in shares of Coca-Cola in the 3rd quarter valued at about $58,000. Creative Planning raised its position in shares of Coca-Cola by 4.0% in the third quarter. Creative Planning now owns 1,852,532 shares of the company’s stock valued at $133,123,000 after buying an additional 70,604 shares in the last quarter. Acorn Creek Capital LLC bought a new position in Coca-Cola in the third quarter valued at approximately $207,000. CCG Wealth Management LLC increased its stake in Coca-Cola by 4.3% in the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock valued at $260,000 after acquiring an additional 149 shares during the last quarter. Finally, Opal Wealth Advisors LLC grew its stake in shares of Coca-Cola by 6.7% during the third quarter. Opal Wealth Advisors LLC now owns 15,405 shares of the company’s stock worth $1,107,000 after buying an additional 970 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

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.