Wells Fargo & Company Issues Positive Forecast for Coca-Cola (NYSE:KO) Stock Price

Coca-Cola (NYSE:KO) had its price objective raised by Wells Fargo & Company from $70.00 to $75.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other research analysts have also issued reports about the company. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Truist Financial upped their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Finally, Piper Sandler lowered their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.31.

Coca-Cola Trading Up 1.7 %

Shares of NYSE KO opened at $68.73 on Wednesday. Coca-Cola has a 12 month low of $57.93 and a 12 month high of $73.53. The company has a market cap of $296.08 billion, a price-to-earnings ratio of 28.40, a P/E/G ratio of 3.55 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The business has a fifty day simple moving average of $62.63 and a 200-day simple moving average of $66.32.

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, topping 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%. Sell-side analysts predict that Coca-Cola will post 2.85 EPS for the current year.

Institutional Investors Weigh In On Coca-Cola

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC increased its stake in shares of 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 buying an additional 11,206,995 shares during the period. Geode Capital Management LLC increased its stake in shares of Coca-Cola by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after buying an additional 2,966,964 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Coca-Cola by 18.5% in 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 buying an additional 11,569,920 shares during the period. Norges Bank acquired a new stake in shares of Coca-Cola during the fourth quarter worth $3,402,151,000. Finally, Franklin Resources Inc. grew its stake in shares of Coca-Cola by 21.9% during the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock worth $2,123,301,000 after purchasing an additional 6,118,819 shares during the period. 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.