Coca-Cola (NYSE:KO) Given New $75.00 Price Target at Wells Fargo & Company

Coca-Cola (NYSE:KO) had its price target raised by stock analysts at Wells Fargo & Company from $70.00 to $75.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 10.13% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Piper Sandler dropped their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Evercore ISI increased their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. UBS Group dropped their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Barclays dropped their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.94.

Coca-Cola Trading Up 0.7 %

Shares of KO traded up $0.50 during trading hours on Wednesday, reaching $68.10. 4,675,914 shares of the company traded hands, compared to its average volume of 15,657,926. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm has a market cap of $293.37 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 3.55 and a beta of 0.61. Coca-Cola has a 12-month low of $57.93 and a 12-month high of $73.53. The stock’s fifty day moving average price is $62.63 and its 200 day moving average price is $66.32.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating 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%. Sell-side analysts forecast that Coca-Cola will post 2.85 earnings per share for the current year.

Hedge Funds Weigh In On Coca-Cola

A number of institutional investors and hedge funds have recently made changes to their positions in KO. FMR LLC raised its position in shares of Coca-Cola by 13.7% during the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after acquiring an additional 11,206,995 shares in the last quarter. Geode Capital Management LLC raised its stake in Coca-Cola by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after acquiring an additional 2,966,964 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Coca-Cola by 18.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock valued at $4,617,400,000 after acquiring an additional 11,569,920 shares during the last quarter. Norges Bank purchased a new position in shares of Coca-Cola during the fourth quarter worth about $3,402,151,000. Finally, Wellington Management Group LLP increased its position in shares of Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after purchasing an additional 4,013,996 shares in 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.