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

Coca-Cola (NYSE:KO) had its price objective boosted by research analysts at Barclays from $66.00 to $73.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 6.03% from the stock’s previous close.

Several other equities analysts also recently commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $69.00 target price on shares of Coca-Cola in a research report on Thursday, February 6th. Truist Financial raised their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. UBS Group raised their price target on Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday. DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Thursday. Finally, Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $73.82.

Coca-Cola Price Performance

Coca-Cola stock opened at $68.85 on Thursday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The company has a market capitalization of $296.59 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61. Coca-Cola has a one year low of $57.93 and a one year high of $73.53. The business has a 50 day simple moving average of $62.90 and a 200 day simple moving average of $66.36.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, February 11th. The company reported $0.55 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%. On average, sell-side analysts forecast that Coca-Cola will post 2.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Coca-Cola

A number of institutional investors have recently made changes to their positions in KO. Creative Planning lifted its holdings in Coca-Cola by 4.0% during the third quarter. Creative Planning now owns 1,852,532 shares of the company’s stock worth $133,123,000 after acquiring an additional 70,604 shares in the last quarter. McKinley Carter Wealth Services Inc. lifted its holdings in Coca-Cola by 24.0% during the third quarter. McKinley Carter Wealth Services Inc. now owns 10,094 shares of the company’s stock worth $725,000 after acquiring an additional 1,955 shares in the last quarter. Amplius Wealth Advisors LLC lifted its holdings in Coca-Cola by 7.8% during the third quarter. Amplius Wealth Advisors LLC now owns 9,049 shares of the company’s stock worth $650,000 after acquiring an additional 654 shares in the last quarter. Wolff Wiese Magana LLC lifted its holdings in Coca-Cola by 0.7% during the third quarter. Wolff Wiese Magana LLC now owns 26,342 shares of the company’s stock worth $1,893,000 after acquiring an additional 179 shares in the last quarter. Finally, Cornerstone Wealth Management LLC lifted its holdings in Coca-Cola by 1.0% during the third quarter. Cornerstone Wealth Management LLC now owns 113,071 shares of the company’s stock worth $8,125,000 after acquiring an additional 1,150 shares in the last quarter. 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.