Wells Fargo & Company Raises Coca-Cola (NYSE:KO) Price Target to $75.00

Coca-Cola (NYSE:KO) had its target price upped by Wells Fargo & Company from $70.00 to $75.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 7.95% from the stock’s previous close.

A number of other analysts have also weighed in on KO. JPMorgan Chase & Co. dropped their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, January 8th. 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. Barclays dropped their price target on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $73.82.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $69.48 on Wednesday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. Coca-Cola has a one year low of $57.93 and a one year high of $73.53. The business’s 50 day simple moving average is $62.76 and its two-hundred day simple moving average is $66.33. The stock has a market capitalization of $299.28 billion, a P/E ratio of 28.71, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued 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 net margin of 22.45% and a return on equity of 44.01%. Analysts forecast that Coca-Cola will post 2.85 EPS for the current year.

Institutional Trading of Coca-Cola

A number of hedge funds have recently made changes to their positions in the stock. Crowley Wealth Management Inc. purchased a new position in Coca-Cola during the fourth quarter valued at $27,000. Mainstream Capital Management LLC bought a new position in shares of Coca-Cola during the fourth quarter valued at $31,000. Hara Capital LLC purchased a new position in shares of Coca-Cola in the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Coca-Cola in the 3rd quarter worth about $36,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in Coca-Cola during the 4th quarter valued at about $37,000. 70.26% of the stock is 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.