UBS Group Raises The Coca-Cola (NYSE:KO) Price Target to $62.00

The Coca-Cola (NYSE:KO) had its price objective hoisted by equities research analysts at UBS Group from $59.00 to $62.00 in a report released on Thursday, Briefing.com reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price objective suggests a potential upside of 9.83% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Credit Suisse Group increased their target price on shares of The Coca-Cola from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Thursday. Wolfe Research initiated coverage on shares of The Coca-Cola in a report on Monday, April 12th. They issued a “peer perform” rating for the company. Jefferies Financial Group raised their price target on shares of The Coca-Cola from $57.00 to $59.00 and gave the company a “hold” rating in a report on Friday, July 16th. JPMorgan Chase & Co. lifted their target price on shares of The Coca-Cola from $56.00 to $59.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Morgan Stanley lifted their target price on shares of The Coca-Cola from $64.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $61.25.

The Coca-Cola stock traded down $0.10 during mid-day trading on Thursday, hitting $56.45. 185,130 shares of the company’s stock were exchanged, compared to its average volume of 13,722,054. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.13 and a current ratio of 1.33. The firm has a market capitalization of $243.39 billion, a PE ratio of 33.77, a P/E/G ratio of 3.35 and a beta of 0.61. The Coca-Cola has a 1-year low of $46.22 and a 1-year high of $57.56. The business has a 50 day moving average price of $54.97.

The Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 20th. The company reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.12. The firm had revenue of $10.10 billion for the quarter, compared to the consensus estimate of $9.30 billion. The Coca-Cola had a net margin of 21.59% and a return on equity of 41.48%. The business’s quarterly revenue was up 40.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share. Analysts expect that The Coca-Cola will post 2.19 EPS for the current fiscal year.

In other The Coca-Cola news, CEO James Quincey sold 110,000 shares of the business’s stock in a transaction dated Friday, April 23rd. The shares were sold at an average price of $54.48, for a total transaction of $5,992,800.00. Following the sale, the chief executive officer now directly owns 266,718 shares of the company’s stock, valued at approximately $14,530,796.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nikolaos Koumettis sold 55,392 shares of the business’s stock in a transaction dated Friday, June 4th. The stock was sold at an average price of $55.89, for a total transaction of $3,095,858.88. Following the transaction, the insider now owns 170,403 shares in the company, valued at $9,523,823.67. The disclosure for this sale can be found here. Insiders sold a total of 185,303 shares of company stock worth $10,213,630 over the last ninety days. 1.01% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Retirement Group LLC grew its position in shares of The Coca-Cola by 70.4% during the 1st quarter. Retirement Group LLC now owns 484 shares of the company’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Paradigm Strategies in Wealth Management LLC acquired a new position in shares of The Coca-Cola during the 1st quarter worth approximately $29,000. Elkhorn Partners Limited Partnership acquired a new position in shares of The Coca-Cola during the 1st quarter worth approximately $32,000. Alpha DNA Investment Management LLC acquired a new position in shares of The Coca-Cola during the 4th quarter worth approximately $35,000. Finally, West Financial Advisors LLC acquired a new position in shares of The Coca-Cola during the 4th quarter worth approximately $41,000. Institutional investors own 66.21% of the company’s stock.

About The Coca-Cola

The Coca-Cola Co is the nonalcoholic beverage company, which engages in the manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks, water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater, and Ice Dew.

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Analyst Recommendations for The Coca-Cola (NYSE:KO)

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