Coca-Cola (NYSE:KO) Price Target Raised to $84.00 at UBS Group

Coca-Cola (NYSE:KO - Get Free Report) had its price target increased by equities researchers at UBS Group from $78.00 to $84.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's price target would indicate a potential upside of 15.08% from the stock's previous close.

Other research analysts have also recently issued research reports about the company. Morgan Stanley increased their price objective on Coca-Cola from $76.00 to $78.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Barclays reaffirmed an "overweight" rating on shares of Coca-Cola in a research report on Thursday, March 27th. Evercore ISI boosted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. lowered their target price on shares of Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $69.00 price target on shares of Coca-Cola in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola has an average rating of "Buy" and a consensus target price of $74.59.

Coca-Cola Stock Performance

Shares of KO stock traded up $1.31 during midday trading on Thursday, hitting $72.99. 20,745,798 shares of the company were exchanged, compared to its average volume of 15,385,871. Coca-Cola has a 52 week low of $59.72 and a 52 week high of $73.95. The firm has a market capitalization of $314.13 billion, a P/E ratio of 29.55, a PEG ratio of 3.79 and a beta of 0.45. The firm's 50 day moving average price is $70.39 and its two-hundred day moving average price is $66.39. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. As a group, equities research analysts anticipate that Coca-Cola will post 2.96 earnings per share for the current year.

Insider Activity at Coca-Cola

In other news, insider Bruno Pietracci sold 19,058 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James Quincey sold 145,435 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the transaction, the chief executive officer now owns 342,546 shares of the company's stock, valued at approximately $24,324,191.46. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 313,423 shares of company stock valued at $22,263,071 in the last quarter. Insiders own 0.90% of the company's stock.

Hedge Funds Weigh In On Coca-Cola

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Howard Capital Management Group LLC boosted its holdings in Coca-Cola by 0.5% in the third quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company's stock valued at $28,716,000 after acquiring an additional 2,069 shares during the last quarter. Morse Asset Management Inc boosted its stake in shares of Coca-Cola by 25.0% in the 3rd quarter. Morse Asset Management Inc now owns 17,500 shares of the company's stock valued at $1,258,000 after purchasing an additional 3,500 shares during the last quarter. Bard Financial Services Inc. increased its position in shares of Coca-Cola by 0.4% during the third quarter. Bard Financial Services Inc. now owns 182,521 shares of the company's stock worth $13,116,000 after buying an additional 680 shares during the period. Aldebaran Financial Inc. lifted its holdings in Coca-Cola by 21.4% in the third quarter. Aldebaran Financial Inc. now owns 11,711 shares of the company's stock valued at $842,000 after buying an additional 2,065 shares during the period. Finally, Wealthquest Corp bought a new stake in Coca-Cola during the third quarter valued at $412,000. 70.26% of the stock is currently 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.