Evercore ISI Raises Coca-Cola (NYSE:KO) Price Target to $75.00

Coca-Cola (NYSE:KO) had its price target raised by analysts at Evercore ISI from $72.00 to $75.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s price target indicates a potential upside of 10.92% from the stock’s previous close.

KO has been the subject of several other reports. TD Cowen raised 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. Piper Sandler lowered their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Truist Financial upped their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Barclays decreased their target price on shares of 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, Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and a consensus target price of $72.63.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $67.61 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 12 month low of $57.93 and a 12 month high of $73.53. The firm has a market capitalization of $291.27 billion, a P/E ratio of 27.94, a P/E/G ratio of 3.55 and a beta of 0.61. The company’s fifty day moving average price is $62.63 and its 200 day moving average price is $66.32.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating 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%. As a group, sell-side analysts predict that Coca-Cola will post 2.85 earnings per share for the current fiscal year.

Institutional Trading of Coca-Cola

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Crowley Wealth Management Inc. purchased a new stake in shares of Coca-Cola in the 4th quarter worth about $27,000. Hara Capital LLC acquired a new position in Coca-Cola during the third quarter worth about $35,000. Mainstream Capital Management LLC purchased a new stake in shares of Coca-Cola in the fourth quarter valued at about $31,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola in the third quarter valued at approximately $36,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of Coca-Cola during the 3rd quarter worth approximately $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

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.