Coca-Cola (NYSE:KO) Price Target Lowered to $72.00 at UBS Group

Coca-Cola (NYSE:KO) had its price target reduced by equities researchers at UBS Group from $82.00 to $72.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s target price suggests a potential upside of 15.63% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Piper Sandler initiated coverage on Coca-Cola in a research note on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price target for the company. Truist Financial increased their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Barclays lowered their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $72.60.

Coca-Cola Price Performance

Shares of NYSE:KO traded up $0.50 during midday trading on Thursday, hitting $62.27. The stock had a trading volume of 8,349,447 shares, compared to its average volume of 15,486,138. The company’s 50-day moving average price is $62.78 and its 200-day moving average price is $66.47. The company has a market capitalization of $268.23 billion, a P/E ratio of 25.73, a price-to-earnings-growth ratio of 3.35 and a beta of 0.61. Coca-Cola has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.74 earnings per share. As a group, equities research analysts predict that Coca-Cola will post 2.85 EPS for the current fiscal year.

Insider Activity

In other news, CEO James Quincey sold 100,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Coca-Cola

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sky Investment Group LLC lifted its holdings in shares of Coca-Cola by 2.8% during the fourth quarter. Sky Investment Group LLC now owns 138,153 shares of the company’s stock valued at $8,601,000 after purchasing an additional 3,791 shares during the last quarter. Zhang Financial LLC boosted its stake in Coca-Cola by 7.0% in the 4th quarter. Zhang Financial LLC now owns 10,591 shares of the company’s stock worth $659,000 after purchasing an additional 694 shares in the last quarter. Guinness Atkinson Asset Management Inc grew its position in Coca-Cola by 23.4% during the 4th quarter. Guinness Atkinson Asset Management Inc now owns 15,514 shares of the company’s stock valued at $966,000 after purchasing an additional 2,938 shares during the last quarter. Guinness Asset Management LTD increased its stake in Coca-Cola by 5.2% during the 4th quarter. Guinness Asset Management LTD now owns 3,222,386 shares of the company’s stock valued at $200,581,000 after purchasing an additional 160,349 shares in the last quarter. Finally, Corundum Group Inc. raised its holdings in Coca-Cola by 72.8% in the fourth quarter. Corundum Group Inc. now owns 18,098 shares of the company’s stock worth $1,127,000 after buying an additional 7,623 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other 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.