Wells Fargo & Company Forecasts Strong Price Appreciation for CocaCola (NYSE:KO) Stock

CocaCola (NYSE:KO) had its price objective raised by equities researchers at Wells Fargo & Company from $75.00 to $79.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 12.83% from the stock’s previous close.

Other research analysts also recently issued reports about the company. UBS Group cut their price objective on CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the stock an “outperform” rating in a research note on Monday, July 21st. JPMorgan Chase & Co. raised their target price on shares of CocaCola from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Finally, Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the company. According to MarketBeat, CocaCola has a consensus rating of “Buy” and an average price target of $78.31.

CocaCola Stock Down 1.1%

KO stock opened at $70.01 on Wednesday. The firm has a market cap of $301.32 billion, a PE ratio of 23.18, a PEG ratio of 3.69 and a beta of 0.43. CocaCola has a 1 year low of $60.62 and a 1 year high of $74.38. The company has a fifty day simple moving average of $67.82 and a 200 day simple moving average of $69.72. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.30.

CocaCola (NYSE:KO) last posted its earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The firm had revenue of $11.40 billion for the quarter. Sell-side analysts anticipate that CocaCola will post 2.96 EPS for the current fiscal year.

Insider Transactions at CocaCola

In other news, insider Nikolaos Koumettis sold 37,396 shares of the business’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the transaction, the insider owned 209,513 shares in the company, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.97% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CocaCola

A number of institutional investors have recently added to or reduced their stakes in KO. Brighton Jones LLC lifted its position in shares of CocaCola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock worth $2,433,000 after acquiring an additional 4,591 shares during the period. Revolve Wealth Partners LLC raised its stake in shares of CocaCola by 3.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after purchasing an additional 293 shares in the last quarter. GAMMA Investing LLC lifted its position in CocaCola by 19.0% in the first quarter. GAMMA Investing LLC now owns 83,231 shares of the company’s stock worth $5,961,000 after purchasing an additional 13,261 shares during the period. Consolidated Portfolio Review Corp boosted its stake in CocaCola by 3.1% during the first quarter. Consolidated Portfolio Review Corp now owns 5,480 shares of the company’s stock worth $392,000 after buying an additional 166 shares in the last quarter. Finally, YHB Investment Advisors Inc. increased its holdings in CocaCola by 4.5% in the 1st quarter. YHB Investment Advisors Inc. now owns 14,309 shares of the company’s stock valued at $1,025,000 after buying an additional 610 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

CocaCola 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.