Cowen Raises Coca-Cola (NYSE:KO) Price Target to $68.00

Coca-Cola (NYSE:KOGet Rating) had its price target raised by stock analysts at Cowen from $65.00 to $68.00 in a research report issued on Tuesday, Stock Target Advisor reports. The brokerage presently has a “market perform” rating on the stock. Cowen’s price target indicates a potential upside of 3.61% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. Royal Bank of Canada increased their price target on Coca-Cola from $68.00 to $69.00 and gave the stock an “outperform” rating in a report on Tuesday. Morgan Stanley raised their target price on Coca-Cola from $65.00 to $71.00 and gave the company an “overweight” rating in a report on Tuesday, February 8th. JPMorgan Chase & Co. raised their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, March 30th. StockNews.com started coverage on Coca-Cola in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Wells Fargo & Company raised their target price on Coca-Cola from $67.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, February 11th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $66.84.

Shares of NYSE KO traded down $0.31 during mid-day trading on Tuesday, hitting $65.63. 287,870 shares of the company were exchanged, compared to its average volume of 18,836,814. The company has a quick ratio of 0.96, a current ratio of 1.13 and a debt-to-equity ratio of 1.53. The stock has a 50 day simple moving average of $62.13 and a 200-day simple moving average of $59.19. Coca-Cola has a 1-year low of $52.28 and a 1-year high of $67.20. The firm has a market cap of $284.51 billion, a price-to-earnings ratio of 29.04, a price-to-earnings-growth ratio of 3.21 and a beta of 0.65.

Coca-Cola (NYSE:KOGet Rating) last issued its quarterly earnings results on Monday, April 25th. The company reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.06. Coca-Cola had a return on equity of 42.21% and a net margin of 25.28%. The firm had revenue of $10.50 billion during the quarter, compared to the consensus estimate of $9.83 billion. During the same period last year, the company earned $0.55 earnings per share. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. Analysts anticipate that Coca-Cola will post 2.44 earnings per share for the current fiscal year.

In other Coca-Cola news, insider Nikolaos Koumettis sold 153,466 shares of the stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $65.03, for a total transaction of $9,979,893.98. Following the transaction, the insider now owns 136,513 shares of the company’s stock, valued at $8,877,440.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Beatriz R. Perez sold 25,406 shares of the stock in a transaction that occurred on Tuesday, February 8th. The stock was sold at an average price of $62.01, for a total transaction of $1,575,426.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 512,819 shares of company stock worth $32,431,674. 0.98% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. Curi Wealth Management LLC purchased a new position in shares of Coca-Cola in the 4th quarter valued at $25,000. Shore Point Advisors LLC acquired a new stake in Coca-Cola during the 4th quarter valued at $28,000. Delos Wealth Advisors LLC grew its holdings in Coca-Cola by 4,770.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 487 shares of the company’s stock valued at $29,000 after purchasing an additional 477 shares in the last quarter. Horan Securities Inc. acquired a new stake in Coca-Cola during the 4th quarter valued at $32,000. Finally, Leverty Financial Group LLC acquired a new stake in Coca-Cola during the 4th quarter valued at $35,000. 67.82% of the stock is currently owned by institutional investors and hedge funds.

About Coca-Cola (Get Rating)

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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