Credit Suisse Group Reiterates $68.00 Price Target for Coca-Cola (NYSE:KO)

Coca-Cola (NYSE:KOGet Rating) has been given a $68.00 price objective by research analysts at Credit Suisse Group in a research report issued on Friday, Borsen Zeitung reports. Credit Suisse Group’s price objective would indicate a potential upside of 5.41% from the company’s previous close.

Several other research analysts also recently commented on the company. Barclays set a $74.00 price objective on Coca-Cola in a report on Wednesday, April 27th. Evercore ISI raised their price objective on Coca-Cola from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, February 15th. Morgan Stanley raised their price objective on Coca-Cola from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday, February 8th. HSBC raised their price objective on Coca-Cola from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, April 26th. Finally, Citigroup lifted their price target on Coca-Cola from $65.00 to $68.00 and gave the company a “neutral” rating in a report on Tuesday, April 26th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $67.29.

Shares of KO stock opened at $64.51 on Friday. Coca-Cola has a 52-week low of $52.28 and a 52-week high of $67.20. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.18. The firm has a market capitalization of $279.65 billion, a P/E ratio of 27.11, a P/E/G ratio of 3.72 and a beta of 0.58. The stock has a 50 day moving average price of $62.78 and a 200 day moving average price of $60.05.

Coca-Cola (NYSE:KOGet Rating) last issued its quarterly earnings results on Monday, April 25th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.06. The firm had revenue of $10.50 billion during the quarter, compared to analyst estimates of $9.83 billion. Coca-Cola had a return on equity of 41.84% and a net margin of 25.69%. Coca-Cola’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period last year, the company earned $0.55 EPS. As a group, sell-side analysts forecast that Coca-Cola will post 2.47 EPS for the current year.

In other news, COO Brian John Smith sold 35,800 shares of the stock in a transaction on Monday, April 25th. The stock was sold at an average price of $67.04, for a total value of $2,400,032.00. Following the sale, the chief operating officer now directly owns 116,168 shares in the company, valued at $7,787,902.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Beatriz R. Perez sold 143,924 shares of the stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $64.78, for a total value of $9,323,396.72. Following the completion of the transaction, the senior vice president now directly owns 121,178 shares in the company, valued at approximately $7,849,910.84. The disclosure for this sale can be found here. Insiders have sold 667,137 shares of company stock worth $42,579,677 over the last 90 days. 0.98% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of the stock. KCM Investment Advisors LLC grew its holdings in shares of Coca-Cola by 4.6% during the third quarter. KCM Investment Advisors LLC now owns 53,822 shares of the company’s stock worth $2,824,000 after purchasing an additional 2,374 shares during the last quarter. BOKF NA purchased a new position in shares of Coca-Cola during the third quarter worth about $31,698,000. MD Financial Management Inc. grew its holdings in shares of Coca-Cola by 11.9% during the third quarter. MD Financial Management Inc. now owns 47,869 shares of the company’s stock worth $2,512,000 after purchasing an additional 5,077 shares during the last quarter. Banque Pictet & Cie SA grew its holdings in shares of Coca-Cola by 1.8% during the third quarter. Banque Pictet & Cie SA now owns 115,360 shares of the company’s stock worth $6,053,000 after purchasing an additional 2,000 shares during the last quarter. Finally, BerganKDV Wealth Management LLC grew its holdings in shares of Coca-Cola by 2.8% during the third quarter. BerganKDV Wealth Management LLC now owns 85,101 shares of the company’s stock worth $4,465,000 after purchasing an additional 2,306 shares during the last quarter. 68.51% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Company Profile (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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