Coca-Cola (NYSE:KO) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Coca-Cola (NYSE:KO) had its price objective increased by analysts at Morgan Stanley from $76.00 to $78.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 12.27% from the stock’s previous close.

A number of other research analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Piper Sandler decreased their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company decreased their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. decreased their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $73.82.

Coca-Cola Price Performance

NYSE:KO opened at $69.48 on Wednesday. The business’s 50-day moving average price is $62.76 and its 200 day moving average price is $66.33. The firm has a market cap of $299.28 billion, a P/E ratio of 28.71, a PEG ratio of 3.55 and a beta of 0.61. Coca-Cola has a 52-week low of $57.93 and a 52-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 earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 Investors Weigh In On Coca-Cola

A number of institutional investors have recently bought and sold shares of the business. Harvest Portfolios Group Inc. acquired a new stake in shares of Coca-Cola during the 3rd quarter valued at about $18,383,000. Balentine LLC lifted its holdings in shares of Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after buying an additional 13,685 shares during the last quarter. Rice Partnership LLC lifted its holdings in shares of Coca-Cola by 7.1% during the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock valued at $6,397,000 after buying an additional 6,793 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its holdings in shares of Coca-Cola by 104.9% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock valued at $8,351,000 after buying an additional 59,503 shares during the last quarter. Finally, Fiduciary Alliance LLC lifted its holdings in shares of Coca-Cola by 87.7% during the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock valued at $1,132,000 after buying an additional 8,499 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

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.