CocaCola (NYSE:KO) Price Target Raised to $77.00 at Barclays

Key Points

• Barclays has increased its price target for CocaCola (NYSE:KO) from $71 to $77, indicating an expected upside of 8.84% from the stock's current price and maintaining an "overweight" rating.
• Other brokerages, including Cowen and TD Cowen, have also set higher target prices for CocaCola, with TD Cowen raising its target from $75 to $80 and maintaining a "buy" rating.
• CocaCola's stock currently holds an average rating of "Buy" with a consensus target price of $78.31, as reported by MarketBeat, with a significant portion of the stock being owned by institutional investors (70.26%).

CocaCola (NYSE:KO - Get Free Report) had its target price boosted by investment analysts at Barclays from $71.00 to $77.00 in a report released on Thursday, MarketBeat reports. The brokerage presently has an "equal weight" rating on the stock. Barclays's price target would indicate a potential upside of 8.94% from the stock's current price.

KO has been the subject of several other research reports. UBS Group dropped their price target on shares of CocaCola from $84.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, September 11th. Wells Fargo & Company upped their price objective on CocaCola from $75.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday. Piper Sandler increased their target price on CocaCola from $80.00 to $81.00 and gave the stock an "overweight" rating in a report on Wednesday. Cowen reaffirmed a "buy" rating on shares of CocaCola in a research note on Wednesday. Finally, TD Cowen increased their price objective on CocaCola from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $78.31.

CocaCola Stock Performance

Shares of NYSE KO opened at $70.68 on Thursday. The firm has a market capitalization of $304.20 billion, a price-to-earnings ratio of 23.39, a PEG ratio of 3.71 and a beta of 0.43. CocaCola has a one year low of $60.62 and a one year high of $74.38. The business has a fifty day simple moving average of $67.81 and a 200 day simple moving average of $69.70. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 1.49.

CocaCola (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 45.63%. The firm had revenue of $11.40 billion for the quarter. Sell-side analysts expect that CocaCola will post 2.96 EPS for the current year.

Insiders Place Their Bets

In other news, insider Nikolaos Koumettis sold 37,396 shares of the company's stock in a transaction that occurred on 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 directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.97% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of KO. Norges Bank bought a new stake in shares of CocaCola during the second quarter worth $3,846,270,000. Nuveen LLC acquired a new stake in CocaCola in the first quarter worth about $1,508,657,000. Wellington Management Group LLP raised its stake in shares of CocaCola by 52.7% during the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company's stock worth $3,398,185,000 after buying an additional 16,383,870 shares during the last quarter. Boston Partners acquired a new position in CocaCola in the first quarter valued at approximately $642,183,000. Finally, Vanguard Group Inc. boosted its stake in CocaCola by 1.7% in the second quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company's stock valued at $25,996,519,000 after acquiring an additional 6,241,163 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

About CocaCola

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.