CocaCola (NYSE:KO) Given New $80.00 Price Target at UBS Group

Key Points

• UBS Group has lowered its price target for CocaCola from $84.00 to $80.00, indicating a potential upside of 17.52% from the current price, while maintaining a "buy" rating on the stock.
• Despite the price cut, CocaCola's stock remains favored, with 14 analysts rating it as a Buy and an average consensus price target of $76.93.
• CocaCola's recent quarterly earnings report showed an EPS of $0.87, exceeding expectations, while revenue for the quarter reached $12.50 billion with a 2.5% year-over-year increase.

CocaCola (NYSE:KO - Get Free Report) had its target price cut by equities research analysts at UBS Group from $84.00 to $80.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's price objective points to a potential upside of 17.52% from the stock's current price.

A number of other analysts also recently issued reports on KO. Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the company an "outperform" rating in a report on Monday, July 21st. BNP Paribas reissued an "outperform" rating and issued a $83.00 price objective on shares of CocaCola in a report on Monday, July 21st. JPMorgan Chase & Co. raised their price objective on shares of CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, Morgan Stanley reissued an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a report on Monday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $76.93.

CocaCola Stock Performance

Shares of NYSE KO traded up $0.26 during trading on Thursday, reaching $68.08. 3,312,620 shares of the company traded hands, compared to its average volume of 16,847,299. The firm has a 50 day simple moving average of $69.45 and a 200-day simple moving average of $70.42. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $292.97 billion, a PE ratio of 24.14, a P/E/G ratio of 3.53 and a beta of 0.43. CocaCola has a 52-week low of $60.62 and a 52-week high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. The firm had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $12.55 billion. CocaCola had a net margin of 25.89% and a return on equity of 44.91%. The business's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 EPS. CocaCola has set its FY 2025 guidance at 2.970-2.970 EPS. Equities research analysts anticipate that CocaCola will post 2.96 earnings per share for the current year.

Insiders Place Their Bets

In other CocaCola news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola 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 owned 209,513 shares of the company's stock, valued at $14,477,348.30. The trade was 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 available through the SEC website. 0.97% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CocaCola

Several large investors have recently added to or reduced their stakes in KO. Norges Bank purchased a new position in CocaCola during the second quarter valued at approximately $3,846,270,000. Nuveen LLC purchased a new position in shares of CocaCola in the first quarter worth $1,508,657,000. Wellington Management Group LLP lifted its holdings in shares of CocaCola by 52.7% in 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 in the last quarter. Boston Partners purchased a new position in shares of CocaCola in the first quarter worth $642,183,000. Finally, Vanguard Group Inc. lifted its holdings in shares of CocaCola by 1.7% in the second quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company's stock worth $25,996,519,000 after buying an additional 6,241,163 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

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.

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