CocaCola (NYSE:KO) Price Target Raised to $80.00 at TD Cowen

Key Points

• TD Cowen has raised CocaCola's price target to $80.00, indicating a potential upside of 11.95% from its previous close, while maintaining a "buy" rating.
• Other analysts, including Wells Fargo and BNP Paribas, have increased their price targets as well, with CocaCola achieving a consensus price target of $78.00 among analysts.
• CocaCola's stock has shown strong performance, trading at $71.46 recently, with a market cap of $307.54 billion and a solid earnings report highlighting a per share earnings of $0.55.

CocaCola (NYSE:KO - Get Free Report) had its price target lifted by research analysts at TD Cowen from $75.00 to $80.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. TD Cowen's price target indicates a potential upside of 11.95% from the stock's previous close.

A number of other equities analysts have also recently issued reports on KO. Wells Fargo & Company raised their target price on CocaCola from $75.00 to $79.00 and gave the stock an "overweight" rating in a report on Wednesday. BNP Paribas reaffirmed an "outperform" rating and set a $83.00 price target on shares of CocaCola in a research report on Monday, July 21st. Evercore ISI reaffirmed an "outperform" rating on shares of CocaCola in a research report on Tuesday. Royal Bank Of Canada set a $76.00 price target on CocaCola and gave the stock an "outperform" rating in a research report on Monday, July 21st. Finally, JPMorgan Chase & Co. raised their price target on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company. According to data from MarketBeat.com, CocaCola has a consensus rating of "Buy" and a consensus price target of $78.00.

CocaCola Price Performance

Shares of KO stock traded up $0.24 during trading hours on Wednesday, hitting $71.46. 7,131,969 shares of the company's stock were exchanged, compared to its average volume of 16,789,609. The stock's 50-day moving average is $67.80 and its 200-day moving average is $69.70. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.21 and a quick ratio of 0.98. The stock has a market cap of $307.54 billion, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 3.57 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 posted its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. The business had revenue of $11.40 billion for the quarter. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. As a group, research analysts forecast that CocaCola will post 2.96 EPS for the current year.

Insider Transactions at CocaCola

In related news, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total value of $2,584,063.60. Following the sale, the insider owned 209,513 shares of the company's stock, valued at approximately $14,477,348.30. This trade represents a 15.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. New Republic Capital LLC boosted its stake in CocaCola by 1.6% in the 1st quarter. New Republic Capital LLC now owns 8,662 shares of the company's stock valued at $625,000 after purchasing an additional 139 shares during the period. Alteri Wealth LLC boosted its stake in CocaCola by 2.1% in the 1st quarter. Alteri Wealth LLC now owns 6,874 shares of the company's stock valued at $492,000 after purchasing an additional 140 shares during the period. Requisite Capital Management LLC boosted its stake in CocaCola by 2.8% in the 2nd quarter. Requisite Capital Management LLC now owns 5,285 shares of the company's stock valued at $377,000 after purchasing an additional 142 shares during the period. Deseret Mutual Benefit Administrators boosted its stake in CocaCola by 0.7% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 20,099 shares of the company's stock valued at $1,439,000 after purchasing an additional 143 shares during the period. Finally, MBA Advisors LLC boosted its stake in CocaCola by 1.2% in the 1st quarter. MBA Advisors LLC now owns 12,443 shares of the company's stock valued at $891,000 after purchasing an additional 143 shares during the period. 70.26% of the stock is currently owned by institutional investors.

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.

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