Morgan Stanley Raises Coca-Cola (NYSE:KO) Price Target to $78.00

Coca-Cola (NYSE:KO) had its target price hoisted by equities researchers at Morgan Stanley from $76.00 to $78.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 15.36% from the company’s previous close.

Several other analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Barclays lowered their price target on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $69.00 to $75.00 in a report on Thursday, January 30th. JPMorgan Chase & Co. dropped their target price 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. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.31.

Coca-Cola Price Performance

NYSE:KO opened at $67.61 on Wednesday. The company has a market capitalization of $291.27 billion, a P/E ratio of 27.94, a P/E/G ratio of 3.55 and a beta of 0.61. 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 has a 52 week low of $57.93 and a 52 week high of $73.53. The stock’s fifty day moving average is $62.63 and its two-hundred day moving average is $66.32.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. Equities analysts expect that Coca-Cola will post 2.85 EPS for the current year.

Institutional Investors Weigh In On Coca-Cola

Several hedge funds and other institutional investors have recently made changes to their positions in KO. Crowley Wealth Management Inc. purchased a new position in Coca-Cola in the fourth quarter valued at approximately $27,000. Mainstream Capital Management LLC acquired a new position in shares of Coca-Cola in the 4th quarter valued at $31,000. Hara Capital LLC purchased a new position in shares of Coca-Cola in the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola during the 3rd quarter worth $36,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in Coca-Cola in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

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.