Evercore ISI Increases Coca-Cola (NYSE:KO) Price Target to $70.00

Coca-Cola (NYSE:KO) had its target price upped by analysts at Evercore ISI from $67.00 to $70.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s price target would suggest a potential upside of 13.42% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. decreased their target price on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. Citigroup increased their price objective on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, Barclays boosted their target price on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $67.80.

Coca-Cola Stock Down 0.1 %

NYSE:KO traded down $0.05 during mid-day trading on Wednesday, reaching $61.72. The company’s stock had a trading volume of 3,092,831 shares, compared to its average volume of 13,919,048. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29. Coca-Cola has a 1 year low of $51.55 and a 1 year high of $64.25. The stock has a fifty day moving average of $60.19 and a 200-day moving average of $59.02. The firm has a market capitalization of $266.09 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 3.54 and a beta of 0.59.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The business had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same quarter in the previous year, the business posted $0.68 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts forecast that Coca-Cola will post 2.81 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 323,107 shares of company stock valued at $19,657,742. 0.97% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of KO. Tidemark LLC purchased a new stake in shares of Coca-Cola during the 4th quarter worth about $26,000. Redmont Wealth Advisors LLC acquired a new position in Coca-Cola in the 1st quarter worth about $28,000. Private Wealth Management Group LLC purchased a new position in Coca-Cola during the fourth quarter worth approximately $27,000. ZRC Wealth Management LLC grew its holdings in Coca-Cola by 213.3% in the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares during the period. Finally, Criterion Capital Advisors LLC purchased a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $30,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

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.