Deutsche Bank Aktiengesellschaft Raises Coca-Cola (NYSE:KO) Price Target to $65.00

Coca-Cola (NYSE:KO) had its price target upped by equities researchers at Deutsche Bank Aktiengesellschaft from $64.00 to $65.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential downside of 1.07% from the stock’s previous close.

KO has been the topic of a number of other research reports. Wells Fargo & Company boosted their price objective on Coca-Cola from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. StockNews.com downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Barclays increased their price target on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, Argus boosted their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.86.

Coca-Cola Price Performance

Shares of KO traded up $0.74 during trading hours on Wednesday, hitting $65.70. The stock had a trading volume of 4,917,850 shares, compared to its average volume of 12,806,820. The stock has a market capitalization of $283.03 billion, a price-to-earnings ratio of 26.20, a P/E/G ratio of 3.67 and a beta of 0.59. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.86. The company’s fifty day moving average is $63.29 and its two-hundred day moving average is $61.38. Coca-Cola has a 52 week low of $51.55 and a 52 week high of $66.04.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.03. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The firm had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, analysts anticipate that Coca-Cola will post 2.82 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total value of $1,253,987.84. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,507,516.80. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Monica Howard Douglas sold 8,874 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $63.31, for a total transaction of $561,812.94. Following the completion of the transaction, the executive vice president now directly owns 33,638 shares in the company, valued at $2,129,621.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total value of $1,253,987.84. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,507,516.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 841,588 shares of company stock worth $568,972,027. Company insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Patrick M Sweeney & Associates Inc. bought a new stake in Coca-Cola in the fourth quarter valued at approximately $410,000. Beacon Pointe Advisors LLC boosted its holdings in shares of Coca-Cola by 24.7% during the 4th quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock worth $26,549,000 after buying an additional 89,139 shares during the period. Birchcreek Wealth Management LLC raised its holdings in Coca-Cola by 12.6% in the 4th quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock valued at $267,000 after acquiring an additional 507 shares during the period. Smart Money Group LLC grew its position in shares of Coca-Cola by 21.6% in the fourth quarter. Smart Money Group LLC now owns 4,932 shares of the company’s stock valued at $291,000 after purchasing an additional 877 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its holdings in Coca-Cola by 13.4% in the 4th quarter. Hexagon Capital Partners LLC now owns 12,621 shares of the company’s stock valued at $744,000 after buying an additional 1,495 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

About Coca-Cola

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.