Coca-Cola (NYSE:KO) Stock Rating Upgraded by Deutsche Bank Aktiengesellschaft

Coca-Cola (NYSE:KO) was upgraded by investment analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a report released on Thursday,Briefing.com Automated Import reports. The brokerage presently has a $70.00 price objective on the stock, up from their prior price objective of $68.00. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 11.77% from the company’s current price.

A number of other analysts have also commented on KO. Barclays cut their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Wells Fargo & Company reduced their target price on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating for the company in a report on Monday, December 2nd. Morgan Stanley decreased their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Truist Financial boosted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $72.50.

Coca-Cola Trading Down 0.4 %

NYSE:KO opened at $62.63 on Thursday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The business’s 50-day simple moving average is $65.85 and its 200-day simple moving average is $66.62. Coca-Cola has a fifty-two week low of $57.47 and a fifty-two week high of $73.53. The stock has a market capitalization of $269.80 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 3.80 and a beta of 0.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. The business’s revenue was down .8% on a year-over-year basis. Sell-side analysts expect that Coca-Cola will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Coca-Cola

A number of institutional investors have recently made changes to their positions in the company. New Millennium Group LLC acquired a new position in shares of Coca-Cola in the second quarter valued at about $26,000. Quarry LP acquired a new position in shares of Coca-Cola during the 2nd quarter worth approximately $27,000. Hara Capital LLC bought a new position in shares of Coca-Cola during the third quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola in the third quarter valued at approximately $36,000. Finally, Mount Lucas Management LP bought a new stake in shares of Coca-Cola in the second quarter valued at approximately $38,000. Institutional investors 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.