Coca-Cola (NYSE:KO) Price Target Raised to $65.00

Coca-Cola (NYSE:KO) had its price target raised by analysts 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 target price suggests a potential downside of 1.07% from the company’s current price.

Other analysts have also recently issued research reports about the company. Wells Fargo & Company lifted their price target on Coca-Cola from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Wednesday. Argus boosted their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Bank of America increased their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Morgan Stanley lifted their target price on Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $69.86.

Coca-Cola Trading Up 1.1 %

Shares of NYSE KO traded up $0.74 during midday trading on Wednesday, reaching $65.70. 4,917,850 shares of the stock were exchanged, compared to its average volume of 12,806,820. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $283.03 billion, a P/E ratio of 26.20, a P/E/G ratio of 3.67 and a beta of 0.59. The stock has a 50 day moving average price of $63.29 and a 200-day moving average price of $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 results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The company had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. During the same period in the previous year, the firm posted $0.78 EPS. Coca-Cola’s revenue was up 3.3% on a year-over-year basis. Equities research analysts expect that Coca-Cola will post 2.82 earnings per share for the current fiscal year.

Insider Activity

In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total value of $3,551,903.02. Following the transaction, the executive vice president now owns 167,107 shares in the company, valued at approximately $10,358,962.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Coca-Cola news, EVP Monica Howard Douglas sold 8,874 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were 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 of the company’s stock, valued at approximately $2,129,621.78. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Beatriz R. Perez sold 57,298 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the sale, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The disclosure for this sale can be found here. Over the last three months, insiders sold 841,588 shares of company stock worth $568,972,027. 0.97% of the stock is currently owned by company insiders.

Institutional Trading of Coca-Cola

Several hedge funds and other institutional investors have recently bought and sold shares of KO. Joule Financial LLC lifted its stake in Coca-Cola by 3.6% during the second quarter. Joule Financial LLC now owns 4,867 shares of the company’s stock worth $312,000 after purchasing an additional 167 shares during the last quarter. Community Bank & Trust Waco Texas boosted its holdings in shares of Coca-Cola by 0.6% in the 1st quarter. Community Bank & Trust Waco Texas now owns 30,262 shares of the company’s stock valued at $1,851,000 after buying an additional 168 shares during the period. Goelzer Investment Management Inc. grew its position in shares of Coca-Cola by 1.8% during the 4th quarter. Goelzer Investment Management Inc. now owns 9,681 shares of the company’s stock valued at $571,000 after buying an additional 169 shares during the last quarter. Elk River Wealth Management LLC raised its stake in Coca-Cola by 1.6% during the fourth quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock worth $639,000 after acquiring an additional 170 shares during the period. Finally, KRS Capital Management LLC boosted its stake in Coca-Cola by 3.8% in the fourth quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock valued at $274,000 after acquiring an additional 170 shares during the period. 70.26% of the stock is 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.