Coca-Cola (NYSE:KO) Rating Increased to Buy at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola (NYSE:KO) from a hold rating to a buy rating in a research report sent to investors on Thursday, MarketBeat reports. Deutsche Bank Aktiengesellschaft currently has $70.00 price target on the stock, up from their previous price target of $68.00.

Other equities analysts also recently issued research reports about the stock. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Truist Financial lifted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Morgan Stanley lowered their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Barclays reduced their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $72.50.

Coca-Cola Price Performance

Shares of KO opened at $63.84 on Thursday. The firm has a market cap of $275.01 billion, a PE ratio of 26.38, a P/E/G ratio of 3.81 and a beta of 0.61. Coca-Cola has a 1-year low of $57.47 and a 1-year high of $73.53. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm has a fifty day simple moving average of $65.55 and a two-hundred day simple moving average of $66.57.

Coca-Cola (NYSE:KO) last posted its 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 return on equity of 44.01% and a net margin of 22.45%. The company had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the prior year, the company earned $0.74 earnings per share. Coca-Cola’s revenue was down .8% on a year-over-year basis. On average, equities analysts anticipate that Coca-Cola will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.97% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coca-Cola

Several large investors have recently bought and sold shares of KO. Harvest Portfolios Group Inc. bought a new stake in shares of Coca-Cola in the 3rd quarter worth about $18,383,000. Balentine LLC grew its position in Coca-Cola by 92.4% in the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after acquiring an additional 13,685 shares in the last quarter. Sheaff Brock Investment Advisors LLC increased its stake in Coca-Cola by 104.9% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after acquiring an additional 59,503 shares during the last quarter. CIBC Asset Management Inc increased its stake in Coca-Cola by 5.8% during the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock worth $61,122,000 after acquiring an additional 46,541 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of Coca-Cola by 4.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock valued at $32,895,000 after purchasing an additional 21,005 shares during the last quarter. 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.