The Coca-Cola (NYSE:KO) had its target price boosted by equities researchers at Deutsche Bank from $52.00 to $53.00 in a report released on Wednesday. The brokerage presently has a “buy” rating on the stock. Deutsche Bank’s price objective would indicate a potential upside of 11.46% from the stock’s current price.
Other analysts have also recently issued reports about the company. Gabelli reissued a “hold” rating on shares of The Coca-Cola in a research report on Thursday, July 26th. Societe Generale set a $49.00 target price on The Coca-Cola and gave the company a “neutral” rating in a research report on Monday, August 13th. Jefferies Financial Group reissued a “neutral” rating and issued a $48.00 target price on shares of The Coca-Cola in a research report on Wednesday, August 22nd. Wells Fargo & Co reissued a “buy” rating and issued a $52.00 target price on shares of The Coca-Cola in a research report on Wednesday, September 5th. Finally, Bank of America reissued a “buy” rating and issued a $52.00 target price on shares of The Coca-Cola in a research report on Tuesday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $51.22.
Shares of NYSE KO traded down $0.19 during trading hours on Wednesday, reaching $47.55. The stock had a trading volume of 617,828 shares, compared to its average volume of 14,210,944. The stock has a market cap of $203.19 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 3.00 and a beta of 0.75. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.26. The Coca-Cola has a fifty-two week low of $41.45 and a fifty-two week high of $48.62.
The Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, October 30th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The firm had revenue of $8.25 billion during the quarter, compared to analysts’ expectations of $8.20 billion. The Coca-Cola had a return on equity of 43.12% and a net margin of 8.70%. The business’s revenue was down 9.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 EPS. Sell-side analysts anticipate that The Coca-Cola will post 2.07 earnings per share for the current year.
In other The Coca-Cola news, SVP James L. Dinkins sold 8,754 shares of the company’s stock in a transaction that occurred on Wednesday, October 24th. The stock was sold at an average price of $46.95, for a total transaction of $411,000.30. Following the completion of the sale, the senior vice president now directly owns 28,354 shares of the company’s stock, valued at approximately $1,331,220.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.48% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of KO. Principal Financial Group Inc. increased its stake in The Coca-Cola by 8.7% in the 1st quarter. Principal Financial Group Inc. now owns 8,128,273 shares of the company’s stock valued at $353,011,000 after purchasing an additional 648,091 shares in the last quarter. Summit Trail Advisors LLC increased its stake in The Coca-Cola by 18.8% in the 1st quarter. Summit Trail Advisors LLC now owns 31,569 shares of the company’s stock valued at $890,000 after purchasing an additional 5,001 shares in the last quarter. Clarus Wealth Advisors purchased a new position in The Coca-Cola in the 2nd quarter valued at approximately $101,000. New England Research & Management Inc. increased its stake in The Coca-Cola by 21.5% in the 2nd quarter. New England Research & Management Inc. now owns 15,973 shares of the company’s stock valued at $701,000 after purchasing an additional 2,830 shares in the last quarter. Finally, Gulf International Bank UK Ltd increased its stake in The Coca-Cola by 2.7% in the 2nd quarter. Gulf International Bank UK Ltd now owns 1,310,791 shares of the company’s stock valued at $57,491,000 after purchasing an additional 34,172 shares in the last quarter. 65.44% of the stock is owned by institutional investors and hedge funds.
About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plant?based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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