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

Coca-Cola (NYSE:KO) had its target price upped by Deutsche Bank Aktiengesellschaft from $64.00 to $65.00 in a report released on Wednesday, Benzinga reports. The firm currently has a hold rating on the stock.

KO has been the subject of several other research reports. Argus upped their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a buy rating in a report on Wednesday, May 22nd. JPMorgan Chase & Co. upped their target price 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. Wells Fargo & Company upped their target price on shares of Coca-Cola from $70.00 to $73.00 and gave the stock an overweight rating in a report on Wednesday. UBS Group upped their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a buy rating in a report on Wednesday, May 1st. Finally, Morgan Stanley upped their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the stock an overweight rating in a report on Monday, June 10th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $70.20.

Coca-Cola Trading Up 1.5 %

NYSE:KO opened at $67.05 on Wednesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.86. The firm has a market capitalization of $288.85 billion, a price-to-earnings ratio of 26.82, a price-to-earnings-growth ratio of 3.75 and a beta of 0.59. Coca-Cola has a one year low of $51.55 and a one year high of $67.11. The business has a fifty day moving average price of $63.48 and a 200-day moving average price of $61.50.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. The firm had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. Coca-Cola’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 EPS. Sell-side analysts forecast that Coca-Cola will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend was Friday, June 14th. Coca-Cola’s payout ratio is 77.60%.

Insider Activity at Coca-Cola

In related news, EVP Beatriz R. Perez sold 57,298 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Beatriz R. Perez sold 57,298 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 19,304 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $14,507,516.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 841,588 shares of company stock valued at $568,972,027. Insiders own 0.97% of the company’s stock.

Institutional Trading of Coca-Cola

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Patrick M Sweeney & Associates Inc. purchased a new stake in Coca-Cola in the 4th quarter worth about $410,000. Beacon Pointe Advisors LLC raised its position in Coca-Cola by 24.7% in the 4th quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock worth $26,549,000 after purchasing an additional 89,139 shares during the period. Birchcreek Wealth Management LLC increased its position in shares of Coca-Cola by 12.6% during the fourth quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock worth $267,000 after acquiring an additional 507 shares during the period. Smart Money Group LLC increased its position in shares of Coca-Cola by 21.6% during the fourth quarter. Smart Money Group LLC now owns 4,932 shares of the company’s stock worth $291,000 after acquiring an additional 877 shares during the period. Finally, Hexagon Capital Partners LLC increased its position in shares of Coca-Cola by 13.4% during the fourth quarter. Hexagon Capital Partners LLC now owns 12,621 shares of the company’s stock worth $744,000 after acquiring an additional 1,495 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

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.