Coca-Cola (NYSE:KO) Upgraded at Deutsche Bank Aktiengesellschaft

Coca-Cola (NYSE:KO - Get Free Report) was upgraded by equities researchers at Deutsche Bank Aktiengesellschaft from a "hold" rating to a "buy" rating in a research note issued on Thursday, Marketbeat.com reports. The brokerage presently has a $70.00 price objective on the stock, up from their previous price objective of $68.00. Deutsche Bank Aktiengesellschaft's price target indicates a potential upside of 10.31% from the stock's previous close.

KO has been the subject of a number of other reports. Hsbc Global Res upgraded shares of Coca-Cola to a "strong-buy" rating in a report on Friday, September 27th. Cfra reiterated a "hold" rating on shares of Coca-Cola in a report on Thursday, September 5th. Wells Fargo & Company reduced their price objective 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. Truist Financial raised their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Finally, Barclays dropped their price target on shares of Coca-Cola from $74.00 to $73.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Coca-Cola has an average rating of "Moderate Buy" and a consensus target price of $72.50.

Coca-Cola Stock Up 1.3 %

NYSE:KO traded up $0.82 during trading hours on Thursday, reaching $63.46. The company had a trading volume of 8,224,519 shares, compared to its average volume of 13,810,863. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The firm has a market cap of $273.37 billion, a price-to-earnings ratio of 26.33, a P/E/G ratio of 3.80 and a beta of 0.61. The business's 50-day simple moving average is $65.68 and its two-hundred day simple moving average is $66.59. Coca-Cola has a twelve month low of $57.47 and a twelve month high of $73.53.

Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion during the quarter, compared to analysts' expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business's quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the company posted $0.74 earnings per share. On average, equities analysts expect that Coca-Cola will post 2.85 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the business's stock in a transaction that occurred on 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.97% of the company's stock.

Institutional Trading of Coca-Cola

Hedge funds and other institutional investors have recently modified their holdings of the business. Harvest Portfolios Group Inc. bought a new stake in shares of Coca-Cola in the third quarter valued at approximately $18,383,000. Balentine LLC raised its position in shares of Coca-Cola by 92.4% in the third quarter. Balentine LLC now owns 28,493 shares of the company's stock valued at $2,048,000 after purchasing an additional 13,685 shares during the period. Sheaff Brock Investment Advisors LLC grew 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 valued at $8,351,000 after acquiring an additional 59,503 shares in the last quarter. CIBC Asset Management Inc grew 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 valued at $61,122,000 after acquiring an additional 46,541 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Coca-Cola by 4.8% during the third quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company's stock valued at $32,895,000 after acquiring an additional 21,005 shares in 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.