Deutsche Bank Increases The Coca-Cola (NYSE:KO) Price Target to $54.00

The Coca-Cola (NYSE:KO) had its target price lifted by Deutsche Bank from $53.00 to $54.00 in a research note published on Wednesday, April 24th, BenzingaRatingsTable reports. Deutsche Bank currently has a buy rating on the stock.

KO has been the topic of several other reports. Zacks Investment Research raised The Coca-Cola from a hold rating to a buy rating and set a $53.00 target price on the stock in a report on Tuesday, January 8th. Royal Bank of Canada reissued a buy rating and set a $56.00 target price on shares of The Coca-Cola in a report on Wednesday, February 13th. JPMorgan Chase & Co. reissued a neutral rating and set a $51.00 target price on shares of The Coca-Cola in a report on Thursday, February 14th. Goldman Sachs Group reaffirmed a neutral rating and issued a $47.00 price objective on shares of The Coca-Cola in a research note on Thursday, February 14th. Finally, Citigroup lowered The Coca-Cola from a buy rating to a neutral rating and reduced their price objective for the company from $56.00 to $50.00 in a research note on Thursday, February 14th. Fourteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The Coca-Cola has an average rating of Hold and a consensus target price of $51.15.

Shares of NYSE:KO opened at $49.20 on Wednesday. The firm has a market capitalization of $209.80 billion, a PE ratio of 23.65, a PEG ratio of 3.31 and a beta of 0.53. The Coca-Cola has a 52 week low of $41.93 and a 52 week high of $50.84. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.02.

The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The Coca-Cola had a return on equity of 45.12% and a net margin of 20.91%. The company had revenue of $8 billion for the quarter, compared to analysts’ expectations of $7.89 billion. During the same quarter in the prior year, the business posted $0.47 EPS. The business’s revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts forecast that The Coca-Cola will post 2.1 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.40 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.60 dividend on an annualized basis and a yield of 3.25%. The Coca-Cola’s dividend payout ratio (DPR) is presently 76.92%.

In other The Coca-Cola news, insider Francisco Crespo sold 16,426 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $49.00, for a total value of $804,874.00. Following the sale, the insider now directly owns 77,109 shares in the company, valued at $3,778,341. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Bernhard Goepelt sold 13,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $48.96, for a total value of $636,480.00. Following the completion of the sale, the vice president now owns 151,504 shares in the company, valued at $7,417,635.84. The disclosure for this sale can be found here. Insiders sold 52,746 shares of company stock valued at $2,559,548 in the last three months. Insiders own 1.33% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp boosted its holdings in The Coca-Cola by 14.8% during the 4th quarter. Van ECK Associates Corp now owns 98,108 shares of the company’s stock valued at $4,645,000 after acquiring an additional 12,660 shares during the period. Northeast Investment Management boosted its holdings in The Coca-Cola by 4.4% during the 4th quarter. Northeast Investment Management now owns 42,961 shares of the company’s stock valued at $2,034,000 after acquiring an additional 1,818 shares during the period. Berman Capital Advisors LLC boosted its holdings in The Coca-Cola by 40.4% during the 4th quarter. Berman Capital Advisors LLC now owns 13,429 shares of the company’s stock valued at $635,000 after acquiring an additional 3,865 shares during the period. GSA Capital Partners LLP bought a new position in The Coca-Cola during the 4th quarter valued at approximately $234,000. Finally, CX Institutional bought a new position in The Coca-Cola during the 4th quarter valued at approximately $928,000. Hedge funds and other institutional investors own 67.99% of the company’s stock.

About The Coca-Cola

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; 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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Analyst Recommendations for The Coca-Cola (NYSE:KO)

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