Deutsche Bank Initiates Coverage on The Coca-Cola (KO)
Deutsche Bank started coverage on shares of The Coca-Cola (NYSE:KO) in a research note released on Wednesday morning, Marketbeat reports. The firm issued a buy rating and a $52.00 price objective on the stock.
Several other equities research analysts have also recently issued reports on KO. Vetr raised shares of The Coca-Cola from a hold rating to a buy rating and set a $47.68 target price on the stock in a research report on Monday, December 11th. Cowen reissued a hold rating and issued a $42.00 target price on shares of The Coca-Cola in a research report on Thursday, September 28th. Macquarie assumed coverage on shares of The Coca-Cola in a research report on Friday, September 15th. They issued a neutral rating and a $47.00 target price on the stock. Zacks Investment Research raised shares of The Coca-Cola from a hold rating to a buy rating and set a $52.00 target price on the stock in a research report on Monday, October 16th. Finally, Jefferies Group set a $47.00 target price on shares of The Coca-Cola and gave the stock a neutral rating in a research report on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have issued a buy rating to the stock. The Coca-Cola has an average rating of Hold and a consensus price target of $48.01.
Shares of The Coca-Cola (NYSE:KO) opened at $46.19 on Wednesday. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.39 and a quick ratio of 1.30. The Coca-Cola has a 12-month low of $40.22 and a 12-month high of $47.48. The stock has a market cap of $196,778.91, a P/E ratio of 24.44, a P/E/G ratio of 3.95 and a beta of 0.70.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.48 dividend on an annualized basis and a yield of 3.20%. The Coca-Cola’s dividend payout ratio (DPR) is 140.95%.
In other news, insider J Alexander Douglas, Jr. sold 338,009 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $46.09, for a total transaction of $15,578,834.81. Following the transaction, the insider now directly owns 320,013 shares of the company’s stock, valued at $14,749,399.17. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.51% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of KO. Signature Estate & Investment Advisors LLC increased its stake in shares of The Coca-Cola by 5.0% in the first quarter. Signature Estate & Investment Advisors LLC now owns 2,725 shares of the company’s stock worth $116,000 after buying an additional 129 shares during the last quarter. Meeder Asset Management Inc. increased its stake in shares of The Coca-Cola by 59.4% in the second quarter. Meeder Asset Management Inc. now owns 2,754 shares of the company’s stock worth $124,000 after buying an additional 1,026 shares during the last quarter. Veritas Investment Management LLP bought a new stake in shares of The Coca-Cola in the third quarter worth $135,000. Spectrum Management Group Inc. bought a new stake in shares of The Coca-Cola in the third quarter worth $137,000. Finally, Eagle Ridge Investment Management bought a new stake in shares of The Coca-Cola in the second quarter worth $138,000. 65.38% of the stock is currently owned by institutional investors and hedge funds.
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About The Coca-Cola
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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