The Coca-Cola Company (NYSE:KO) Stake Boosted by Deutsche Bank AG

by · The Cerbat Gem

Deutsche Bank AG increased its stake in The Coca-Cola Company (NYSE:KOFree Report) by 23.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,387,869 shares of the company’s stock after purchasing an additional 2,361,373 shares during the period. Deutsche Bank AG owned 0.29% of Coca-Cola worth $771,269,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Crowley Wealth Management Inc. bought a new position in shares of Coca-Cola in the fourth quarter valued at $27,000. Mainstream Capital Management LLC acquired a new stake in shares of Coca-Cola during the fourth quarter worth $31,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Coca-Cola during the fourth quarter valued at $38,000. Retirement Wealth Solutions LLC acquired a new position in shares of Coca-Cola in the 4th quarter valued at $37,000. Finally, Hoey Investments Inc. increased its stake in Coca-Cola by 41.9% in the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock worth $38,000 after purchasing an additional 181 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on KO. Wells Fargo & Company boosted their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Piper Sandler boosted their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Thursday, February 13th. Royal Bank of Canada raised their price objective on Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Finally, Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $75.59.

Check Out Our Latest Research Report on KO

Coca-Cola Price Performance

NYSE:KO opened at $72.42 on Thursday. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The firm has a fifty day simple moving average of $70.96 and a 200 day simple moving average of $66.63. The Coca-Cola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The stock has a market capitalization of $311.66 billion, a PE ratio of 29.32, a P/E/G ratio of 3.79 and a beta of 0.47.

Coca-Cola (NYSE:KOGet Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same period in the previous year, the firm earned $0.72 EPS. The firm’s revenue was down .7% compared to the same quarter last year. On average, research analysts expect that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.82%. Coca-Cola’s payout ratio is presently 81.60%.

Insider Transactions at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total transaction of $1,344,732.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Nikolaos Koumettis sold 54,708 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the transaction, the insider now owns 246,909 shares of the company’s stock, valued at $17,520,662.64. The trade was a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 313,423 shares of company stock valued at $22,263,071. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Profile

(Free Report)

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.

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