Coca-Cola (NYSE:KO) Raised to “Buy” at DZ Bank

Coca-Cola (NYSE:KO) was upgraded by research analysts at DZ Bank from a “hold” rating to a “buy” rating in a report issued on Thursday, Marketbeat.com reports. The firm currently has a $75.00 price target on the stock. DZ Bank’s target price indicates a potential upside of 8.93% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. UBS Group increased their price objective on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday. Truist Financial increased their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a report on Thursday, February 6th. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. lowered their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average target price of $73.82.

Coca-Cola Stock Performance

Shares of KO opened at $68.85 on Thursday. The stock’s 50-day simple moving average is $62.90 and its 200 day simple moving average is $66.36. The stock has a market capitalization of $296.59 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. Coca-Cola has a 52-week low of $57.93 and a 52-week high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Research analysts forecast that Coca-Cola will post 2.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Coca-Cola

Several institutional investors have recently modified their holdings of the company. Crowley Wealth Management Inc. bought a new position in Coca-Cola during the 4th quarter worth approximately $27,000. Mainstream Capital Management LLC bought a new position in Coca-Cola during the 4th quarter worth approximately $31,000. Hara Capital LLC bought a new position in Coca-Cola during the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Coca-Cola during the 3rd quarter worth approximately $36,000. Finally, Retirement Wealth Solutions LLC bought a new position in Coca-Cola during the 4th quarter worth approximately $37,000. 70.26% of the stock is currently owned by institutional investors.

About Coca-Cola

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.