Coca-Cola (NYSE:KO) Stock Price Up 0.5% Following Earnings Beat

The Coca-Cola Company (NYSE:KO) shares were up 0.5% on Wednesday following a stronger than expected earnings report. The stock traded as high as $68.22 and last traded at $67.95. Approximately 6,340,819 shares traded hands during trading, a decline of 60% from the average daily volume of 15,735,631 shares. The stock had previously closed at $67.60.

The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on KO shares. Barclays decreased their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a report on Thursday, February 6th. Piper Sandler decreased 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 note on Thursday, January 23rd. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Wednesday, January 8th. Finally, Truist Financial upped their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.94.

Institutional Trading of Coca-Cola

Large investors have recently modified their holdings of the stock. Redhawk Wealth Advisors Inc. lifted its holdings in shares of Coca-Cola by 41.3% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 8,464 shares of the company’s stock worth $608,000 after purchasing an additional 2,475 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its holdings in shares of Coca-Cola by 65.6% in the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 11,145 shares of the company’s stock worth $801,000 after purchasing an additional 4,415 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of Coca-Cola in the 3rd quarter worth $58,000. Fiduciary Alliance LLC lifted its holdings in shares of Coca-Cola by 35.6% in the 3rd quarter. Fiduciary Alliance LLC now owns 9,690 shares of the company’s stock worth $696,000 after purchasing an additional 2,542 shares in the last quarter. Finally, CX Institutional lifted its stake in Coca-Cola by 13.4% during the 3rd quarter. CX Institutional now owns 106,956 shares of the company’s stock valued at $7,686,000 after acquiring an additional 12,640 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Trading Up 0.5 %

The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The firm has a 50 day simple moving average of $62.63 and a two-hundred day simple moving average of $66.32. The firm has a market capitalization of $292.80 billion, a P/E ratio of 28.08, a PEG ratio of 3.55 and a beta of 0.61.

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.