Coca-Cola (NYSE:KO) Shares Up 1.9% – What’s Next?

The Coca-Cola Company (NYSE:KO) rose 1.9% during mid-day trading on Friday . The stock traded as high as $71.52 and last traded at $71.38. Approximately 5,437,726 shares changed hands during trading, a decline of 67% from the average daily volume of 16,319,519 shares. The stock had previously closed at $70.04.

Analysts Set New Price Targets

Several research firms have weighed in on KO. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Thursday, February 13th. Jefferies Financial Group raised shares of 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. JPMorgan Chase & Co. reduced their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Morgan Stanley boosted their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, Barclays lifted their price target on shares of Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $73.82.

Coca-Cola Trading Up 2.1 %

The stock has a market cap of $308.03 billion, a price-to-earnings ratio of 28.97, a PEG ratio of 3.79 and a beta of 0.61. The business’s 50 day simple moving average is $63.54 and its 200 day simple moving average is $66.41. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. On average, research analysts expect that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Coca-Cola

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in Coca-Cola during the fourth quarter worth $3,402,151,000. Capital International Investors lifted its position in shares of Coca-Cola by 96.0% during the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock worth $1,553,337,000 after buying an additional 12,222,885 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Coca-Cola by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock valued at $4,617,400,000 after purchasing an additional 11,569,920 shares during the period. FMR LLC grew its position in Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after buying an additional 11,206,995 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Coca-Cola in the fourth quarter valued at $500,192,000. 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.