Coca-Cola (NYSE:KO) Trading Up 3.2% After Strong Earnings

The Coca-Cola Company (NYSE:KO) shares shot up 3.2% during mid-day trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $67.64 and last traded at $66.63. 13,380,909 shares were traded during trading, a decline of 13% from the average session volume of 15,428,464 shares. The stock had previously closed at $64.55.

The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%.

Wall Street Analyst Weigh In

KO has been the topic of several recent analyst reports. Barclays cut 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. Wells Fargo & Company decreased their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. dropped their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Truist Financial lifted their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.19.

Hedge Funds Weigh In On Coca-Cola

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. acquired a new stake in shares of Coca-Cola during the fourth quarter worth $27,000. Hara Capital LLC bought a new stake in Coca-Cola during the 3rd quarter valued at $35,000. Mainstream Capital Management LLC acquired a new stake in Coca-Cola in the fourth quarter worth about $31,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola during the third quarter worth approximately $36,000. Finally, MidAtlantic Capital Management Inc. bought a new position in Coca-Cola during the 3rd quarter valued at $43,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Trading Up 4.7 %

The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The business has a fifty day moving average of $62.55 and a 200-day moving average of $66.31. The stock has a market capitalization of $291.27 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61.

Coca-Cola Company Profile

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.