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

The Coca-Cola Company (NYSE:KO)’s share price was up 0.5% during trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $68.22 and last traded at $67.95. Approximately 6,340,819 shares changed hands during mid-day 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, topping 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 analysts have recently issued reports on the company. 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. UBS Group upped their target price on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley lifted their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a report on Thursday, February 6th. Finally, Evercore ISI lifted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.31.

Institutional Trading of Coca-Cola

A number of hedge funds have recently modified their holdings of the company. Harvest Portfolios Group Inc. acquired a new position in shares of Coca-Cola in the third quarter valued at $18,383,000. Balentine LLC increased its holdings in Coca-Cola by 92.4% in the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after buying an additional 13,685 shares during the period. Rice Partnership LLC increased its holdings in Coca-Cola by 7.1% in the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock valued at $6,397,000 after buying an additional 6,793 shares during the period. Sheaff Brock Investment Advisors LLC raised its stake in shares of Coca-Cola by 104.9% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock valued at $8,351,000 after buying an additional 59,503 shares in the last quarter. Finally, Fiduciary Alliance LLC lifted its holdings in shares of Coca-Cola by 87.7% during the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after acquiring an additional 8,499 shares during the period. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

The firm has a market capitalization of $296.08 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61. The firm’s 50-day moving average price is $62.63 and its two-hundred day moving average price is $66.32. 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 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.