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

The Coca-Cola Company (NYSE:KO)’s stock price rose 0.5% during trading on Wednesday following a better than expected earnings announcement. The company traded as high as $68.22 and last traded at $67.95. Approximately 6,340,819 shares were traded 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 recently issued reports on the stock. Truist Financial upped their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, January 8th. Barclays decreased their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, January 17th. JPMorgan Chase & Co. decreased their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Piper Sandler reduced their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.94.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Harvest Portfolios Group Inc. bought a new stake in shares of Coca-Cola in the third quarter worth $18,383,000. Balentine LLC lifted its position in shares of Coca-Cola by 92.4% in the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after purchasing an additional 13,685 shares in the last quarter. Rice Partnership LLC lifted its position in shares of Coca-Cola by 7.1% in the fourth quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock worth $6,397,000 after purchasing an additional 6,793 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its position in Coca-Cola by 104.9% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after acquiring an additional 59,503 shares in the last quarter. Finally, Fiduciary Alliance LLC raised its position in Coca-Cola by 87.7% during the fourth 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 in the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

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 company’s 50-day simple moving average is $62.63 and its 200-day simple moving average is $66.32. The stock has a market capitalization of $292.80 billion, a P/E ratio of 28.08, 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.