Coca-Cola (NYSE:KO) Trading 1.9% Higher – Here’s What Happened

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

Analysts Set New Price Targets

KO has been the subject of several analyst reports. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Wednesday, January 8th. Evercore ISI boosted their price target on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Wells Fargo & Company boosted their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, Barclays boosted their target price 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 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $73.82.

Coca-Cola Stock Performance

The stock has a market capitalization of $308.03 billion, a P/E ratio of 28.97, a PEG ratio of 3.79 and a beta of 0.61. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The firm has a 50-day moving average of $63.54 and a 200 day moving average of $66.41.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping 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%. Research analysts anticipate 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 modified their holdings of the stock. Crowley Wealth Management Inc. acquired a new position in Coca-Cola in the fourth quarter valued at about $27,000. Mainstream Capital Management LLC bought a new position in shares of Coca-Cola in the fourth quarter valued at approximately $31,000. Hara Capital LLC acquired a new position in shares of Coca-Cola in the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Coca-Cola in the 3rd quarter worth approximately $36,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola during the 4th quarter valued at $37,000. 70.26% of the stock is owned by institutional investors and hedge funds.

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.