Coca-Cola (NYSE:KO) Trading 0.1% Higher – What’s Next?

Shares of The Coca-Cola Company (NYSE:KO) traded up 0.1% on Tuesday . The stock traded as high as $69.09 and last traded at $68.93. 3,826,503 shares were traded during trading, a decline of 77% from the average session volume of 16,453,404 shares. The stock had previously closed at $68.87.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. JPMorgan Chase & Co. lowered their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, Piper Sandler decreased their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $73.82.

Coca-Cola Stock Up 0.2 %

The firm has a 50 day moving average of $63.15 and a two-hundred day moving average of $66.36. The firm has a market capitalization of $297.19 billion, a price-to-earnings ratio of 28.51, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Institutional Trading of Coca-Cola

A number of hedge funds have recently made changes to their positions in the company. FMR LLC boosted its stake in shares of 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 purchasing an additional 11,206,995 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Coca-Cola by 3.3% during the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after acquiring an additional 2,966,964 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Coca-Cola by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after acquiring an additional 11,569,920 shares during the last quarter. Norges Bank bought a new position in shares of Coca-Cola during the fourth quarter worth about $3,402,151,000. Finally, Northern Trust Corp raised its position in shares of Coca-Cola by 9.5% during the fourth quarter. Northern Trust Corp now owns 43,802,296 shares of the company’s stock worth $2,727,131,000 after acquiring an additional 3,811,756 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

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.