The Coca-Cola Company (NYSE:KO) Short Interest Down 11.6% in January

The Coca-Cola Company (NYSE:KO) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 29,590,000 shares, a drop of 11.6% from the January 15th total of 33,490,000 shares. Currently, 0.7% of the company’s stock are short sold. Based on an average daily volume of 17,330,000 shares, the short-interest ratio is presently 1.7 days.

Coca-Cola Stock Performance

Coca-Cola stock traded up $0.12 during midday trading on Tuesday, hitting $68.99. The company’s stock had a trading volume of 15,565,781 shares, compared to its average volume of 16,839,197. Coca-Cola has a 1-year low of $57.93 and a 1-year high of $73.53. 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 has a 50-day moving average price of $63.15 and a two-hundred day moving average price of $66.36. The company has a market cap of $297.19 billion, a price-to-earnings ratio of 28.51, a PEG ratio of 3.55 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share 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%. As a group, sell-side analysts predict that Coca-Cola will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on KO shares. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a research report on Thursday, February 6th. 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 research report on Tuesday, January 28th. Evercore ISI lifted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Barclays lifted their price objective on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, DZ Bank 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 research report on Thursday, February 13th. Two research 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $73.82.

Institutional Trading of Coca-Cola

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Crowley Wealth Management Inc. bought a new position in Coca-Cola in the 4th quarter valued at about $27,000. Hara Capital LLC bought a new position in Coca-Cola in the 3rd quarter valued at about $35,000. Mainstream Capital Management LLC bought a new position in Coca-Cola in the 4th quarter valued at about $31,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Coca-Cola in the 3rd quarter valued at about $36,000. Finally, MidAtlantic Capital Management Inc. bought a new position in Coca-Cola in the 3rd quarter valued at about $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

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.