Coca-Cola (NYSE:KO) Stock Price Up 3.2% Following Earnings Beat

The Coca-Cola Company (NYSE:KO)’s share price rose 3.2% during trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $67.64 and last traded at $66.63. Approximately 13,380,909 shares changed hands during trading, a decline of 13% from the average daily volume of 15,428,464 shares. The stock had previously closed at $64.55.

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

A number of equities analysts have recently issued reports on KO shares. Truist Financial increased their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Piper Sandler lowered their target price 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. UBS Group lowered their price objective on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Wells Fargo & Company decreased their target price 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 7th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.19.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Mainstream Capital Management LLC bought a new position in Coca-Cola in the 4th quarter worth approximately $31,000. Hara Capital LLC bought a new position in shares of Coca-Cola in the third quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola in the third quarter valued at $36,000. Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola during the 4th quarter valued at $37,000. Finally, MilWealth Group LLC purchased a new stake in Coca-Cola during the 4th quarter worth about $40,000. 70.26% of the stock is owned by institutional investors.

Coca-Cola Trading Up 3.4 %

The firm has a 50 day simple moving average of $62.55 and a 200 day simple moving average of $66.31. The firm has a market cap of $287.51 billion, a P/E ratio of 27.60, a P/E/G ratio of 3.55 and a beta of 0.61. 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.