Coca-Cola (NYSE:KO) Shares Gap Up After Earnings Beat

Shares of The Coca-Cola Company (NYSE:KO) gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $64.55, but opened at $67.50. Coca-Cola shares last traded at $66.93, with a volume of 6,052,501 shares traded.

The company reported $0.55 EPS for the quarter, topping 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%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Truist Financial lifted their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Piper Sandler dropped their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Finally, Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus price target of $72.19.

Institutional Investors Weigh In On Coca-Cola

Several large investors have recently bought and sold shares of KO. Crowley Wealth Management Inc. acquired a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $27,000. Mainstream Capital Management LLC acquired a new position in Coca-Cola in the 4th quarter valued at about $31,000. Hara Capital LLC acquired a new stake in shares of Coca-Cola during the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Coca-Cola in the third quarter valued at $36,000. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Coca-Cola in the 4th quarter valued at $37,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Trading Up 4.7 %

The business has a fifty day moving average price of $62.55 and a two-hundred day moving average price of $66.31. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $291.27 billion, a PE ratio of 27.94, a PEG 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.