Coca-Cola (NYSE:KO) Shares Up 0.5% Following Strong Earnings

The Coca-Cola Company (NYSE:KO) shares were up 0.5% during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $68.22 and last traded at $67.95. Approximately 6,340,819 shares changed hands during trading, a decline of 60% from the average daily volume of 15,735,631 shares. The stock had previously closed at $67.60.

The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on KO shares. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Thursday. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday, January 8th. Barclays upped 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. Wells Fargo & Company upped their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $69.00 target price on shares of Coca-Cola in a research report on Thursday, February 6th. Two investment 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $73.82.

Hedge Funds Weigh In On Coca-Cola

Hedge funds have recently made changes to their positions in the business. Crowley Wealth Management Inc. acquired a new stake in Coca-Cola during the 4th quarter valued at $27,000. Mainstream Capital Management LLC acquired a new stake in Coca-Cola during the 4th quarter valued at $31,000. Hara Capital LLC acquired a new stake in Coca-Cola during the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola during the 3rd quarter valued at $36,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

The stock’s fifty day moving average is $62.76 and its two-hundred day moving average is $66.33. The firm has a market capitalization of $299.28 billion, a price-to-earnings ratio of 28.71, a price-to-earnings-growth 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.

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.