Short Interest in The Coca-Cola Company (NYSE:KO) Declines By 5.3%

The Coca-Cola Company (NYSE:KO) was the target of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 32,920,000 shares, a decline of 5.3% from the December 15th total of 34,770,000 shares. Based on an average daily trading volume, of 16,210,000 shares, the short-interest ratio is presently 2.0 days. Currently, 0.8% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

KO has been the subject of several research reports. Piper Sandler initiated coverage on shares of Coca-Cola in a research note on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price objective for the company. Barclays lowered their price target on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday. 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. Morgan Stanley lowered their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, UBS Group dropped their target price on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $72.13.

Coca-Cola Stock Up 0.8 %

Shares of NYSE KO opened at $62.76 on Tuesday. Coca-Cola has a 52-week low of $57.93 and a 52-week high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The company’s 50-day simple moving average is $62.69 and its 200-day simple moving average is $66.45. The firm has a market cap of $270.34 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 3.35 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 EPS. Equities analysts predict that Coca-Cola will post 2.85 EPS for the current fiscal year.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Coca-Cola

Large investors have recently made changes to their positions in the stock. Quarry LP purchased a new stake in shares of Coca-Cola during the 2nd quarter valued at approximately $27,000. Hara Capital LLC acquired a new position in Coca-Cola during the third quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola during the third quarter worth $36,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at $37,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in Coca-Cola during the 3rd quarter worth about $43,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

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.