Coca-Cola (NYSE:KO) Shares Up 3.2% After Better-Than-Expected Earnings

The Coca-Cola Company (NYSE:KO) shares traded up 3.2% during trading on Tuesday following a better than expected earnings announcement. The company traded as high as $67.64 and last traded at $66.63. 13,380,909 shares were traded during mid-day trading, a decline of 13% from the average session volume of 15,428,464 shares. The stock had previously closed at $64.55.

The company reported $0.55 earnings per share for the quarter, beating 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%.

Analyst Ratings Changes

Several brokerages recently issued reports on KO. JPMorgan Chase & Co. lowered their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Wednesday, January 8th. Piper Sandler reduced their price target 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. Truist Financial increased their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, UBS Group lifted their price objective on shares of Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $73.31.

Institutional Investors Weigh In On Coca-Cola

A number of institutional investors have recently made changes to their positions in KO. Landscape Capital Management L.L.C. grew its position in shares of Coca-Cola by 159.4% during the 4th quarter. Landscape Capital Management L.L.C. now owns 30,975 shares of the company’s stock valued at $1,929,000 after buying an additional 19,036 shares during the last quarter. Wescott Financial Advisory Group LLC boosted its stake in Coca-Cola by 9.8% in the fourth quarter. Wescott Financial Advisory Group LLC now owns 6,758 shares of the company’s stock valued at $421,000 after acquiring an additional 603 shares during the period. Conquis Financial LLC bought a new position in shares of Coca-Cola during the fourth quarter valued at approximately $90,000. Thoroughbred Financial Services LLC raised its position in shares of Coca-Cola by 3.4% during the 4th quarter. Thoroughbred Financial Services LLC now owns 39,947 shares of the company’s stock worth $2,487,000 after purchasing an additional 1,325 shares during the period. Finally, Yoffe Investment Management LLC bought a new stake in shares of Coca-Cola in the 4th quarter worth approximately $823,000. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Stock Up 1.7 %

The firm has a market cap of $296.08 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61. The stock has a 50-day moving average of $62.63 and a 200-day moving average of $66.32. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

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.