Coca-Cola (NYSE:KO) Trading Up 3.2% Following Strong Earnings

The Coca-Cola Company (NYSE:KO - Get Free Report)'s share price shot 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 changed hands during 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, 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

Several analysts recently commented on KO shares. TD Cowen upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target for the company in a report on Wednesday, January 8th. Jefferies Financial Group upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and raised their price target for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Royal Bank of Canada reiterated an "outperform" rating and issued a $69.00 target price on shares of Coca-Cola in a research note on Thursday, February 6th. JPMorgan Chase & Co. reduced 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 note on Tuesday, January 28th. Finally, DZ Bank upgraded shares of 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 Thursday. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Coca-Cola currently has a consensus rating of "Moderate Buy" and a consensus target price of $73.82.

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Hedge Funds Weigh In On Coca-Cola

A number of institutional investors and hedge funds have recently bought and sold shares of KO. Crowley Wealth Management Inc. bought a new stake in Coca-Cola in the 4th quarter valued at $27,000. Mainstream Capital Management LLC bought a new stake in Coca-Cola in the 4th quarter valued at $31,000. Hara Capital LLC bought a new stake in Coca-Cola in the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola in the 3rd quarter valued at $36,000. Finally, Retirement Wealth Solutions LLC bought a new stake in Coca-Cola in the 4th quarter valued at $37,000. Institutional investors own 70.26% of the company's stock.

Coca-Cola Price Performance

The stock has a market cap of $296.59 billion, a P/E ratio of 28.45, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61. 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 company's fifty day simple moving average is $62.90 and its 200-day simple moving average is $66.36.

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.