The Coca-Cola Company (NYSE:KO) Sees Large Drop in Short Interest

The Coca-Cola Company (NYSE:KO - Get Free Report) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 29,590,000 shares, a drop of 11.6% from the January 15th total of 33,490,000 shares. Based on an average daily volume of 17,330,000 shares, the short-interest ratio is currently 1.7 days. Approximately 0.7% of the company's stock are sold short.

Coca-Cola Stock Performance

KO stock traded down $0.04 on Thursday, hitting $70.03. The company had a trading volume of 13,383,715 shares, compared to its average volume of 16,710,135. Coca-Cola has a 12-month low of $57.93 and a 12-month high of $73.53. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The stock's 50-day simple moving average is $63.54 and its 200 day simple moving average is $66.41. The stock has a market cap of $301.69 billion, a price-to-earnings ratio of 28.35, a P/E/G ratio of 3.74 and a beta of 0.61.

Coca-Cola (NYSE:KO - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. As a group, equities research analysts expect that Coca-Cola will post 2.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on KO. Wells Fargo & Company raised their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. decreased 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. Jefferies Financial Group raised shares of Coca-Cola from a "hold" rating to a "buy" rating and raised their target price for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. DZ Bank raised 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, February 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and increased their price target for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $73.82.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Crowley Wealth Management Inc. bought a new position in Coca-Cola in the fourth quarter worth approximately $27,000. Mainstream Capital Management LLC bought a new position in Coca-Cola in the fourth quarter worth approximately $31,000. Hara Capital LLC bought a new position in Coca-Cola in the third quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Coca-Cola in the third quarter worth approximately $36,000. Finally, Retirement Wealth Solutions LLC bought a new position in Coca-Cola in the fourth quarter worth approximately $37,000. 70.26% of the stock is currently owned by 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.