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

The Coca-Cola Company (NYSE:KO) gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $64.55, but opened at $67.50. Coca-Cola shares last traded at $66.93, with a volume of 6,052,501 shares traded.

The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. UBS Group boosted their price target on Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, Morgan Stanley boosted their price target on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and an average price target of $73.31.

Hedge Funds Weigh In On Coca-Cola

A number of institutional investors have recently modified their holdings of KO. CCG Wealth Management LLC raised its position in Coca-Cola by 4.3% during the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock valued at $260,000 after purchasing an additional 149 shares during the last quarter. Investment Partners Asset Management Inc. raised its position in Coca-Cola by 2.2% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after purchasing an additional 150 shares during the last quarter. Blossom Wealth Management raised its position in shares of Coca-Cola by 3.3% in the 3rd quarter. Blossom Wealth Management now owns 4,890 shares of the company’s stock worth $351,000 after acquiring an additional 155 shares in the last quarter. Strategic Investment Solutions Inc. IL raised its position in shares of Coca-Cola by 1.6% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 9,993 shares of the company’s stock worth $718,000 after acquiring an additional 159 shares in the last quarter. Finally, DeDora Capital Inc. raised its position in shares of Coca-Cola by 3.4% in the 3rd quarter. DeDora Capital Inc. now owns 4,902 shares of the company’s stock worth $352,000 after acquiring an additional 160 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Price Performance

The stock has a market cap of $296.08 billion, a P/E ratio of 28.40, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61. The firm has a 50-day moving average price of $62.63 and a 200-day moving average price of $66.32. 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.