Coca-Cola (NYSE:KO) Shares Gap Up Following Strong Earnings

The Coca-Cola Company (NYSE:KO)’s share price gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. 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, beating 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 Ratings Changes

Several analysts have issued reports on KO shares. Morgan Stanley cut their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 target price on shares of Coca-Cola in a research note on Thursday, February 6th. Barclays decreased their price objective on shares of Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Wells Fargo & Company cut 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 7th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $72.19.

Institutional Trading of Coca-Cola

Several large investors have recently bought and sold shares of the company. FMR LLC increased its stake in Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after buying an additional 11,206,995 shares during the period. Geode Capital Management LLC lifted its stake in shares of Coca-Cola by 3.3% in the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after buying an additional 2,966,964 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Coca-Cola by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after acquiring an additional 11,569,920 shares during the period. Wellington Management Group LLP boosted its stake in Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after buying an additional 4,013,996 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Coca-Cola by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock worth $1,990,407,000 after acquiring an additional 1,609,565 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Price Performance

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 moving average is $62.55 and its 200-day moving average is $66.31. The stock has a market cap of $287.47 billion, a price-to-earnings ratio of 27.65, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61.

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.