Coca-Cola (NYSE:KO) Trading 0.7% Higher – Here’s What Happened

The Coca-Cola Company (NYSE:KO) shares traded up 0.7% during trading on Friday . The stock traded as high as $63.84 and last traded at $63.79. 3,252,853 shares changed hands during trading, a decline of 78% from the average session volume of 15,127,275 shares. The stock had previously closed at $63.36.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KO. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. 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 report on Thursday, January 30th. UBS Group reduced their price target on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Morgan Stanley reduced their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Barclays dropped their price objective on Coca-Cola from $73.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.19.

Coca-Cola Stock 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 stock has a 50 day moving average of $62.54 and a 200 day moving average of $66.32. The company has a market capitalization of $275.03 billion, a price-to-earnings ratio of 26.38, a price-to-earnings-growth ratio of 3.56 and a beta of 0.61.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its holdings 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 purchasing an additional 11,569,920 shares in the last quarter. FMR LLC increased its position in shares of Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after acquiring an additional 11,206,995 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Coca-Cola in the 4th quarter worth about $500,192,000. Wellington Management Group LLP boosted its stake in Coca-Cola by 14.5% during the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after purchasing an additional 4,013,996 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Coca-Cola in the third quarter valued at approximately $269,382,000. 70.26% of the stock is 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.