Coca-Cola (NYSE:KO) Shares Up 0.1% – Here’s Why

The Coca-Cola Company (NYSE:KO) shares rose 0.1% during trading on Thursday . The stock traded as high as $63.74 and last traded at $63.17. Approximately 2,749,318 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 15,182,889 shares. The stock had previously closed at $63.12.

Analyst Ratings Changes

A number of brokerages recently weighed in on KO. UBS Group dropped their price objective on Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a research report on Thursday. TD Cowen 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 report on Wednesday, January 8th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Finally, Morgan Stanley decreased their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Two equities 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. According to data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and a consensus target price of $72.19.

Coca-Cola Trading Up 0.8 %

The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The company’s fifty day moving average is $62.53 and its two-hundred day moving average is $66.31. The company has a market cap of $275.03 billion, a price-to-earnings ratio of 26.38, a P/E/G ratio of 3.55 and a beta of 0.61.

Institutional Investors Weigh In On Coca-Cola

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mainstream Capital Management LLC acquired a new position in Coca-Cola in the fourth quarter valued at approximately $31,000. Hara Capital LLC acquired a new position in shares of Coca-Cola in the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Coca-Cola during the third quarter worth $36,000. Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola during the fourth quarter valued at $37,000. Finally, MilWealth Group LLC purchased a new position in Coca-Cola in the fourth quarter valued at $40,000. 70.26% of the stock is owned by institutional investors and hedge funds.

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.