Coca-Cola (NYSE:KO) Trading Up 0.4% – Should You Buy?

Shares of The Coca-Cola Company (NYSE:KO) shot up 0.4% during mid-day trading on Wednesday . The stock traded as high as $63.06 and last traded at $62.94. 2,948,053 shares changed hands during trading, a decline of 81% from the average session volume of 15,383,436 shares. The stock had previously closed at $62.67.

Wall Street Analyst Weigh In

Several research analysts have recently commented on KO shares. UBS Group lowered their target price on shares of Coca-Cola from $82.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Wednesday, January 8th. Piper Sandler decreased their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. JPMorgan Chase & Co. decreased their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, 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. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.19.

Coca-Cola Trading Up 0.8 %

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 market capitalization of $275.03 billion, a P/E ratio of 26.38, a P/E/G ratio of 3.56 and a beta of 0.61. The firm’s 50 day simple moving average is $62.54 and its two-hundred day simple moving average is $66.32.

Institutional Investors Weigh In On Coca-Cola

Several hedge funds and other institutional investors have recently bought and sold shares of KO. Charles Schwab Investment Management Inc. increased its position in shares of Coca-Cola by 18.5% during the fourth 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 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. bought a new stake in shares of Coca-Cola during the fourth quarter worth about $500,192,000. Wellington Management Group LLP grew its position in Coca-Cola by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after purchasing an additional 4,013,996 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Coca-Cola in the 3rd quarter worth about $269,382,000. 70.26% of the stock is owned by institutional investors.

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.