Coca-Cola (NYSE:KO) Stock Price Down 0.7% – What’s Next?

The Coca-Cola Company (NYSE:KO)’s share price dropped 0.7% during mid-day trading on Thursday . The company traded as low as $69.57 and last traded at $69.59. Approximately 2,263,675 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 16,364,490 shares. The stock had previously closed at $70.07.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Morgan Stanley increased their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. UBS Group raised their price target on shares of Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Barclays upped their price objective on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $73.82.

Coca-Cola Stock Performance

The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The stock has a market cap of $301.04 billion, a price-to-earnings ratio of 28.23, a P/E/G ratio of 3.74 and a beta of 0.61. The firm’s 50-day moving average is $63.42 and its two-hundred day moving average is $66.39.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. As a group, sell-side analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Institutional Trading of Coca-Cola

Several hedge funds have recently made changes to their positions in the company. Harvest Portfolios Group Inc. purchased a new position in Coca-Cola during the third quarter worth about $18,383,000. Balentine LLC boosted its position in shares of Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after purchasing an additional 13,685 shares during the period. Rice Partnership LLC increased its holdings in Coca-Cola by 7.1% in the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock valued at $6,397,000 after purchasing an additional 6,793 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its position in Coca-Cola by 104.9% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock valued at $8,351,000 after purchasing an additional 59,503 shares during the period. Finally, Fiduciary Alliance LLC lifted its stake in Coca-Cola by 87.7% during the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after purchasing an additional 8,499 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

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.