The Coca-Cola (NYSE:KO) Sets New 1-Year High at $59.84

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The Coca-Cola Co (NYSE:KO)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $59.84 and last traded at $59.73, with a volume of 4151260 shares traded. The stock had previously closed at $59.41.

KO has been the subject of several recent research reports. UBS Group increased their price objective on The Coca-Cola from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Guggenheim set a $59.00 price objective on The Coca-Cola and gave the stock a “buy” rating in a report on Friday, October 18th. Credit Suisse Group upgraded The Coca-Cola from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $54.00 to $64.00 in a report on Thursday, January 9th. Bank of America increased their price objective on The Coca-Cola from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Finally, Evercore ISI reiterated a “buy” rating and set a $60.00 price objective on shares of The Coca-Cola in a report on Sunday, November 17th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $60.28.

The company has a quick ratio of 0.63, a current ratio of 0.76 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $256.86 billion, a price-to-earnings ratio of 28.96, a P/E/G ratio of 3.66 and a beta of 0.41. The company’s 50-day simple moving average is $56.94 and its 200 day simple moving average is $54.64.

The Coca-Cola (NYSE:KO) last posted its earnings results on Thursday, January 30th. The company reported $0.44 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. The firm had revenue of $9.10 billion for the quarter, compared to the consensus estimate of $8.88 billion. The Coca-Cola had a net margin of 24.38% and a return on equity of 44.39%. The business’s quarterly revenue was up 28.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share. On average, equities analysts expect that The Coca-Cola Co will post 2.26 earnings per share for the current fiscal year.

In other news, VP Larry M. Mark sold 90,289 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $54.93, for a total value of $4,959,574.77. Following the sale, the vice president now directly owns 93,474 shares of the company’s stock, valued at $5,134,526.82. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Nancy Quan sold 20,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $58.27, for a total value of $1,165,400.00. Following the completion of the sale, the senior vice president now directly owns 185,049 shares in the company, valued at $10,782,805.23. The disclosure for this sale can be found here. Insiders have sold 178,097 shares of company stock worth $9,887,839 over the last three months. Company insiders own 1.33% of the company’s stock.

Large investors have recently modified their holdings of the company. Corient Capital Partners LLC grew its position in shares of The Coca-Cola by 10.0% in the third quarter. Corient Capital Partners LLC now owns 131,791 shares of the company’s stock valued at $7,175,000 after purchasing an additional 11,966 shares during the last quarter. Bfsg LLC grew its position in The Coca-Cola by 4.2% during the third quarter. Bfsg LLC now owns 8,153 shares of the company’s stock worth $444,000 after buying an additional 328 shares in the last quarter. Contravisory Investment Management Inc. grew its position in The Coca-Cola by 1.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 78,030 shares of the company’s stock worth $4,319,000 after buying an additional 1,444 shares in the last quarter. Whittier Trust Co. grew its position in The Coca-Cola by 1.5% during the third quarter. Whittier Trust Co. now owns 253,185 shares of the company’s stock worth $13,781,000 after buying an additional 3,680 shares in the last quarter. Finally, Boston Advisors LLC grew its position in The Coca-Cola by 28.4% during the third quarter. Boston Advisors LLC now owns 144,782 shares of the company’s stock worth $7,882,000 after buying an additional 31,997 shares in the last quarter. 67.58% of the stock is currently owned by institutional investors.

About The Coca-Cola (NYSE:KO)

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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