Coca-Cola (NYSE:KO) Trading Up 0.7% - Time to Buy?

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

Wall Street Analysts Forecast Growth

KO has been the topic of several research reports. UBS Group cut their target price 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. TD Cowen raised Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price on the stock in a research report on Wednesday, January 8th. Morgan Stanley cut their target price on Coca-Cola from $78.00 to $76.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Truist Financial upped their target price on Coca-Cola from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group raised Coca-Cola from a "hold" rating to a "buy" rating and upped their target price for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. 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. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $72.19.

Coca-Cola Stock Performance

The firm's 50 day moving average price is $62.53 and its 200-day moving average price is $66.32. 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 firm has a market capitalization of $278.18 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 3.55 and a beta of 0.61.

Institutional Investors Weigh In On Coca-Cola

Hedge funds have recently modified their holdings of the company. Investment Advisory Group LLC lifted its stake in shares of Coca-Cola by 4.5% during the 3rd quarter. Investment Advisory Group LLC now owns 3,378 shares of the company's stock valued at $243,000 after buying an additional 146 shares in the last quarter. CCG Wealth Management LLC lifted its stake in shares of Coca-Cola by 4.3% during the 3rd quarter. CCG Wealth Management LLC now owns 3,614 shares of the company's stock valued at $260,000 after buying an additional 149 shares in the last quarter. Investment Partners Asset Management Inc. lifted its stake in shares of Coca-Cola by 2.2% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company's stock valued at $500,000 after buying an additional 150 shares in the last quarter. Blossom Wealth Management lifted its stake in shares of Coca-Cola by 3.3% during the 3rd quarter. Blossom Wealth Management now owns 4,890 shares of the company's stock valued at $351,000 after buying an additional 155 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL lifted its stake in shares of Coca-Cola by 1.6% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 9,993 shares of the company's stock valued at $718,000 after buying an additional 159 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other 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.