The Coca-Cola Company (NYSE:KO) Sees Large Drop in Short Interest

The Coca-Cola Company (NYSE:KO) was the recipient of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 29,590,000 shares, a decrease of 11.6% from the January 15th total of 33,490,000 shares. Based on an average daily trading volume, of 17,330,000 shares, the days-to-cover ratio is currently 1.7 days. Currently, 0.7% of the company’s shares are sold short.

Institutional Trading of Coca-Cola

A number of hedge funds have recently modified their holdings of the stock. Crowley Wealth Management Inc. acquired a new stake in shares of Coca-Cola during the 4th quarter valued at about $27,000. Mainstream Capital Management LLC purchased a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $31,000. Hara Capital LLC purchased a new stake in shares of Coca-Cola in the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola during the 3rd quarter valued at approximately $36,000. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Coca-Cola during the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.2 %

Shares of KO stock traded up $0.12 during trading hours on Tuesday, reaching $68.99. 15,565,781 shares of the company’s stock were exchanged, compared to its average volume of 16,839,197. Coca-Cola has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The company has a market cap of $297.19 billion, a price-to-earnings ratio of 28.51, a P/E/G ratio of 3.55 and a beta of 0.61. The stock’s 50 day moving average is $63.15 and its 200-day moving average is $66.36.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Analysts predict that Coca-Cola will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

KO has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their price objective 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. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Morgan Stanley boosted their price objective 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. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 target price on shares of Coca-Cola in a research note on Thursday, February 6th. Finally, Evercore ISI lifted their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $73.82.

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.