Coca-Cola Co (NYSE: KO) Loses -11.59% From High. Why That Could Change?

Currently, there are 4.31B common shares owned by the public and among those 4.27B shares have been available to trade.

The company’s stock has a 5-day price change of -2.85% and -4.54% over the past three months. KO shares are trading 10.32% year to date (YTD), with the 12-month market performance up to 15.18% higher. It has a 12-month low price of $56.06 and touched a high of $73.53 over the same period. KO has an average intraday trading volume of 14.05 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.94%, -7.45%, and 0.96% respectively.

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Institutional ownership of Coca-Cola Co (NYSE: KO) shares accounts for 72.74% of the company’s 4.31B shares outstanding.

It has a market capitalization of $278.76B and a beta (3y monthly) value of 0.62. The stock’s trailing 12-month PE ratio is 27.00, while the earnings-per-share (ttm) stands at $2.41. The company has a PEG of 4.93 and a Quick Ratio of 0.90 with the debt-to-equity ratio at 1.74. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.32% over the week and 1.40% over the month.

Earnings per share for the fiscal year are expected to increase by 6.10%, and 4.26% over the next financial year. EPS should shrink at an annualized rate of 5.48% over the next five years, compared to 10.53% over the past 5-year period.

Looking at the support for the KO, a number of firms have released research notes about the stock. Exane BNP Paribas stated their Outperform rating for the stock in a research note on June 24, 2024, with the firm’s price target at $72. Citigroup coverage for the Coca-Cola Co (KO) stock in a research note released on January 17, 2024 offered a Buy rating with a price target of $68. Jefferies was of a view on November 13, 2023 that the stock is Hold, while JP Morgan gave the stock Overweight rating on July 14, 2023, issuing a price target of $68- $67. Citigroup on their part issued Buy rating on February 17, 2023.

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