Deutsche bank took its Coca-Cola [KO] rating to the equivalent of Hold from Buy, and the price target to $55.0, in a research note dated 2021-01-06. That figure represents around a 5.4% premium from where the company’s shares closed on Tuesday. Other analysts also revised their coverage, with RBC Capital Mkts’s analysts downgrading the shares from “an Outperform” rating to “a Sector perform” rating in a research note to investors issued in early January. Meanwhile, Wells Fargo had launched its coverage on KO with “an Overweight”, in a research note produced for clients December 08, 2020. In addition, there was an upgrade from Morgan Stanley on July 22, 2020. The rater changed KO from “an Equal-weight” to “an Overweight”.
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Is The Coca-Cola Company [NYSE:KO] a Good Buy Right Now?
It should be noted that KO technical indicators for short, intermediate as well as long term progress have placed an overall average of 56% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from The Coca-Cola Company’s Trend Spotter indicated that the signals were Weakest. The stock current average is 14.01 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 15.64 million shares while the medium term average advocated for 50% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 14.78 million shares.
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KO Price Performance
On Wall Street, The Coca-Cola Company [NYSE:KO] finished Tuesday’s session down -1.10% at $52.18. The stock went up to $52.62 at the same session while its lowest single day price was $52.03. In the last five days, it saw a fall of about -3.66%, The Coca-Cola Company shares dropped by almost -4.85% since the beginning of the year. However, the share price has dropped to as low as -13.22% below its one year high. On 01/04/21, the company shares recorded $54.63, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/05/21, the same year at $52.03. The company’s shares have declined by -4.55% in the past year. The 50-day SMA achieved is $52.29 while the 200-day SMA is $48.44. Volume dropped to 20.32 million from 25.61 million in the previous session.
The Coca-Cola Company [KO] Valuation Measures
Notably, The Coca-Cola Company [KO] stock cannot be classified as a good candidate in the listing of underestimated low-priced Beverages – Non-Alcoholic companies to purchase soonest possible with the prevailing 12-month PE ratio of 27.06. The measure means the stock is exchanging at a premium as compared to the 24.36x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 6.65 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 1.41 which means KO serve an unattractive investment opportunity compared to its competitors.
KO Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 51.93 level, and in case of violation of this particular level, it will cause more drop to 51.69 level. On the upper level, 52.87 is still the key resistance. The stock may increase to the subsequent resistance at 52.52. The Relative Strength Index (RSI) pinned on the 14-day chart is 43.52, implying a neutral technical stance while the MACD stands at -0.21, meaning price will decrease in the next trading period. Percent R indicator moved to 93.22%, implying bearish price movement. Stochastic %K at 43.39% suggest selling the stock.
What is the short interest in The Coca-Cola Company?
Short interest in The Coca-Cola Company stock has surged, increasing by 3.74 million shares to total 24.95 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 28.69 million, data from Yahoo Finance shows. The decrease of -14.99% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 0.59% of the overall float for the stock.
The Coca-Cola Company’s Biggest Shareholders: Who Owns The Coca-Cola Company [KO]?
Filings by Berkshire Hathaway, Inc. showed that the firm now holds a total of 400,000,000 shares or roughly 9.31% of the outstanding KO shares. This means their shares have reduced by 0 from the 400,000,000 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $15,356,162,993. Details in the latest 13F filings reveal that BlackRock Fund Advisors disposed off their -1.92% stake valued at $10,555,099,043 while SSgA Funds Management, Inc. cut theirs at $9,312,978,012. During the last quarter, BlackRock Fund Advisors liquidated -3,999,333 of its shares in The Coca-Cola Company while SSgA Funds Management, Inc. sold -3,814,823 shares. The Wellington Management Co. LLP’s holdings currently number 104,764,843 shares at $5466629507.74. According to the firm’s last 13F report, Geode Capital Management LLC shares in the company at filing stood at 55,512,875 shares, roughly $2,864,464,350.
KO Earnings Forecast For The Current Quarter
The Coca-Cola Company [KO] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $8.64B and an earnings per share of $0.41 for Dec 2020. Looking further ahead, the company is expected to report revenue of $8.62B at an EPS of $0.5 for Mar 2021. The estimates represent a downside of 10.60% and 11.60% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
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KO Earnings Estimates For The Current Year
For the financial year, The Coca-Cola Company [NYSE:KO] is expected to bring in revenue of $33.03B. The returns are nearly $-4.25 billion lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, the estimate put it at 1.89, lower than that of FY19 by -$0.22. Estimates put this year’s earnings growth at -10.40%, 11.60% for the next, and at an annual 2.77% over the next 5-year period. As for sales, forecasts are for a decrease of -11.40% in the current fiscal year and a further 10.60% over the following year.
