Coca-Cola Company (KO): Monthly Stock Report
Publication Date: September 22, 2024
Company Overview
Founded in 1886 and headquartered in Atlanta, Georgia, the Coca-Cola Company (KO) stands as a leader in the non-alcoholic beverage industry, categorized within the Consumer Defensive sector. The company is renowned for its diverse product range, producing an extensive line of beverages including sparkling soft drinks, juices, water, and coffee. With a robust network of independent bottling partners, distributors, and retailers, Coca-Cola effectively markets its iconic brands like Coca-Cola, Diet Coke, Sprite, and Dasani. As a publicly traded entity since 1957, Coca-Cola is recognized as a viable investment option in the Consumer Staples sector, thanks to its established market position and sustained product demand.
Current Market Position and Financial Health
The Coca-Cola Company currently trades at $71.64, with analysts projecting a target high price of $78.00—indicating a potential upside of approximately 8%. The stock’s price also hovers around a mean target of $71.51, suggesting stability in the coming months. In terms of revenue, Coca-Cola reported an impressive total of approximately $46.47 billion, showcasing resilience against competitive pressures in the beverage sector.
Notably, Coca-Cola has approximately 4.31 billion shares outstanding, with a modest short interest of around 39.14 million shares, reflecting a short percent of float of only 0.0092. This low short interest signals a general sentiment of confidence among investors regarding the company’s outlook. Furthermore, with a buy recommendation backed by 24 analysts and a consensus rating of 2.2, the outlook for Coca-Cola appears bullish, reinforcing the attractiveness of the stock amid fluctuating market conditions.
Performance Analysis and Investor Insights
Coca-Cola’s stock performance remains noteworthy, situated between a 52-week high of $73.53 and a low of $51.55. The fifty-day moving average stands at $68.96, indicating bullish momentum as the current stock price surpasses this average. This position reflects a solid recovery trend, attracting potential investor interest, particularly if it nears its annual peak. Overall, given Coca-Cola’s financial strength, low investor skepticism, and positive analyst sentiment, now is a recommended time to consider purchasing shares for those looking to enhance their portfolio in the Consumer Staples sector.
| Metric | Value |
|---|---|
| Market Cap | $308.8b |
| Total Debt | $45.1b |
| Total Cash | $19.0b |
| Shares Outstanding | 4.3b |
| Float Shares | 3.9b |
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