Coca-Cola Stock Pops on Earnings Beat

Coca-Cola did see a drop in revenue, however

Digital Content Manager
Feb 10, 2021 at 9:45 AM
facebook X logo linkedin


Blue-chip name and beverage giant Coca-Cola Co (NYSE:KO) is getting a leg up this morning as investors react to the company's fourth-quarter results. Coca-Cola posted earnings that topped analysts estimates, while its revenue matched expectations. While KO did suffer a year-over-year drop in revenue, due to weak sales in restaurants, movie theaters and stadiums, it did note some improvement through some of the company's cost-cutting efforts, with its CEO projecting a return to "growth in the year ahead." At last check, KO is up 2.2% at $50.80. 

On the charts, KO has yet to recover from last year's pandemic-fueled plummet, with a steady year-long climb on the charts losing steam near the $54 level late last year. And while the security is still suffering a roughly 16% year-over-year deficit, it looks ready to topple several recently resistant trendlines, including the 140-day moving average. 

Analysts are split on the equity, with eight saying "strong buy" and seven calling it a tepid "hold." The 12-month consensus price target of $57.02, meanwhile, is a 12.2% premium to last night's close. 

Options traders have been overwhelmingly bullish ahead of KO's earnings event, however. The equity sports a 50-day call/put volume ratio of 5.2 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands higher than all other readings from the past year. This implies calls haven't been more popular during the past 10 weeks. 

Short sellers are hitting the exits as well. In the past two reporting periods, short interest dropped 20%. Now, the 19.95 million shares sold short represent less than 1% of KO's available float, or just over one day at its average daily pace of trading. 

 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI