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Is Coca-Cola a Good Consumer Defensive Stock to Buy? -Breaking

by Mike Robinson

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© Reuters Is Coca-Cola a Good Consumer Defensive Stock to Buy?

Coca-Cola Company’s shares recently exceeded their 52-week high. Is it an attractive stock for consumers to protect against the uncertainty from COVID-19? Let’s find out.The Coca-Cola Company (KO) in Atlanta, Ga., is currently trading 2% below its 52-week high of $58.92, which it hit on December 17. Analysts were surprised by the company’s revenues and EPS for the third quarter. They beat them both by 3.3% and 12.2%. A company record of continuous dividend growth of over 59 years is also available and yields a dividend of 2.899%.

JPMorgan (NYSE 🙂 upgraded KO to Overweight recently, and set a price target of $63 for the stock, up from $59. Credit Suisse (SIX 🙂 The same price target was set by the Group for the stock.

The stock has gained 4.8% in price over the past month and 13.7% over the past nine months to close yesterday’s trading session at $57.77. Furthermore, the company’s sales are expected to increase with the economy’s reopening. So, we think KO’s near-term prospects look bright.

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