Coca-Cola (COKE, $330.66) to drop energy drink line in the US and Canada
Beverage behemoth Coca-Cola said that it’s dropping its energy-drink line in the U.S. and Canada -- less than 18 months after launching it.
Coca-Cola Energy began to be sold in January 2020. But Coke Energy accounted for only 0.7% of U.S. energy-drink sales as of Dec. 31, according to Beverage Digest. Coke will stop sales of Coke Energy in the U.S. and Canada by year-end, the company told The Wall Street Journal. However, it will still be sold overseas.
"Our strategy is focused on scaling big bets across a streamlined portfolio,” a company spokeswoman told Reuters. “As we scale our best innovations quickly and effectively like AHA and Coca-Cola with Coffee, we need to be disciplined with those that don't get the traction required for further investment.”
COKE sees MACD Histogram crosses below signal line
COKE saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on May 30, 2023. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 46 instances where the indicator turned negative. In of the 46 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .
Technical Analysis (Indicators)
Bearish Trend Analysis
The 10-day RSI Indicator for COKE moved out of overbought territory on May 31, 2023. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 39 similar instances where the indicator moved out of overbought territory. In of the 39 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 6 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where COKE declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
COKE broke above its upper Bollinger Band on May 04, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on May 19, 2023. You may want to consider a long position or call options on COKE as a result. In of 90 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where COKE advanced for three days, in of 343 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 267 cases where COKE Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Fundamental Analysis (Ratings)
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 70, placing this stock better than average.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. COKE’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (5.020) is normal, around the industry mean (58.772). P/E Ratio (13.661) is within average values for comparable stocks, (49.789). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (5.358). COKE has a moderately low Dividend Yield (0.002) as compared to the industry average of (0.030). P/S Ratio (0.976) is also within normal values, averaging (2.825).
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a producer of non-alcoholic beverages
Industry BeveragesNonAlcoholic
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COKE and
Correlation & Price change
A.I.dvisor indicates that over the last year, COKE has been loosely correlated with CCEP. These tickers have moved in lockstep 45% of the time. This A.I.-generated data suggests there is some statistical probability that if COKE jumps, then CCEP could also see price increases.
| Ticker / NAME | Correlation To COKE | 1D Price Change % | ||
|---|---|---|---|---|
| COKE | 100% | -1.02% | ||
| CCEP - COKE | 45% Loosely correlated | +0.50% | ||
| KO - COKE | 45% Loosely correlated | -0.20% | ||
| PEP - COKE | 44% Loosely correlated | +0.40% | ||
| MNST - COKE | 43% Loosely correlated | +1.49% | ||
| KDP - COKE | 40% Loosely correlated | +0.42% | ||
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