Shares of the world's largest beverage maker Coca-Cola Company (NYSE:KO) recently hit their 52-week price high. But is it a good consumer defensive stock amid uncertainty associated with the continued spread of COVID-19 variants? 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. For the third quarter, its revenues and EPS beat analysts' expectations by 3.3% and 12.2%, respectively. The company also has a 59-year record of consistent dividend growth and offers a dividend yield of 2.89%.
JPMorgan (NYSE:JPM) recently upgraded KO to Overweight, with a $63 price target, up from $59. Credit Suisse (SIX:CSGN) Group set the same price target 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.