Coca-Cola Reaches New Heights on Safety Trade Frenzy

Coca-Cola has reached an all-time high after investors rotated into blue-chip safety due to rising bond yields. The company's stock price closed at $91.10 on August 21, a day after touching $91.87.

The stock is up over 30% in 2026, with Coca-Cola setting two records: one for strong earnings and another for being a safe haven during market volatility. Its five-year beta of 0.34 means it barely moves with the market, making it an attractive defensive choice.

However, this attractiveness comes at a price, with Coca-Cola's valuation reaching a level where the math gets tight. The company trades at about 26.8x next-twelve-month earnings, a premium of roughly 60% over PepsiCo and more than double Keurig Dr Pepper.