KO Shares Outshine NASX Amid Strong Q2 Earnings
The Coca-Cola Company (KO) has been outperforming the broader Nasdaq Composite ($NASX) in recent months. With a market cap of $385.8 billion, KO is considered a mega-cap stock, with a portfolio that spans sparkling soft drinks, water, sports drinks, coffee, tea, juice, dairy and plant-based beverages. Its shares have decreased 3.1% from their 52-week high of $92.49 but have still gained 11.5% over the past three months, outpacing NASX's 1.9% dip during the same period.
On a year-to-date basis, KO stock is up 28.3%, while NASX has returned 13.6%. Over the past 52 weeks, KO shares have increased 31.2%, compared to NASX's 21.6% surge over the same time frame. The company's strong performance has been driven by resilient demand for its trademark Coca-Cola and zero-sugar sodas, as well as World Cup hydration breaks boosting Powerade and energy-drink consumption.
Coca-Cola reported better-than-expected Q2 2026 comparable revenue growth of about 6% to $13.37 billion and adjusted EPS of $0.97, with the adjusted operating margin expanding to 35.6%. Analysts remain bullish on KO's prospects, with a consensus rating of 'Strong Buy' from 25 analysts in coverage and a mean price target of $95.52, which is a premium of 6.5% to current levels.
In comparison, KO stock has outperformed its rival PepsiCo, Inc. (PEP), which has decreased 1.7% on a YTD basis and 4% over the past 52 weeks.