Shares of The Coca-Cola Company (KO) reached an all-time high of $80.43. The stock continues to trade near its 52-week peak.
Investor confidence followed the announcement of the company's 64th consecutive annual dividend increase. Fourth-quarter earnings also surpassed consensus estimates.
UBS and TD Cowen raised their price targets for the stock, citing a positive growth outlook. Markets also signaled optimism regarding the upcoming leadership transition to CEO Henrique Braun.