Coca-Cola shares are up about 33% in 2026 on price alone, from $69.91 at year-end 2025 to about $93, putting the stock on pace for its best calendar-year gain since 1996. Among 11 earlier years since 1963 with gains of 30% or more, the stock rose again the next year in 10, with a median follow-up gain of about 20%, though the history is mixed and all those years came before 1997. Earnings are lagging the rally: trailing four-quarter adjusted EPS of about $3.23 is only about 8% above 2025's $3.00, so the stock trades near 29 times earnings versus about 23 at the end of 2025. The author would keep existing shares but would wait for a lower price or more earnings growth before buying, with third-quarter results due October 27 and management's 9% to 10% EPS growth target needing to hold.
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