The Coca-Cola Co (NYSE:KO) – Analysts at Gabelli raised their FY2018 earnings estimates for The Coca-Cola in a research report issued on Tuesday. Gabelli analyst D. Witkowski now expects that the company will post earnings per share of $2.10 for the year, up from their prior forecast of $2.05. Gabelli also issued estimates for The Coca-Cola’s FY2019 earnings at $2.25 EPS, FY2020 earnings at $2.45 EPS, FY2021 earnings at $2.65 EPS and FY2022 earnings at $2.85 EPS.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Friday, February 16th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $7.51 billion for the quarter, compared to analysts’ expectations of $7.36 billion. The Coca-Cola had a return on equity of 38.36% and a net margin of 3.52%. The company’s quarterly revenue was down 20.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.37 EPS.
Several other research firms have also recently weighed in on KO. Susquehanna Bancshares set a $41.00 price objective on The Coca-Cola and gave the stock a “hold” rating in a research report on Wednesday, November 15th. Goldman Sachs Group set a $45.00 price target on The Coca-Cola and gave the stock a “sell” rating in a research report on Wednesday, November 15th. JPMorgan Chase & Co. set a $49.00 price target on The Coca-Cola and gave the stock a “neutral” rating in a research report on Thursday, November 16th. Wells Fargo & Co raised The Coca-Cola from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $46.72 to $51.00 in a research report on Tuesday, November 14th. Finally, Royal Bank of Canada set a $49.00 price target on The Coca-Cola and gave the stock a “buy” rating in a research report on Sunday, November 12th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $49.24.
The Coca-Cola (KO) traded up $0.39 during mid-day trading on Wednesday, reaching $43.73. The company’s stock had a trading volume of 6,210,960 shares, compared to its average volume of 13,810,749. The company has a quick ratio of 1.25, a current ratio of 1.34 and a debt-to-equity ratio of 1.64. The company has a market cap of $186,620.00, a PE ratio of 39.82, a price-to-earnings-growth ratio of 3.43 and a beta of 0.70. The Coca-Cola has a 1 year low of $41.58 and a 1 year high of $48.62.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.57%. This is a positive change from The Coca-Cola’s previous quarterly dividend of $0.37. The ex-dividend date is Wednesday, March 14th. The Coca-Cola’s dividend payout ratio is presently 134.55%.
In other news, CFO Kathy N. Waller sold 23,240 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $46.15, for a total transaction of $1,072,526.00. Following the sale, the chief financial officer now directly owns 123,796 shares of the company’s stock, valued at approximately $5,713,185.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert Edward Long sold 15,000 shares of the stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $47.95, for a total transaction of $719,250.00. Following the sale, the insider now directly owns 24,673 shares in the company, valued at $1,183,070.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 122,640 shares of company stock worth $5,800,776. 1.51% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of KO. Colonial Trust Advisors raised its position in shares of The Coca-Cola by 13.9% during the 4th quarter. Colonial Trust Advisors now owns 173,692 shares of the company’s stock worth $7,969,000 after purchasing an additional 21,138 shares during the last quarter. Cedar Hill Associates LLC raised its position in shares of The Coca-Cola by 9.6% during the 4th quarter. Cedar Hill Associates LLC now owns 18,605 shares of the company’s stock worth $853,000 after purchasing an additional 1,625 shares during the last quarter. Xact Kapitalforvaltning AB raised its position in shares of The Coca-Cola by 14.1% during the 4th quarter. Xact Kapitalforvaltning AB now owns 377,902 shares of the company’s stock worth $17,338,000 after purchasing an additional 46,672 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of The Coca-Cola by 8.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 783,646 shares of the company’s stock worth $35,951,000 after purchasing an additional 60,647 shares during the last quarter. Finally, CNB Bank acquired a new position in shares of The Coca-Cola during the 4th quarter worth about $1,501,000. 65.13% of the stock is currently owned by institutional investors and hedge funds.
About The Coca-Cola
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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