Wall Street brokerages expect The Coca-Cola Co (NYSE:KO) to post earnings per share of $0.62 for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for The Coca-Cola’s earnings, with estimates ranging from $0.61 to $0.63. The Coca-Cola posted earnings per share of $0.61 in the same quarter last year, which indicates a positive year over year growth rate of 1.6%. The business is expected to issue its next quarterly earnings report before the market opens on Tuesday, July 23rd.
According to Zacks, analysts expect that The Coca-Cola will report full year earnings of $2.09 per share for the current financial year, with EPS estimates ranging from $2.06 to $2.10. For the next financial year, analysts forecast that the business will report earnings of $2.26 per share, with EPS estimates ranging from $2.18 to $2.31. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for The Coca-Cola.
The Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. The Coca-Cola had a net margin of 20.91% and a return on equity of 45.12%. The firm had revenue of $8 billion for the quarter, compared to the consensus estimate of $7.89 billion. During the same period last year, the firm earned $0.47 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis.
Several equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Tuesday, June 4th. Barclays set a $54.00 price objective on shares of The Coca-Cola and gave the stock a “buy” rating in a research note on Thursday, May 16th. Morgan Stanley upgraded shares of The Coca-Cola from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $52.00 to $55.00 in a research note on Tuesday, May 14th. ValuEngine upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Finally, Deutsche Bank lifted their price objective on shares of The Coca-Cola from $53.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Thirteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $51.05.
Shares of NYSE KO traded down $0.03 during midday trading on Tuesday, reaching $51.89. 729,759 shares of the company’s stock traded hands, compared to its average volume of 11,838,650. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.02. The stock’s 50 day moving average is $49.92. The Coca-Cola has a one year low of $42.99 and a one year high of $52.20. The stock has a market cap of $221.45 billion, a P/E ratio of 24.93, a price-to-earnings-growth ratio of 3.53 and a beta of 0.50.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.08%. The Coca-Cola’s dividend payout ratio is currently 76.92%.
In other news, insider Jennifer K. Mann sold 9,000 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $51.88, for a total transaction of $466,920.00. Following the completion of the sale, the insider now owns 41,049 shares of the company’s stock, valued at $2,129,622.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Robert Edward Long sold 30,412 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $49.97, for a total transaction of $1,519,687.64. Following the sale, the senior vice president now directly owns 57,538 shares of the company’s stock, valued at approximately $2,875,173.86. The disclosure for this sale can be found here. Insiders have sold 316,600 shares of company stock valued at $15,760,365 in the last three months. Corporate insiders own 1.33% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in KO. BlackRock Inc. raised its stake in shares of The Coca-Cola by 2.9% in the 4th quarter. BlackRock Inc. now owns 253,865,694 shares of the company’s stock valued at $12,020,541,000 after acquiring an additional 7,272,015 shares during the period. FMR LLC increased its holdings in The Coca-Cola by 22.2% during the 4th quarter. FMR LLC now owns 61,139,629 shares of the company’s stock valued at $2,894,961,000 after acquiring an additional 11,126,961 shares in the last quarter. Northern Trust Corp increased its holdings in The Coca-Cola by 3.6% during the 4th quarter. Northern Trust Corp now owns 50,578,097 shares of the company’s stock valued at $2,394,872,000 after acquiring an additional 1,771,500 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of The Coca-Cola by 10.8% during the 4th quarter. Geode Capital Management LLC now owns 46,561,672 shares of the company’s stock worth $2,200,726,000 after purchasing an additional 4,528,987 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of The Coca-Cola in the fourth quarter worth approximately $1,717,527,000. 66.79% of the stock is owned by institutional investors and hedge funds.
About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantbased beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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