Equities analysts predict that The Coca-Cola Company (NYSE:KO) will post sales of $8.47 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for The Coca-Cola’s earnings. The highest sales estimate is $8.72 billion and the lowest is $8.15 billion. The Coca-Cola posted sales of $8.60 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.5%. The firm is expected to issue its next earnings report before the market opens on Monday, April 19th.
According to Zacks, analysts expect that The Coca-Cola will report full-year sales of $36.74 billion for the current financial year, with estimates ranging from $36.26 billion to $37.29 billion. For the next year, analysts forecast that the firm will report sales of $38.42 billion, with estimates ranging from $35.81 billion to $40.12 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for The Coca-Cola.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, February 9th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. The firm had revenue of $8.60 billion for the quarter, compared to the consensus estimate of $8.62 billion. The Coca-Cola had a net margin of 24.90% and a return on equity of 41.37%. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 EPS.
KO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. downgraded shares of The Coca-Cola from an “overweight” rating to a “neutral” rating and set a $55.00 price target on the stock. in a report on Thursday, January 7th. Morgan Stanley dropped their price objective on shares of The Coca-Cola from $59.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, January 14th. Royal Bank of Canada raised shares of The Coca-Cola from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $55.00 to $60.00 in a report on Monday, March 15th. Wolfe Research initiated coverage on shares of The Coca-Cola in a report on Monday, April 12th. They issued a “peer perform” rating on the stock. Finally, Sanford C. Bernstein initiated coverage on shares of The Coca-Cola in a report on Tuesday, January 19th. They issued an “outperform” rating and a $58.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $54.86.
In related news, insider Nikolaos Koumettis sold 60,000 shares of the business’s stock in a transaction on Monday, March 29th. The shares were sold at an average price of $53.30, for a total value of $3,198,000.00. Following the sale, the insider now owns 145,011 shares in the company, valued at $7,729,086.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alfredo Rivera sold 20,000 shares of the business’s stock in a transaction on Tuesday, March 9th. The stock was sold at an average price of $51.15, for a total transaction of $1,023,000.00. Following the completion of the sale, the insider now owns 62,000 shares in the company, valued at approximately $3,171,300. The disclosure for this sale can be found here. In the last quarter, insiders have sold 80,501 shares of company stock worth $4,246,280. Company insiders own 1.01% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. United Bank increased its position in The Coca-Cola by 26.0% during the third quarter. United Bank now owns 67,140 shares of the company’s stock valued at $3,315,000 after acquiring an additional 13,865 shares during the last quarter. Great West Life Assurance Co. Can increased its position in The Coca-Cola by 0.3% during the third quarter. Great West Life Assurance Co. Can now owns 3,744,579 shares of the company’s stock valued at $184,732,000 after acquiring an additional 11,183 shares during the last quarter. OLD Mission Capital LLC bought a new position in The Coca-Cola during the third quarter valued at $244,000. IHT Wealth Management LLC increased its position in The Coca-Cola by 18.2% during the third quarter. IHT Wealth Management LLC now owns 51,054 shares of the company’s stock valued at $2,521,000 after acquiring an additional 7,878 shares during the last quarter. Finally, Chiron Capital Management LLC bought a new position in The Coca-Cola during the third quarter valued at $316,000. Institutional investors own 65.99% of the company’s stock.
Shares of NYSE KO opened at $53.68 on Friday. The firm’s 50-day moving average price is $51.63 and its 200-day moving average price is $51.19. The company has a quick ratio of 1.01, a current ratio of 1.13 and a debt-to-equity ratio of 1.94. The company has a market cap of $231.32 billion, a PE ratio of 27.96, a PEG ratio of 5.70 and a beta of 0.58. The Coca-Cola has a 52-week low of $43.20 and a 52-week high of $54.93.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 1st. Stockholders of record on Monday, March 15th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, March 12th. This represents a $1.68 annualized dividend and a dividend yield of 3.13%. This is a boost from The Coca-Cola’s previous quarterly dividend of $0.41. The Coca-Cola’s dividend payout ratio (DPR) is presently 79.62%.
The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantÂ-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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