Wall Street analysts expect that The Coca-Cola Company (NYSE:KO) will report $9.40 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for The Coca-Cola’s earnings, with estimates ranging from $9.16 billion to $9.76 billion. The Coca-Cola reported sales of $7.15 billion during the same quarter last year, which indicates a positive year over year growth rate of 31.5%. The company is scheduled to report its next earnings results on Tuesday, July 20th.
On average, analysts expect that The Coca-Cola will report full-year sales of $37.03 billion for the current year, with estimates ranging from $36.72 billion to $37.40 billion. For the next financial year, analysts expect that the business will report sales of $39.33 billion, with estimates ranging from $38.56 billion to $40.18 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for The Coca-Cola.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Sunday, April 18th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.05. The company had revenue of $9 billion during the quarter, compared to analysts’ expectations of $8.58 billion. The Coca-Cola had a return on equity of 41.37% and a net margin of 24.90%. The Coca-Cola’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 EPS.
KO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. downgraded The Coca-Cola from an “overweight” rating to a “neutral” rating and set a $55.00 price target on the stock. in a research report on Thursday, January 7th. Credit Suisse Group reissued a “buy” rating and set a $60.00 price target on shares of The Coca-Cola in a research note on Wednesday, April 21st. Guggenheim downgraded The Coca-Cola from a “buy” rating to a “neutral” rating in a report on Tuesday, January 5th. Morgan Stanley upped their price objective on The Coca-Cola from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, April 26th. Finally, Royal Bank of Canada raised shares of The Coca-Cola from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $55.00 to $60.00 in a research report on Monday, March 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $57.69.
The Coca-Cola stock opened at $54.48 on Tuesday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.01 and a current ratio of 1.13. The business’s 50-day simple moving average is $52.90 and its two-hundred day simple moving average is $51.54. The company has a market cap of $234.90 billion, a PE ratio of 28.38, a PEG ratio of 5.70 and a beta of 0.58. The Coca-Cola has a fifty-two week low of $43.20 and a fifty-two week high of $54.93.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Stockholders of record on Tuesday, June 15th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Monday, June 14th. The Coca-Cola’s dividend payout ratio is presently 79.62%.
In related news, VP Kathy Loveless sold 501 shares of the business’s stock in a transaction that occurred on Friday, March 19th. The stock was sold at an average price of $50.46, for a total transaction of $25,280.46. Following the completion of the transaction, the vice president now directly owns 10,224 shares in the company, valued at approximately $515,903.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Nikolaos Koumettis sold 60,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 145,011 shares of the company’s stock, valued at $7,729,086.30. The disclosure for this sale can be found here. In the last three months, insiders sold 220,501 shares of company stock valued at $11,883,380. 1.01% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in The Coca-Cola by 16.3% in the fourth quarter. FMR LLC now owns 56,240,715 shares of the company’s stock valued at $3,084,241,000 after buying an additional 7,887,519 shares during the last quarter. Morgan Stanley raised its holdings in shares of The Coca-Cola by 7.5% in the 4th quarter. Morgan Stanley now owns 48,640,574 shares of the company’s stock valued at $2,667,449,000 after buying an additional 3,397,649 shares during the period. Norges Bank purchased a new stake in shares of The Coca-Cola in the 4th quarter valued at $2,345,618,000. Bank of New York Mellon Corp boosted its position in shares of The Coca-Cola by 10.6% during the 4th quarter. Bank of New York Mellon Corp now owns 39,835,440 shares of the company’s stock worth $2,184,577,000 after acquiring an additional 3,818,182 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in The Coca-Cola by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 37,883,047 shares of the company’s stock valued at $2,077,505,000 after acquiring an additional 1,995,835 shares during the last quarter. Institutional investors own 65.99% of the company’s stock.
About The Coca-Cola
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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