Wall Street analysts expect The Coca-Cola Co (NYSE:KO) to announce $8.24 billion in sales for the current quarter, according to Zacks. Four analysts have issued estimates for The Coca-Cola’s earnings, with estimates ranging from $8.14 billion to $8.51 billion. The Coca-Cola reported sales of $9.08 billion during the same quarter last year, which would suggest a negative year over year growth rate of 9.3%. The firm is expected to report its next quarterly earnings report on Wednesday, October 24th.
According to Zacks, analysts expect that The Coca-Cola will report full year sales of $32.00 billion for the current financial year, with estimates ranging from $31.59 billion to $32.79 billion. For the next financial year, analysts anticipate that the firm will post sales of $33.10 billion per share, with estimates ranging from $32.71 billion to $33.64 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for The Coca-Cola.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, July 25th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. The Coca-Cola had a return on equity of 40.68% and a net margin of 7.18%. The company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.54 billion. During the same quarter in the previous year, the business earned $0.59 EPS. The Coca-Cola’s revenue was down 8.3% compared to the same quarter last year.
KO has been the subject of a number of research analyst reports. HSBC reaffirmed a “buy” rating and set a $61.00 target price on shares of The Coca-Cola in a research report on Monday, August 20th. Morgan Stanley reaffirmed a “neutral” rating and set a $49.00 target price on shares of The Coca-Cola in a research report on Tuesday, August 21st. SunTrust Banks lifted their target price on The Coca-Cola to $55.00 and gave the company a “buy” rating in a research report on Thursday, July 26th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $50.00 target price on shares of The Coca-Cola in a research report on Thursday, July 26th. Finally, Jefferies Financial Group reaffirmed a “neutral” rating and set a $48.00 target price on shares of The Coca-Cola in a research report on Thursday, July 26th. Fourteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $50.28.
KO traded down $0.05 during trading hours on Wednesday, reaching $45.72. 10,174,456 shares of the company’s stock traded hands, compared to its average volume of 9,824,316. The Coca-Cola has a 52-week low of $41.45 and a 52-week high of $48.62. The company has a quick ratio of 1.06, a current ratio of 1.15 and a debt-to-equity ratio of 1.39. The stock has a market cap of $195.25 billion, a P/E ratio of 23.94, a PEG ratio of 2.82 and a beta of 0.74.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 14th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Thursday, September 13th. The Coca-Cola’s payout ratio is 81.68%.
In related news, VP Kathy N. Waller sold 48,354 shares of the business’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $46.45, for a total transaction of $2,246,043.30. Following the transaction, the vice president now directly owns 200,725 shares in the company, valued at approximately $9,323,676.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John Murphy sold 111,468 shares of the business’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $46.46, for a total value of $5,178,803.28. Following the transaction, the insider now owns 196,337 shares in the company, valued at $9,121,817.02. The disclosure for this sale can be found here. Over the last three months, insiders sold 215,822 shares of company stock valued at $10,027,727. Corporate insiders own 1.48% of the company’s stock.
A number of hedge funds have recently made changes to their positions in KO. Princeton Capital Management LLC purchased a new stake in The Coca-Cola during the 1st quarter valued at about $100,000. Clarus Wealth Advisors purchased a new stake in The Coca-Cola during the 2nd quarter valued at about $101,000. WP Advisors LLC purchased a new stake in The Coca-Cola during the 2nd quarter valued at about $107,000. Signature Estate & Investment Advisors LLC purchased a new stake in The Coca-Cola during the 2nd quarter valued at about $116,000. Finally, Fort L.P. purchased a new stake in The Coca-Cola during the 2nd quarter valued at about $122,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.
The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plant?based 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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