The Coca-Cola (NYSE:KO) issued its quarterly earnings data on Tuesday. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02, MarketWatch Earnings reports. The Coca-Cola had a return on equity of 45.12% and a net margin of 20.91%. The firm had revenue of $8 billion for the quarter, compared to analyst estimates of $7.89 billion. During the same period in the prior year, the firm posted $0.47 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. The Coca-Cola updated its FY 2019 guidance to $2.06-2.10 EPS and its FY19 guidance to $2.05-2.10 EPS.
KO opened at $47.98 on Thursday. The firm has a market cap of $205.66 billion, a PE ratio of 23.07, a P/E/G ratio of 3.24 and a beta of 0.52. The Coca-Cola has a 52-week low of $41.45 and a 52-week high of $50.84. The company has a current ratio of 1.02, a quick ratio of 0.95 and a debt-to-equity ratio of 1.48.
The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a dividend of $0.40 per share. This is a positive change from The Coca-Cola’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend was Thursday, March 14th. The Coca-Cola’s dividend payout ratio is 76.92%.
In other news, SVP Beatriz R. Perez sold 10,000 shares of the stock in a transaction on Friday, February 1st. The stock was sold at an average price of $48.50, for a total transaction of $485,000.00. Following the sale, the senior vice president now directly owns 92,645 shares of the company’s stock, valued at approximately $4,493,282.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Beatriz R. Perez sold 21,742 shares of the stock in a transaction on Monday, February 4th. The stock was sold at an average price of $48.76, for a total value of $1,060,139.92. Following the sale, the insider now directly owns 92,645 shares in the company, valued at $4,517,370.20. The disclosure for this sale can be found here. Corporate insiders own 1.33% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in KO. Norges Bank acquired a new stake in The Coca-Cola in the fourth quarter valued at about $1,717,527,000. Oregon Public Employees Retirement Fund boosted its stake in The Coca-Cola by 4,577.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 19,634,956 shares of the company’s stock valued at $415,000 after buying an additional 19,215,135 shares in the last quarter. FMR LLC boosted its stake in The Coca-Cola by 22.2% in the fourth quarter. FMR LLC now owns 61,139,629 shares of the company’s stock valued at $2,894,961,000 after buying an additional 11,126,961 shares in the last quarter. BlackRock Inc. boosted its stake in The Coca-Cola by 2.9% in the fourth quarter. BlackRock Inc. now owns 253,865,694 shares of the company’s stock valued at $12,020,541,000 after buying an additional 7,272,015 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in The Coca-Cola by 10.8% in the fourth quarter. Geode Capital Management LLC now owns 46,561,672 shares of the company’s stock valued at $2,200,726,000 after buying an additional 4,528,987 shares in the last quarter. 67.86% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have commented on KO. UBS Group set a $52.00 price objective on The Coca-Cola and gave the company a “neutral” rating in a report on Wednesday. Zacks Investment Research raised The Coca-Cola from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Deutsche Bank upped their price objective on The Coca-Cola from $53.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $47.00 price objective on shares of The Coca-Cola in a report on Tuesday. Finally, Morgan Stanley upped their price objective on The Coca-Cola from $48.00 to $52.00 and gave the company an “equal weight” rating in a report on Wednesday. Sixteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $50.75.
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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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