Wall Street brokerages expect The Coca-Cola Co (NYSE:KO) to post sales of $8.66 billion for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for The Coca-Cola’s earnings. The lowest sales estimate is $8.54 billion and the highest is $8.74 billion. The Coca-Cola posted sales of $9.70 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 10.7%. The firm is expected to issue its next earnings results on Wednesday, July 25th.
According to Zacks, analysts expect that The Coca-Cola will report full year sales of $31.96 billion for the current financial year, with estimates ranging from $31.41 billion to $32.39 billion. For the next year, analysts expect that the business will report sales of $33.12 billion per share, with estimates ranging from $32.34 billion to $33.64 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow The Coca-Cola.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, April 24th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. The firm had revenue of $7.60 billion during the quarter, compared to analyst estimates of $7.32 billion. The Coca-Cola had a return on equity of 39.54% and a net margin of 4.23%. The Coca-Cola’s revenue was down 16.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 EPS.
Several research analysts recently weighed in on the stock. Macquarie reaffirmed a “neutral” rating and issued a $47.00 target price on shares of The Coca-Cola in a report on Wednesday. Barclays raised shares of The Coca-Cola from an “equal weight” rating to an “overweight” rating and set a $48.00 target price for the company in a report on Thursday, May 17th. Zacks Investment Research downgraded shares of The Coca-Cola from a “buy” rating to a “hold” rating in a report on Thursday, April 26th. Societe Generale set a $46.50 target price on shares of The Coca-Cola and gave the stock a “neutral” rating in a report on Wednesday, April 25th. Finally, Morningstar set a $48.50 target price on shares of The Coca-Cola and gave the stock a “buy” rating in a report on Wednesday, February 28th. Thirteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $49.42.
Several institutional investors and hedge funds have recently added to or reduced their stakes in KO. Carillon Tower Advisers Inc. bought a new position in shares of The Coca-Cola in the 4th quarter valued at about $19,247,000. Virtu Financial LLC lifted its holdings in shares of The Coca-Cola by 402.4% in the 4th quarter. Virtu Financial LLC now owns 44,938 shares of the company’s stock valued at $2,062,000 after acquiring an additional 35,994 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of The Coca-Cola by 1.9% in the 1st quarter. BlackRock Inc. now owns 246,505,322 shares of the company’s stock valued at $10,705,725,000 after acquiring an additional 4,526,566 shares during the last quarter. State of Tennessee Treasury Department lifted its holdings in shares of The Coca-Cola by 8.8% in the 4th quarter. State of Tennessee Treasury Department now owns 1,682,097 shares of the company’s stock valued at $77,175,000 after acquiring an additional 135,896 shares during the last quarter. Finally, River & Mercantile Asset Management LLP lifted its holdings in shares of The Coca-Cola by 40.8% in the 4th quarter. River & Mercantile Asset Management LLP now owns 145,130 shares of the company’s stock valued at $6,668,000 after acquiring an additional 42,040 shares during the last quarter. 65.68% of the stock is owned by institutional investors and hedge funds.
The Coca-Cola stock traded up $0.54 during mid-day trading on Monday, hitting $44.12. The stock had a trading volume of 21,562,436 shares, compared to its average volume of 10,382,583. The company has a market capitalization of $185.91 billion, a P/E ratio of 23.10, a P/E/G ratio of 2.55 and a beta of 0.73. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.12 and a current ratio of 1.21. The Coca-Cola has a one year low of $41.45 and a one year high of $48.62.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 15th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend is Thursday, June 14th. The Coca-Cola’s dividend payout ratio (DPR) is presently 81.68%.
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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