Brokerages forecast that The Coca-Cola Co (NYSE:KO) will announce sales of $8.59 billion for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for The Coca-Cola’s earnings. The highest sales estimate is $8.74 billion and the lowest is $8.47 billion. The Coca-Cola posted sales of $9.70 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 11.4%. The firm is expected to report its next earnings report before the market opens on Wednesday, July 25th.
According to Zacks, analysts expect that The Coca-Cola will report full year sales of $31.81 billion for the current financial year, with estimates ranging from $31.06 billion to $32.39 billion. For the next financial year, analysts anticipate that the company will report sales of $32.76 billion per share, with estimates ranging from $31.03 billion to $33.64 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for The Coca-Cola.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, April 24th. The company reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.01. The business had revenue of $7.60 billion during the quarter, compared to analyst estimates of $7.32 billion. The Coca-Cola had a net margin of 4.23% and a return on equity of 39.54%. The company’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.43 EPS.
Several brokerages recently issued reports on KO. Barclays upgraded shares of The Coca-Cola from an “equal weight” rating to an “overweight” rating and set a $48.00 price target for the company in a research note on Thursday, May 17th. Zacks Investment Research lowered shares of The Coca-Cola from a “buy” rating to a “hold” rating in a research note on Thursday, April 26th. Societe Generale set a $46.50 price target on shares of The Coca-Cola and gave the stock a “neutral” rating in a research note on Wednesday, April 25th. Macquarie reiterated a “neutral” rating and issued a $47.00 price target on shares of The Coca-Cola in a research note on Wednesday, June 13th. Finally, Morningstar set a $49.00 price target on shares of The Coca-Cola and gave the stock a “buy” rating in a research note on Friday, May 18th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the company. The Coca-Cola presently has a consensus rating of “Hold” and a consensus target price of $49.42.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Avalon Advisors LLC boosted its holdings in shares of The Coca-Cola by 11.2% during the 1st quarter. Avalon Advisors LLC now owns 1,068,265 shares of the company’s stock valued at $46,395,000 after acquiring an additional 107,678 shares during the last quarter. Mount Yale Investment Advisors LLC purchased a new stake in shares of The Coca-Cola during the 1st quarter valued at about $724,000. Rikoon Group LLC boosted its holdings in shares of The Coca-Cola by 4.1% during the 1st quarter. Rikoon Group LLC now owns 87,678 shares of the company’s stock valued at $3,741,000 after acquiring an additional 3,489 shares during the last quarter. Private Vista LLC bought a new position in shares of The Coca-Cola in the 1st quarter worth approximately $252,000. Finally, Wealth Alliance Advisory Group LLC bought a new position in shares of The Coca-Cola in the 1st quarter worth approximately $302,000. 65.71% of the stock is currently owned by hedge funds and other institutional investors.
Shares of The Coca-Cola stock traded up $0.39 during trading on Thursday, hitting $43.86. The company’s stock had a trading volume of 11,485,550 shares, compared to its average volume of 12,446,398. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.21 and a quick ratio of 1.12. The firm has a market cap of $187.10 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 2.59 and a beta of 0.73. The Coca-Cola has a 52 week low of $41.45 and a 52 week high of $48.62.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Friday, June 15th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date is Thursday, June 14th. The Coca-Cola’s payout ratio 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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