Analysts expect The Coca-Cola Co (NYSE:KO) to post sales of $7.28 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for The Coca-Cola’s earnings, with the lowest sales estimate coming in at $6.93 billion and the highest estimate coming in at $7.75 billion. The Coca-Cola reported sales of $7.51 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 3.1%. The business is scheduled to announce its next earnings report on Friday, February 15th.
According to Zacks, analysts expect that The Coca-Cola will report full year sales of $32.00 billion for the current year, with estimates ranging from $31.65 billion to $32.79 billion. For the next financial year, analysts anticipate that the company will post sales of $33.30 billion, with estimates ranging from $32.45 billion to $34.05 billion. Zacks’ sales averages are an average based on a survey of research analysts that cover The Coca-Cola.
The Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, October 30th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.03. The company had revenue of $8.25 billion for the quarter, compared to analysts’ expectations of $8.20 billion. The Coca-Cola had a return on equity of 43.12% and a net margin of 8.70%. The Coca-Cola’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 earnings per share.
Several research analysts recently issued reports on the company. HSBC set a $61.00 target price on The Coca-Cola and gave the company a “buy” rating in a research report on Thursday, September 27th. Jefferies Financial Group set a $48.00 target price on The Coca-Cola and gave the company a “neutral” rating in a research report on Thursday, September 6th. Morgan Stanley set a $49.00 target price on The Coca-Cola and gave the company a “neutral” rating in a research report on Wednesday, September 26th. Guggenheim assumed coverage on The Coca-Cola in a research report on Thursday, September 13th. They set a “buy” rating and a $51.00 target price on the stock. Finally, Bank of America reaffirmed a “buy” rating and set a $52.00 target price on shares of The Coca-Cola in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have issued a buy rating to the company. The Coca-Cola currently has an average rating of “Hold” and a consensus target price of $51.22.
In other news, SVP James L. Dinkins sold 8,754 shares of the company’s stock in a transaction on Wednesday, October 24th. The stock was sold at an average price of $46.95, for a total transaction of $411,000.30. Following the transaction, the senior vice president now owns 28,354 shares of the company’s stock, valued at approximately $1,331,220.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.48% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of KO. C WorldWide Group Holding A S lifted its position in shares of The Coca-Cola by 873.0% during the 2nd quarter. C WorldWide Group Holding A S now owns 7,630,919 shares of the company’s stock valued at $334,692,000 after buying an additional 6,846,641 shares during the last quarter. Charles Schwab Investment Advisory Inc. purchased a new position in shares of The Coca-Cola during the 2nd quarter valued at $206,654,000. Natixis lifted its position in shares of The Coca-Cola by 218.3% during the 2nd quarter. Natixis now owns 4,080,146 shares of the company’s stock valued at $178,955,000 after buying an additional 2,798,257 shares during the last quarter. Bank of Montreal Can lifted its position in shares of The Coca-Cola by 47.4% during the 3rd quarter. Bank of Montreal Can now owns 5,934,198 shares of the company’s stock valued at $274,099,000 after buying an additional 1,907,604 shares during the last quarter. Finally, Unigestion Holding SA purchased a new position in shares of The Coca-Cola during the 2nd quarter valued at $78,078,000. 65.44% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:KO opened at $47.74 on Friday. The company has a market cap of $203.19 billion, a P/E ratio of 24.99, a P/E/G ratio of 3.00 and a beta of 0.75. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.06 and a current ratio of 1.06. The Coca-Cola has a 12-month low of $41.45 and a 12-month high of $48.62.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a $0.39 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.56 annualized dividend and a yield of 3.27%. The Coca-Cola’s dividend payout ratio is currently 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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