Brokerages expect The Coca-Cola Co (NYSE:KO) to announce $7.05 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for The Coca-Cola’s earnings, with estimates ranging from $6.93 billion to $7.25 billion. The Coca-Cola reported sales of $7.51 billion in the same quarter last year, which indicates a negative year over year growth rate of 6.1%. The company is scheduled to announce its next quarterly earnings report on Friday, February 15th.
On average, analysts expect that The Coca-Cola will report full-year sales of $31.85 billion for the current fiscal year, with estimates ranging from $31.65 billion to $32.11 billion. For the next financial year, analysts anticipate that the firm will post sales of $33.80 billion, with estimates ranging from $32.26 billion to $35.26 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for The Coca-Cola.
The Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, October 30th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.55 by $0.03. The Coca-Cola had a net margin of 8.70% and a return on equity of 43.12%. The business had revenue of $8.25 billion during the quarter, compared to the consensus estimate of $8.20 billion. During the same quarter in the prior year, the firm earned $0.50 EPS. The business’s revenue was down 9.2% on a year-over-year basis.
Several analysts have recently issued reports on the stock. Barclays restated a “buy” rating and set a $50.00 target price on shares of The Coca-Cola in a research report on Friday, October 5th. Morningstar set a $49.00 target price on shares of The Coca-Cola and gave the company a “buy” rating in a research report on Tuesday, October 2nd. HSBC set a $61.00 target price on shares of The Coca-Cola and gave the company a “buy” rating in a research report on Thursday, September 27th. ValuEngine upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Finally, Wells Fargo & Co restated a “buy” rating and set a $52.00 target price on shares of The Coca-Cola in a research report on Wednesday, October 17th. Fourteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $51.64.
Shares of KO traded down $0.16 during midday trading on Friday, hitting $47.18. 369,239 shares of the company traded hands, compared to its average volume of 14,104,133. The Coca-Cola has a 52 week low of $41.45 and a 52 week high of $50.84. The company has a market capitalization of $198.66 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 2.85 and a beta of 0.62. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 1.26.
In other news, VP Larry M. Mark sold 75,538 shares of the firm’s stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $49.51, for a total transaction of $3,739,886.38. Following the transaction, the vice president now directly owns 85,755 shares of the company’s stock, valued at $4,245,730.05. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Kathy N. Waller sold 88,400 shares of the firm’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $50.00, for a total transaction of $4,420,000.00. Following the transaction, the vice president now directly owns 256,421 shares in the company, valued at $12,821,050. The disclosure for this sale can be found here. Insiders sold a total of 374,542 shares of company stock worth $18,436,957 over the last three months. 1.48% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of KO. Parkside Advisors LLC acquired a new stake in The Coca-Cola in the fourth quarter valued at approximately $254,000. Chicago Partners Investment Group LLC boosted its stake in The Coca-Cola by 2.1% in the fourth quarter. Chicago Partners Investment Group LLC now owns 13,490 shares of the company’s stock valued at $635,000 after acquiring an additional 282 shares in the last quarter. YHB Investment Advisors Inc. boosted its stake in The Coca-Cola by 3.6% in the fourth quarter. YHB Investment Advisors Inc. now owns 30,683 shares of the company’s stock valued at $1,453,000 after acquiring an additional 1,063 shares in the last quarter. Abner Herrman & Brock LLC boosted its stake in The Coca-Cola by 14.2% in the fourth quarter. Abner Herrman & Brock LLC now owns 7,960 shares of the company’s stock valued at $377,000 after acquiring an additional 988 shares in the last quarter. Finally, Fenimore Asset Management Inc. acquired a new stake in The Coca-Cola in the fourth quarter valued at approximately $202,000. 65.53% of the stock is currently owned by institutional investors and hedge funds.
About The Coca-Cola
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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