The Coca-Cola Company (NYSE:KO) Expected to Post Q3 2024 Earnings of $0.75 Per Share

The Coca-Cola Company (NYSE:KO) – Equities research analysts at Wedbush decreased their Q3 2024 EPS estimates for Coca-Cola in a research note issued on Wednesday, May 1st. Wedbush analyst G. Pascarelli now anticipates that the company will post earnings of $0.75 per share for the quarter, down from their previous forecast of $0.76. The consensus estimate for Coca-Cola’s current full-year earnings is $2.81 per share. Wedbush also issued estimates for Coca-Cola’s Q2 2025 earnings at $0.89 EPS, Q3 2025 earnings at $0.82 EPS and Q4 2025 earnings at $0.57 EPS.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The firm had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. Coca-Cola’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.68 earnings per share.

Several other research analysts have also commented on KO. UBS Group lifted their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday. Evercore ISI raised their price target on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday. Citigroup boosted their price objective on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Finally, Barclays raised their target price on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $68.27.

Coca-Cola Stock Performance

Coca-Cola stock opened at $62.17 on Friday. The company’s 50-day moving average price is $60.24 and its 200-day moving average price is $59.12. The company has a quick ratio of 0.95, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The company has a market cap of $268.03 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 3.54 and a beta of 0.57. Coca-Cola has a twelve month low of $51.55 and a twelve month high of $64.25.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.12%. The ex-dividend date is Friday, June 14th. Coca-Cola’s payout ratio is 77.60%.

Insider Buying and Selling

In other news, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO James Quincey sold 247,188 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at $26,968,753.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 323,107 shares of company stock worth $19,657,742. 0.97% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Coca-Cola

Several hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new position in Coca-Cola during the fourth quarter worth about $2,808,056,000. Fisher Asset Management LLC lifted its holdings in Coca-Cola by 11,138.6% in the 4th quarter. Fisher Asset Management LLC now owns 4,977,819 shares of the company’s stock valued at $293,343,000 after purchasing an additional 4,933,527 shares in the last quarter. Pathstone Holdings LLC purchased a new position in shares of Coca-Cola during the fourth quarter valued at approximately $193,342,000. Putnam Investments LLC grew its position in shares of Coca-Cola by 32.8% in the fourth quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock valued at $709,051,000 after purchasing an additional 2,973,234 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Coca-Cola by 7.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 40,564,179 shares of the company’s stock valued at $2,390,448,000 after acquiring an additional 2,893,061 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

About Coca-Cola

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.