Wedbush Weighs in on The Coca-Cola Company’s Q2 2024 Earnings (NYSE:KO)

The Coca-Cola Company (NYSE:KO) – Equities research analysts at Wedbush increased their Q2 2024 EPS estimates for shares of Coca-Cola in a report released on Wednesday, May 1st. Wedbush analyst G. Pascarelli now forecasts that the company will post earnings of $0.81 per share for the quarter, up from their previous estimate of $0.80. The consensus estimate for Coca-Cola’s current full-year earnings is $2.82 per share. Wedbush also issued estimates for Coca-Cola’s Q4 2024 earnings at $0.53 EPS.

A number of other analysts have also issued reports on the company. 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, May 1st. UBS Group upped their price objective on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Citigroup upped their price objective on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Evercore ISI upped their price objective on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Finally, Barclays upped their price objective on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $68.27.

Coca-Cola Stock Up 0.4 %

Shares of NYSE KO opened at $62.62 on Monday. The firm has a market cap of $269.74 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 3.53 and a beta of 0.57. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. Coca-Cola has a 52-week low of $51.55 and a 52-week high of $64.25. The business’s 50 day moving average is $60.32 and its two-hundred day moving average is $59.30.

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

Institutional Investors Weigh In On Coca-Cola

Several hedge funds have recently made changes to their positions in the business. Morgan Stanley boosted its stake in shares of Coca-Cola by 2.5% during the third quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock worth $4,503,484,000 after buying an additional 1,950,146 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Coca-Cola by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 63,138,970 shares of the company’s stock worth $3,501,789,000 after purchasing an additional 2,464,618 shares in the last quarter. Norges Bank purchased a new position in Coca-Cola during the fourth quarter worth about $2,808,056,000. Northern Trust Corp raised its holdings in Coca-Cola by 4.8% during the third quarter. Northern Trust Corp now owns 44,913,068 shares of the company’s stock worth $2,514,234,000 after purchasing an additional 2,040,664 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Coca-Cola by 7.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 40,564,179 shares of the company’s stock worth $2,390,448,000 after purchasing an additional 2,893,061 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling

In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction on Monday, March 4th. The shares were 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 Securities & Exchange Commission, which is accessible through this link. In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction on Monday, March 4th. The shares were 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 Securities & Exchange Commission, which is accessible through this link. Also, EVP Beatriz R. Perez sold 57,298 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the transaction, the executive vice president now owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The disclosure for this sale can be found here. Over the last quarter, insiders sold 380,405 shares of company stock worth $23,209,645. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.10%. Coca-Cola’s payout ratio is currently 77.60%.

Coca-Cola Company Profile

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.