Coca-Cola (NYSE:KO – Get Rating) is set to announce its earnings results before the market opens on Monday, April 24th. Analysts expect the company to announce earnings of $0.64 per share for the quarter. Coca-Cola has set its FY23 guidance at $2.58-$2.60 EPS.Investors that are interested in registering for the company’s conference call can do so using this link.
Coca-Cola (NYSE:KO – Get Rating) last issued its quarterly earnings data on Tuesday, February 14th. The company reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. Coca-Cola had a net margin of 22.19% and a return on equity of 42.35%. The firm had revenue of $10.10 billion for the quarter, compared to analyst estimates of $9.92 billion. During the same quarter in the previous year, the business posted $0.45 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. On average, analysts expect Coca-Cola to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Coca-Cola Stock Performance
Shares of KO stock opened at $63.05 on Monday. Coca-Cola has a 12 month low of $54.01 and a 12 month high of $67.20. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.15 and a quick ratio of 0.93. The firm has a market capitalization of $272.77 billion, a P/E ratio of 28.66, a P/E/G ratio of 3.65 and a beta of 0.54. The company’s fifty day moving average price is $60.65 and its two-hundred day moving average price is $60.62.
Coca-Cola Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Friday, March 17th were issued a $0.46 dividend. The ex-dividend date was Thursday, March 16th. This represents a $1.84 dividend on an annualized basis and a yield of 2.92%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.44. Coca-Cola’s payout ratio is currently 83.64%.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating in a research note on Saturday. Royal Bank of Canada set a $69.00 target price on shares of Coca-Cola in a research note on Tuesday, February 14th. Citigroup assumed coverage on shares of Coca-Cola in a research note on Thursday, February 16th. They issued a “buy” rating and a $68.00 target price on the stock. Wells Fargo & Company cut their target price on shares of Coca-Cola from $70.00 to $68.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 15th. Finally, Credit Suisse Group set a $70.00 target price on shares of Coca-Cola in a research note on Wednesday, February 15th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.85.
Insider Transactions at Coca-Cola
In other Coca-Cola news, insider Brian John Smith sold 126,972 shares of Coca-Cola stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $62.07, for a total value of $7,881,152.04. Following the transaction, the insider now owns 116,168 shares of the company’s stock, valued at $7,210,547.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Coca-Cola news, insider Brian John Smith sold 126,972 shares of the company’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $62.07, for a total value of $7,881,152.04. Following the transaction, the insider now directly owns 116,168 shares in the company, valued at $7,210,547.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James Quincey sold 34,875 shares of the company’s stock in a transaction on Monday, February 13th. The shares were sold at an average price of $60.32, for a total transaction of $2,103,660.00. Following the completion of the transaction, the chief executive officer now owns 351,737 shares in the company, valued at $21,216,775.84. The disclosure for this sale can be found here. Insiders sold a total of 282,268 shares of company stock worth $17,137,823 in the last quarter. 1.00% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC boosted its holdings in shares of Coca-Cola by 103,297.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 57,734,303 shares of the company’s stock worth $3,672,479,000 after buying an additional 57,678,466 shares in the last quarter. Norges Bank bought a new position in shares of Coca-Cola during the 4th quarter worth approximately $2,937,315,000. Morgan Stanley boosted its holdings in shares of Coca-Cola by 15.7% during the 4th quarter. Morgan Stanley now owns 79,101,856 shares of the company’s stock worth $5,031,669,000 after buying an additional 10,722,435 shares in the last quarter. Capital World Investors boosted its holdings in shares of Coca-Cola by 61.4% during the 1st quarter. Capital World Investors now owns 10,764,084 shares of the company’s stock worth $667,373,000 after buying an additional 4,095,881 shares in the last quarter. Finally, Man Group plc boosted its holdings in shares of Coca-Cola by 200.3% during the 4th quarter. Man Group plc now owns 4,150,297 shares of the company’s stock worth $264,000,000 after buying an additional 2,768,288 shares in the last quarter. Institutional investors own 68.74% of the company’s stock.
About Coca-Cola
The Coca-Cola Co engages in the manufacturing and marketing of non-alcoholic beverages. It operates through the following segments: Europe, Middle East and Africa, Latin America, North America, Asia Pacific, Global Ventures, and Bottling Investments. The company was founded by Asa Griggs Candler on May 8, 1886 and is headquartered in Atlanta, GA.