Equities research analysts predict that The Coca-Cola Company (NYSE:KO) will report $7.42 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for The Coca-Cola’s earnings, with the highest sales estimate coming in at $7.65 billion and the lowest estimate coming in at $7.27 billion. The Coca-Cola posted sales of $9.12 billion in the same quarter last year, which would indicate a negative year over year growth rate of 18.6%. The company is scheduled to announce its next earnings results before the market opens on Tuesday, April 24th.
On average, analysts expect that The Coca-Cola will report full-year sales of $7.42 billion for the current fiscal year, with estimates ranging from $31.43 billion to $32.09 billion. For the next fiscal year, analysts anticipate that the business will post sales of $32.98 billion per share, with estimates ranging from $32.08 billion to $33.42 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow The Coca-Cola.
The Coca-Cola (NYSE:KO) last released its earnings results on Friday, February 16th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01. The Coca-Cola had a return on equity of 38.36% and a net margin of 3.52%. The business had revenue of $7.51 billion during the quarter, compared to the consensus estimate of $7.36 billion. During the same period last year, the business posted $0.37 earnings per share. The business’s revenue for the quarter was down 20.2% on a year-over-year basis.
In other The Coca-Cola news, CFO Kathy N. Waller sold 23,240 shares of The Coca-Cola stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $46.15, for a total transaction of $1,072,526.00. Following the completion of the sale, the chief financial officer now owns 123,796 shares of the company’s stock, valued at $5,713,185.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ed Hays sold 84,400 shares of The Coca-Cola stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $47.50, for a total value of $4,009,000.00. The disclosure for this sale can be found here. Insiders have sold 124,523 shares of company stock valued at $5,885,511 in the last three months. 1.48% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. Amalgamated Bank lifted its stake in shares of The Coca-Cola by 54.8% in the 2nd quarter. Amalgamated Bank now owns 448,572 shares of the company’s stock valued at $20,118,000 after acquiring an additional 158,741 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in The Coca-Cola by 69.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 9,016,828 shares of the company’s stock valued at $405,847,000 after purchasing an additional 3,700,700 shares during the period. Calamos Advisors LLC increased its holdings in The Coca-Cola by 5.4% during the 3rd quarter. Calamos Advisors LLC now owns 1,660,216 shares of the company’s stock valued at $74,726,000 after purchasing an additional 84,539 shares during the period. Janney Montgomery Scott LLC increased its holdings in The Coca-Cola by 3.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 616,268 shares of the company’s stock valued at $27,738,000 after purchasing an additional 21,821 shares during the period. Finally, Manchester Capital Management LLC increased its holdings in The Coca-Cola by 19.9% during the 4th quarter. Manchester Capital Management LLC now owns 45,818 shares of the company’s stock valued at $2,102,000 after purchasing an additional 7,620 shares during the period. 66.15% of the stock is owned by hedge funds and other institutional investors.
NYSE:KO traded down $0.22 during trading hours on Tuesday, reaching $44.18. The stock had a trading volume of 2,864,234 shares, compared to its average volume of 13,388,771. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.34 and a quick ratio of 1.25. The Coca-Cola has a 12-month low of $42.19 and a 12-month high of $48.62. The company has a market capitalization of $188,723.67, a P/E ratio of 23.15, a P/E/G ratio of 2.56 and a beta of 0.72.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Thursday, March 15th were paid a dividend of $0.39 per share. This is a positive change from The Coca-Cola’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $1.56 annualized dividend and a yield of 3.53%. The Coca-Cola’s dividend payout ratio (DPR) is currently 81.68%.
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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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