Coca-Cola Co (The) (NYSE:KO) – Equities researchers at Jefferies Financial Group lifted their Q3 2020 earnings estimates for Coca-Cola in a research note issued to investors on Tuesday, October 13th. Jefferies Financial Group analyst K. Grundy now expects that the company will post earnings of $0.47 per share for the quarter, up from their prior estimate of $0.46. Jefferies Financial Group also issued estimates for Coca-Cola’s FY2020 earnings at $1.81 EPS.
Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, July 21st. The company reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. Coca-Cola had a net margin of 26.77% and a return on equity of 41.44%. The company had revenue of $7.20 billion for the quarter, compared to analyst estimates of $7.26 billion. During the same quarter last year, the firm posted $0.63 earnings per share. The company’s quarterly revenue was down 28.0% compared to the same quarter last year.
Several other equities research analysts also recently issued reports on KO. Bank of America restated a “buy” rating and issued a $53.00 price objective on shares of Coca-Cola in a research note on Friday, July 17th. Morgan Stanley upgraded shares of Coca-Cola from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $52.00 to $54.00 in a research note on Wednesday, July 22nd. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 price objective on the stock. in a research note on Tuesday, September 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $54.19.
NYSE:KO opened at $50.03 on Friday. Coca-Cola has a 12 month low of $36.27 and a 12 month high of $60.13. The firm has a market cap of $214.90 billion, a price-to-earnings ratio of 23.60, a P/E/G ratio of 5.91 and a beta of 0.55. The company has a quick ratio of 0.96, a current ratio of 1.09 and a debt-to-equity ratio of 1.97. The company’s 50 day moving average is $49.97 and its 200-day moving average is $47.25.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.28%. Coca-Cola’s payout ratio is presently 77.73%.
In other Coca-Cola news, SVP Robert Edward Long sold 37,534 shares of Coca-Cola stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $48.21, for a total transaction of $1,809,514.14. Following the completion of the transaction, the senior vice president now directly owns 82,502 shares of the company’s stock, valued at $3,977,421.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David B. Weinberg sold 98,905 shares of Coca-Cola stock in a transaction on Monday, July 27th. The shares were sold at an average price of $48.50, for a total value of $4,796,892.50. Following the transaction, the director now directly owns 355,214 shares of the company’s stock, valued at $17,227,879. The disclosure for this sale can be found here. Over the last three months, insiders have sold 836,439 shares of company stock valued at $40,380,407. Company insiders own 1.01% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of KO. IBM Retirement Fund raised its holdings in Coca-Cola by 37.0% during the 3rd quarter. IBM Retirement Fund now owns 130,747 shares of the company’s stock worth $6,455,000 after purchasing an additional 35,341 shares during the last quarter. Highland Capital Management LLC raised its holdings in Coca-Cola by 1.4% during the 3rd quarter. Highland Capital Management LLC now owns 97,709 shares of the company’s stock worth $4,824,000 after purchasing an additional 1,362 shares during the last quarter. Busey Wealth Management raised its holdings in Coca-Cola by 11.3% during the 3rd quarter. Busey Wealth Management now owns 36,450 shares of the company’s stock worth $1,800,000 after purchasing an additional 3,698 shares during the last quarter. Spearhead Capital Advisors LLC raised its holdings in Coca-Cola by 3.3% during the 3rd quarter. Spearhead Capital Advisors LLC now owns 104,209 shares of the company’s stock worth $5,145,000 after purchasing an additional 3,355 shares during the last quarter. Finally, Valicenti Advisory Services Inc. raised its holdings in Coca-Cola by 5.5% during the 3rd quarter. Valicenti Advisory Services Inc. now owns 99,597 shares of the company’s stock worth $4,917,000 after purchasing an additional 5,219 shares during the last quarter. 65.86% of the stock is owned by institutional investors.
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; 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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