Coca-Cola (KO) Scheduled to Post Quarterly Earnings on Tuesday

Coca-Cola (NYSE:KO) is scheduled to post its quarterly earnings results before the market opens on Tuesday, July 23rd. Analysts expect Coca-Cola to post earnings of $0.80 per share for the quarter. Coca-Cola has set its FY 2024 guidance at 2.800-2.830 EPS and its FY24 guidance at $2.80-$2.82 EPS.Parties that wish to listen to the company’s conference call can do so using this link.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The company had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same quarter last year, the firm posted $0.68 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. 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 Up 0.2 %

Shares of NYSE KO opened at $65.29 on Monday. The firm has a fifty day simple moving average of $63.23 and a two-hundred day simple moving average of $61.31. Coca-Cola has a 12 month low of $51.55 and a 12 month high of $65.81. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $281.27 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 3.70 and a beta of 0.59.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were given a dividend of $0.485 per share. The ex-dividend date was Friday, June 14th. This represents a $1.94 annualized dividend and a yield of 2.97%. Coca-Cola’s payout ratio is 77.60%.

Insider Buying and Selling

In other news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the transaction, the insider now owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of Coca-Cola stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the transaction, the insider now owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the transaction, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 841,588 shares of company stock valued at $568,972,027. 0.97% of the stock is owned by insiders.

Analysts Set New Price Targets

KO has been the topic of a number of recent research reports. Argus upped their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Morgan Stanley raised their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Bank of America lifted their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Evercore ISI upped their price target on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Finally, BNP Paribas began coverage on Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective for the company. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.00.

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.