$9.94 Billion in Sales Expected for The Coca-Cola Company (NYSE:KO) This Quarter

Equities research analysts forecast that The Coca-Cola Company (NYSE:KOGet Rating) will report sales of $9.94 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Coca-Cola’s earnings, with estimates ranging from $9.65 billion to $10.21 billion. Coca-Cola reported sales of $9.02 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 10.2%. The company is expected to issue its next quarterly earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Coca-Cola will report full year sales of $41.99 billion for the current fiscal year, with estimates ranging from $41.38 billion to $42.56 billion. For the next fiscal year, analysts expect that the firm will post sales of $44.16 billion, with estimates ranging from $42.67 billion to $45.00 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Coca-Cola.

Coca-Cola (NYSE:KOGet Rating) last released its earnings results on Thursday, February 10th. The company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.05. Coca-Cola had a return on equity of 42.21% and a net margin of 25.28%. The company had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $8.93 billion. During the same period last year, the firm earned $0.47 EPS. The business’s revenue for the quarter was up 10.5% on a year-over-year basis.

Several research analysts have weighed in on the company. Wells Fargo & Company lifted their target price on Coca-Cola from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, February 11th. Royal Bank of Canada lifted their target price on Coca-Cola from $64.00 to $68.00 and gave the stock an “outperform” rating in a report on Friday, February 11th. Citigroup boosted their price target on Coca-Cola from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, February 11th. Morgan Stanley boosted their price target on Coca-Cola from $65.00 to $71.00 and gave the company an “overweight” rating in a report on Tuesday, February 8th. Finally, StockNews.com began coverage on Coca-Cola in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $65.25.

In related news, CFO John Murphy sold 154,080 shares of the stock in a transaction on Friday, March 4th. The stock was sold at an average price of $62.29, for a total value of $9,597,643.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Henrique Braun sold 9,436 shares of the stock in a transaction on Friday, March 18th. The shares were sold at an average price of $59.91, for a total value of $565,310.76. The disclosure for this sale can be found here. Insiders have sold 310,482 shares of company stock valued at $19,207,032 over the last 90 days. Corporate insiders own 0.98% of the company’s stock.

Institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of Coca-Cola by 3.7% during the 4th quarter. BlackRock Inc. now owns 279,741,946 shares of the company’s stock worth $16,563,519,000 after purchasing an additional 9,884,447 shares in the last quarter. State Street Corp boosted its position in shares of Coca-Cola by 1.8% during the 4th quarter. State Street Corp now owns 170,597,908 shares of the company’s stock worth $10,101,102,000 after purchasing an additional 2,984,878 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Coca-Cola by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 69,443,905 shares of the company’s stock worth $4,102,043,000 after purchasing an additional 2,035,444 shares in the last quarter. Morgan Stanley boosted its position in shares of Coca-Cola by 5.1% during the 3rd quarter. Morgan Stanley now owns 50,747,845 shares of the company’s stock worth $2,662,738,000 after purchasing an additional 2,484,005 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Coca-Cola by 4.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 50,269,019 shares of the company’s stock valued at $2,976,429,000 after acquiring an additional 2,213,153 shares in the last quarter. Hedge funds and other institutional investors own 67.82% of the company’s stock.

Shares of Coca-Cola stock traded up $0.39 during trading on Friday, reaching $63.83. 12,703,466 shares of the company were exchanged, compared to its average volume of 16,255,256. The company has a quick ratio of 0.96, a current ratio of 1.13 and a debt-to-equity ratio of 1.53. Coca-Cola has a twelve month low of $52.28 and a twelve month high of $64.04. The business has a 50-day moving average price of $61.25 and a 200-day moving average price of $58.28. The firm has a market capitalization of $276.70 billion, a price-to-earnings ratio of 28.24, a P/E/G ratio of 3.09 and a beta of 0.65.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 1st. Shareholders of record on Tuesday, March 15th were paid a dividend of $0.44 per share. The ex-dividend date was Monday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 2.76%. Coca-Cola’s dividend payout ratio is presently 77.88%.

About Coca-Cola (Get Rating)

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plantÂ-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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