Coca-Cola (NYSE:KO) Posts Earnings Results, Beats Expectations By $0.06 EPS

Coca-Cola (NYSE:KO – Get Rating) released its quarterly earnings results on Monday. The company reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.06, RTT News reports. Coca-Cola had a return on equity of 42.21% and a net margin of 25.28%. The company had revenue of $10.50 billion for the quarter, compared to analysts’ expectations of $9.83 billion. During the same quarter in the previous year, the company posted $0.55 earnings per share. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. Coca-Cola updated its FY 2022 guidance to $2.440-$2.460 EPS.

NYSE KO opened at $65.25 on Monday. The firm’s 50 day moving average price is $62.02 and its two-hundred day moving average price is $59.11. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.96 and a current ratio of 1.13. Coca-Cola has a twelve month low of $52.28 and a twelve month high of $67.00. The stock has a market cap of $282.86 billion, a price-to-earnings ratio of 28.87, a PEG ratio of 3.21 and a beta of 0.65.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 1st. Shareholders of record on Tuesday, March 15th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.70%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, March 14th. Coca-Cola’s payout ratio is presently 77.88%.

In related news, SVP Beatriz R. Perez sold 25,406 shares of Coca-Cola stock in a transaction on Tuesday, February 8th. The shares were sold at an average price of $62.01, for a total value of $1,575,426.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nikolaos Koumettis sold 153,466 shares of Coca-Cola stock in a transaction on Monday, April 18th. The shares were sold at an average price of $65.03, for a total transaction of $9,979,893.98. Following the completion of the sale, the insider now directly owns 136,513 shares of the company’s stock, valued at approximately $8,877,440.39. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 512,819 shares of company stock worth $32,431,674. 0.98% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Heritage Wealth Advisors lifted its stake in shares of Coca-Cola by 1.9% in the 4th quarter. Heritage Wealth Advisors now owns 21,882 shares of the company’s stock valued at $1,296,000 after purchasing an additional 398 shares during the last quarter. Ulland Investment Advisors LLC acquired a new position in Coca-Cola during the 4th quarter worth $43,000. Monolith Advisors acquired a new position in Coca-Cola during the 4th quarter worth $56,000. First Community Trust NA acquired a new position in Coca-Cola during the 4th quarter worth $157,000. Finally, Vident Investment Advisory LLC lifted its position in Coca-Cola by 11.7% during the 4th quarter. Vident Investment Advisory LLC now owns 28,752 shares of the company’s stock worth $1,702,000 after acquiring an additional 3,010 shares during the last quarter. 67.82% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently commented on the company. Truist Financial boosted their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, February 11th. Morgan Stanley lifted their price target on shares of Coca-Cola from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 8th. Credit Suisse Group set a $66.00 price target on shares of Coca-Cola in a research report on Thursday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Coca-Cola from $61.00 to $62.00 and gave the stock a “hold” rating in a research report on Friday, February 11th. Finally, Royal Bank of Canada lifted their price target on shares of Coca-Cola from $64.00 to $68.00 and gave the stock an “outperform” rating in a research report on Friday, February 11th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Coca-Cola has a consensus rating of “Buy” and an average price target of $65.25.

Coca-Cola Company Profile (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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