Q3 2022 EPS Estimates for The Coca-Cola Company Decreased by Jefferies Financial Group (NYSE:KO)

The Coca-Cola Company (NYSE:KOGet Rating) – Investment analysts at Jefferies Financial Group cut their Q3 2022 EPS estimates for Coca-Cola in a report issued on Wednesday, July 27th. Jefferies Financial Group analyst K. Grundy now anticipates that the company will earn $0.65 per share for the quarter, down from their previous estimate of $0.66. The consensus estimate for Coca-Cola’s current full-year earnings is $2.46 per share. Jefferies Financial Group also issued estimates for Coca-Cola’s Q4 2022 earnings at $0.47 EPS and FY2022 earnings at $2.47 EPS.

Coca-Cola (NYSE:KOGet Rating) last released its earnings results on Tuesday, July 26th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. The business had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $10.57 billion. Coca-Cola had a return on equity of 41.84% and a net margin of 25.69%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 earnings per share.

A number of other research analysts have also recently commented on KO. JPMorgan Chase & Co. set a $70.00 target price on Coca-Cola in a research note on Tuesday. Truist Financial raised their price objective on Coca-Cola from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, April 26th. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday. HSBC raised their price objective on Coca-Cola from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Tuesday, April 26th. Finally, Cowen raised their price objective on Coca-Cola from $65.00 to $68.00 and gave the company a “market perform” rating in a research note on Tuesday, April 26th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.41.

Coca-Cola Stock Up 0.2 %

KO opened at $64.17 on Friday. The stock has a market cap of $278.18 billion, a PE ratio of 26.96, a P/E/G ratio of 3.99 and a beta of 0.55. The company has a quick ratio of 0.98, a current ratio of 1.18 and a debt-to-equity ratio of 1.38. Coca-Cola has a 52 week low of $52.28 and a 52 week high of $67.20. The business’s fifty day simple moving average is $62.50 and its 200 day simple moving average is $62.30.

Institutional Investors Weigh In On Coca-Cola

Institutional investors and hedge funds have recently made changes to their positions in the company. Aull & Monroe Investment Management Corp grew its position in Coca-Cola by 5.0% in the 4th quarter. Aull & Monroe Investment Management Corp now owns 29,941 shares of the company’s stock worth $1,772,000 after purchasing an additional 1,433 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Coca-Cola in the 4th quarter worth approximately $146,372,000. ARGI Investment Services LLC grew its position in Coca-Cola by 4.9% in the 4th quarter. ARGI Investment Services LLC now owns 31,612 shares of the company’s stock worth $1,872,000 after purchasing an additional 1,477 shares during the period. Americana Partners LLC grew its position in Coca-Cola by 207.7% in the 4th quarter. Americana Partners LLC now owns 21,560 shares of the company’s stock worth $1,276,000 after purchasing an additional 14,554 shares during the period. Finally, Annex Advisory Services LLC grew its position in Coca-Cola by 10.0% in the 4th quarter. Annex Advisory Services LLC now owns 7,175 shares of the company’s stock worth $425,000 after purchasing an additional 653 shares during the period. Institutional investors own 68.51% of the company’s stock.

Insider Activity

In other news, SVP Beatriz R. Perez sold 143,924 shares of Coca-Cola stock in a transaction that occurred on Thursday, May 5th. The shares were sold at an average price of $64.78, for a total transaction of $9,323,396.72. Following the completion of the transaction, the senior vice president now directly owns 121,178 shares in the company, valued at $7,849,910.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Beatriz R. Perez sold 143,924 shares of Coca-Cola stock in a transaction that occurred on Thursday, May 5th. The shares were sold at an average price of $64.78, for a total transaction of $9,323,396.72. Following the completion of the transaction, the senior vice president now directly owns 121,178 shares in the company, valued at $7,849,910.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carolyn Everson bought 983 shares of the stock in a transaction dated Wednesday, July 27th. The shares were acquired at an average price of $62.29 per share, with a total value of $61,231.07. Following the completion of the acquisition, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $93,435. The disclosure for this purchase can be found here. Company insiders own 0.98% of the company’s stock.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 16th will be issued a dividend of $0.44 per share. The ex-dividend date is Thursday, September 15th. This represents a $1.76 annualized dividend and a dividend yield of 2.74%. Coca-Cola’s payout ratio is 73.95%.

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 plant-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.

See Also

Earnings History and Estimates for Coca-Cola (NYSE:KO)

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