The Coca-Cola Company (NYSE:KO – Get 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:KO – Get 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.
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.
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
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.
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