Brokers Set Expectations for The Coca-Cola Company’s Q3 2024 Earnings (NYSE:KO)

The Coca-Cola Company (NYSE:KO) – Wedbush cut their Q3 2024 EPS estimates for Coca-Cola in a research report issued on Wednesday, May 1st. Wedbush analyst G. Pascarelli now anticipates that the company will earn $0.75 per share for the quarter, down from their previous estimate of $0.76. The consensus estimate for Coca-Cola’s current full-year earnings is $2.81 per share. Wedbush also issued estimates for Coca-Cola’s Q2 2025 earnings at $0.89 EPS, Q3 2025 earnings at $0.82 EPS and Q4 2025 earnings at $0.57 EPS.

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

Several other research analysts also recently weighed in on the company. Evercore ISI increased 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. Barclays increased their target price on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday. Citigroup boosted their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. JPMorgan Chase & Co. raised their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, UBS Group boosted their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average target price of $68.27.

Coca-Cola Price Performance

Shares of NYSE KO opened at $62.18 on Friday. The firm has a market cap of $268.05 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 3.54 and a beta of 0.57. The stock has a fifty day simple moving average of $60.22 and a two-hundred day simple moving average of $59.06. The company has a current ratio of 1.04, a quick ratio of 0.95 and a debt-to-equity ratio of 1.26. Coca-Cola has a 1-year low of $51.55 and a 1-year high of $64.25.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.12%. Coca-Cola’s payout ratio is currently 77.60%.

Insider Buying and Selling

In related news, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $13,594,097.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 323,107 shares of company stock worth $19,657,742. Corporate insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Coca-Cola

Large investors have recently added to or reduced their stakes in the company. Enterprise Bank & Trust Co raised its holdings in shares of Coca-Cola by 3.4% during the 4th quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock valued at $296,000 after buying an additional 167 shares in the last quarter. Community Bank & Trust Waco Texas grew its position in Coca-Cola by 0.6% during the first quarter. Community Bank & Trust Waco Texas now owns 30,262 shares of the company’s stock valued at $1,851,000 after acquiring an additional 168 shares during the last quarter. Goelzer Investment Management Inc. grew its position in Coca-Cola by 1.8% during the fourth quarter. Goelzer Investment Management Inc. now owns 9,681 shares of the company’s stock valued at $571,000 after acquiring an additional 169 shares during the last quarter. Elk River Wealth Management LLC lifted its holdings in shares of Coca-Cola by 1.6% in the 4th quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock worth $639,000 after acquiring an additional 170 shares during the last quarter. Finally, KRS Capital Management LLC boosted its stake in shares of Coca-Cola by 3.8% in the 4th quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock valued at $274,000 after purchasing an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

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, 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.