Zacks: Brokerages Expect The Coca-Cola Co (KO) Will Post Quarterly Sales of $8.24 Billion
Equities analysts expect The Coca-Cola Co (NYSE:KO) to report sales of $8.24 billion for the current quarter, according to Zacks. Four analysts have made estimates for The Coca-Cola’s earnings, with the highest sales estimate coming in at $8.51 billion and the lowest estimate coming in at $8.14 billion. The Coca-Cola reported sales of $9.08 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 9.3%. The firm is expected to issue its next earnings report on Wednesday, October 24th.
According to Zacks, analysts expect that The Coca-Cola will report full year sales of $32.00 billion for the current fiscal year, with estimates ranging from $31.59 billion to $32.79 billion. For the next year, analysts expect that the firm will post sales of $33.10 billion per share, with estimates ranging from $32.71 billion to $33.64 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for The Coca-Cola.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, July 25th. The company reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The Coca-Cola had a return on equity of 40.68% and a net margin of 7.18%. The firm had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.54 billion. During the same period last year, the company posted $0.59 EPS. The business’s quarterly revenue was down 8.3% on a year-over-year basis.
In other news, insider John Murphy sold 111,468 shares of the business’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $46.46, for a total value of $5,178,803.28. Following the transaction, the insider now owns 196,337 shares in the company, valued at approximately $9,121,817.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Kathy N. Waller sold 48,354 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $46.45, for a total value of $2,246,043.30. Following the completion of the transaction, the vice president now owns 200,725 shares in the company, valued at approximately $9,323,676.25. The disclosure for this sale can be found here. Insiders have sold a total of 215,822 shares of company stock valued at $10,027,727 in the last quarter. Company insiders own 1.48% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Princeton Capital Management LLC bought a new stake in shares of The Coca-Cola in the 1st quarter worth approximately $100,000. Clarus Wealth Advisors bought a new stake in The Coca-Cola during the 2nd quarter valued at $101,000. WP Advisors LLC bought a new stake in The Coca-Cola during the 2nd quarter valued at $107,000. Signature Estate & Investment Advisors LLC bought a new stake in The Coca-Cola during the 2nd quarter valued at $116,000. Finally, Fort L.P. bought a new stake in The Coca-Cola during the 2nd quarter valued at $122,000. Hedge funds and other institutional investors own 65.41% of the company’s stock.
Shares of KO traded up $0.34 during trading hours on Wednesday, hitting $46.06. The stock had a trading volume of 645,317 shares, compared to its average volume of 9,957,949. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.15 and a quick ratio of 1.06. The company has a market cap of $195.04 billion, a PE ratio of 24.17, a P/E/G ratio of 2.82 and a beta of 0.75. The Coca-Cola has a 1-year low of $41.45 and a 1-year high of $48.62.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be paid a dividend of $0.39 per share. The ex-dividend date is Thursday, September 13th. This represents a $1.56 dividend on an annualized basis and a yield of 3.39%. The Coca-Cola’s dividend payout ratio (DPR) is currently 81.68%.
About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plant?based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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