SunTrust Banks Equities Analysts Decrease Earnings Estimates for The Coca-Cola Co (KO)
The Coca-Cola Co (NYSE:KO) – Investment analysts at SunTrust Banks decreased their Q1 2019 earnings per share (EPS) estimates for shares of The Coca-Cola in a report issued on Thursday, February 14th. SunTrust Banks analyst W. Chappell now expects that the company will earn $0.47 per share for the quarter, down from their prior forecast of $0.48. SunTrust Banks also issued estimates for The Coca-Cola’s Q2 2019 earnings at $0.61 EPS, Q4 2019 earnings at $0.43 EPS, Q1 2020 earnings at $0.50 EPS, Q2 2020 earnings at $0.66 EPS, Q3 2020 earnings at $0.62 EPS, Q4 2020 earnings at $0.47 EPS and FY2020 earnings at $2.25 EPS.
Other analysts have also recently issued research reports about the stock. Barclays set a $50.00 target price on shares of The Coca-Cola and gave the stock a “buy” rating in a research note on Tuesday, October 30th. Royal Bank of Canada set a $56.00 target price on shares of The Coca-Cola and gave the company a “buy” rating in a report on Tuesday, October 30th. Bank of America reiterated a “buy” rating and issued a $52.00 target price on shares of The Coca-Cola in a report on Tuesday, October 30th. ValuEngine upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Finally, HSBC reiterated a “buy” rating and set a $64.00 target price on shares of The Coca-Cola in a report on Wednesday, October 31st. Fourteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $51.70.
The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Thursday, February 14th. The company reported $0.43 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. The Coca-Cola had a net margin of 8.70% and a return on equity of 43.12%. The business had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same period in the previous year, the company earned $0.39 earnings per share. The business’s revenue for the quarter was down 5.5% on a year-over-year basis.
Several institutional investors and hedge funds have recently modified their holdings of KO. CX Institutional acquired a new stake in The Coca-Cola in the fourth quarter worth about $928,000. Moller Financial Services acquired a new position in The Coca-Cola during the fourth quarter valued at $292,000. Ancora Advisors LLC lifted its position in The Coca-Cola by 21.0% during the third quarter. Ancora Advisors LLC now owns 51,438 shares of the company’s stock valued at $2,377,000 after purchasing an additional 8,941 shares during the period. Moody National Bank Trust Division raised its position in shares of The Coca-Cola by 7.2% in the fourth quarter. Moody National Bank Trust Division now owns 34,209 shares of the company’s stock worth $1,620,000 after acquiring an additional 2,303 shares during the period. Finally, Man Group plc raised its position in shares of The Coca-Cola by 34.2% in the third quarter. Man Group plc now owns 617,032 shares of the company’s stock worth $28,501,000 after acquiring an additional 157,187 shares during the period. Institutional investors own 65.93% of the company’s stock.
In other The Coca-Cola news, SVP Beatriz R. Perez sold 10,000 shares of the company’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $48.50, for a total transaction of $485,000.00. Following the completion of the sale, the senior vice president now directly owns 92,645 shares of the company’s stock, valued at $4,493,282.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Beatriz R. Perez sold 21,742 shares of the company’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $48.76, for a total transaction of $1,060,139.92. Following the sale, the insider now directly owns 92,645 shares of the company’s stock, valued at $4,517,370.20. The disclosure for this sale can be found here. Corporate insiders own 1.48% of the company’s stock.
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 plantbased 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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