The Coca-Cola Company (NYSE:KO) Expected to Earn Q3 2024 Earnings of $0.75 Per Share

The Coca-Cola Company (NYSE:KO) – Investment analysts at Wedbush decreased their Q3 2024 earnings estimates for shares of Coca-Cola in a research note issued to investors 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 prior forecast 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 issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. The company 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 firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 earnings per share.

A number of other analysts have also commented on KO. JPMorgan Chase & Co. boosted their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday. Evercore ISI raised their price objective on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday. UBS Group lifted their target price on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays raised their price target on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Citigroup upped their price objective on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and an average price target of $68.27.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $62.18 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.95. 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’s 50-day moving average is $60.22 and its 200-day moving average is $59.06. Coca-Cola has a one year low of $51.55 and a one year high of $64.25.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a yield of 3.12%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total value of $1,102,114.91. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bruno Pietracci sold 18,551 shares of the firm’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 disclosure for this sale can be found here. Insiders have sold a total of 323,107 shares of company stock worth $19,657,742 over the last ninety days. Insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

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