Wedbush Comments on The Coca-Cola Company’s Q2 2024 Earnings (NYSE:KO)

The Coca-Cola Company (NYSE:KO) – Research analysts at Wedbush boosted their Q2 2024 earnings per share (EPS) estimates for shares of Coca-Cola in a note issued to investors on Wednesday, May 1st. Wedbush analyst G. Pascarelli now anticipates that the company will post earnings of $0.81 per share for the quarter, up from their prior forecast of $0.80. The consensus estimate for Coca-Cola’s current full-year earnings is $2.82 per share. Wedbush also issued estimates for Coca-Cola’s Q4 2024 earnings at $0.53 EPS.

KO has been the subject of a number of other reports. Evercore ISI boosted their price objective on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Barclays boosted their price objective on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday. UBS Group boosted their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Citigroup boosted their price target on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. boosted their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.27.

Coca-Cola Trading Up 0.3 %

Shares of NYSE:KO opened at $62.17 on Monday. The stock has a 50 day moving average of $60.24 and a 200 day moving average of $59.19. The company has a market cap of $268.03 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 3.55 and a beta of 0.57. 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 12-month low of $51.55 and a 12-month high of $64.25.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 42.74% and a net margin of 23.41%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 EPS.

Institutional Trading of Coca-Cola

A number of institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Coca-Cola during the fourth quarter worth $2,808,056,000. Fisher Asset Management LLC lifted its position in shares of Coca-Cola by 11,138.6% during the fourth quarter. Fisher Asset Management LLC now owns 4,977,819 shares of the company’s stock worth $293,343,000 after purchasing an additional 4,933,527 shares during the last quarter. Pathstone Holdings LLC bought a new stake in shares of Coca-Cola during the fourth quarter worth $193,342,000. Putnam Investments LLC lifted its position in shares of Coca-Cola by 32.8% during the fourth quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock worth $709,051,000 after purchasing an additional 2,973,234 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Coca-Cola by 7.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 40,564,179 shares of the company’s stock worth $2,390,448,000 after purchasing an additional 2,893,061 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Transactions at Coca-Cola

In other news, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was 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 disclosure for this sale can be found here. Insiders have sold 323,107 shares of company stock valued at $19,657,742 in the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Dividend Announcement

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

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.