The Coca-Cola (NYSE:KO) Announces Earnings Results, Beats Estimates By $0.12 EPS

The Coca-Cola (NYSE:KO) released its quarterly earnings results on Tuesday. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.12, MarketWatch Earnings reports. The Coca-Cola had a net margin of 21.59% and a return on equity of 41.48%. The company had revenue of $10.10 billion during the quarter, compared to the consensus estimate of $9.30 billion. During the same period in the prior year, the firm earned $0.42 earnings per share. The Coca-Cola’s revenue was up 40.3% on a year-over-year basis.

Shares of KO stock traded down $0.06 during trading hours on Thursday, reaching $56.49. 510,210 shares of the stock were exchanged, compared to its average volume of 13,722,054. The Coca-Cola has a 12-month low of $46.22 and a 12-month high of $57.56. The stock’s 50-day moving average is $54.97. The company has a market cap of $243.57 billion, a price-to-earnings ratio of 33.77, a price-to-earnings-growth ratio of 3.35 and a beta of 0.61. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.33 and a quick ratio of 1.13.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Wednesday, September 15th will be paid a dividend of $0.42 per share. The ex-dividend date is Tuesday, September 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.97%. The Coca-Cola’s dividend payout ratio is presently 86.15%.

In other The Coca-Cola news, insider Nikolaos Koumettis sold 55,392 shares of the business’s stock in a transaction that occurred on Friday, June 4th. The shares were sold at an average price of $55.89, for a total transaction of $3,095,858.88. Following the sale, the insider now owns 170,403 shares of the company’s stock, valued at approximately $9,523,823.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Nancy Quan sold 19,911 shares of the company’s stock in a transaction on Friday, July 16th. The shares were sold at an average price of $56.50, for a total transaction of $1,124,971.50. Following the completion of the sale, the senior vice president now directly owns 196,745 shares in the company, valued at $11,116,092.50. The disclosure for this sale can be found here. Insiders have sold a total of 185,303 shares of company stock valued at $10,213,630 in the last quarter. 1.01% of the stock is currently owned by company insiders.

An institutional investor recently bought a new position in The Coca-Cola stock. OLD Mission Capital LLC bought a new stake in The Coca-Cola Company (NYSE:KO) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 4,950 shares of the company’s stock, valued at approximately $244,000. Institutional investors own 66.21% of the company’s stock.

KO has been the topic of a number of recent research reports. Citigroup upped their price objective on shares of The Coca-Cola from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday. Argus upped their price objective on shares of The Coca-Cola from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, June 17th. Royal Bank of Canada restated a “buy” rating and issued a $60.00 price objective on shares of The Coca-Cola in a report on Wednesday, June 23rd. Credit Suisse Group upped their price objective on shares of The Coca-Cola from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, JPMorgan Chase & Co. upped their price objective on shares of The Coca-Cola from $56.00 to $59.00 and gave the stock a “neutral” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $61.25.

The Coca-Cola Company Profile

The Coca-Cola Co is the nonalcoholic beverage company, which engages in the manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks, water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater, and Ice Dew.

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Earnings History for The Coca-Cola (NYSE:KO)

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