Coca-Cola (NYSE:KO) Updates FY 2022 Earnings Guidance

Coca-Cola (NYSE:KOGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.44-$2.46 for the period, compared to the consensus earnings per share estimate of $2.46. The company issued revenue guidance of -.

Coca-Cola Stock Performance

Shares of KO opened at $63.38 on Friday. The company has a market cap of $274.10 billion, a PE ratio of 28.68, a price-to-earnings-growth ratio of 4.03 and a beta of 0.53. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.48. The stock has a 50-day moving average price of $62.49 and a 200-day moving average price of $62.40. Coca-Cola has a 12-month low of $52.28 and a 12-month high of $67.20.

Coca-Cola (NYSE:KOGet Rating) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. The firm had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $10.57 billion. Coca-Cola had a return on equity of 42.13% and a net margin of 23.16%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the company posted $0.68 EPS. As a group, equities analysts forecast that Coca-Cola will post 2.46 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 16th will be given a $0.44 dividend. The ex-dividend date is Thursday, September 15th. This represents a $1.76 dividend on an annualized basis and a yield of 2.78%. Coca-Cola’s payout ratio is 79.64%.

Analysts Set New Price Targets

KO has been the subject of a number of recent research reports. Credit Suisse Group set a $68.00 target price on Coca-Cola in a research report on Wednesday, July 20th. StockNews.com upgraded Coca-Cola from a hold rating to a buy rating in a research report on Saturday. HSBC boosted their target price on Coca-Cola from $68.00 to $72.00 and gave the stock a buy rating in a research report on Tuesday, April 26th. Cowen boosted their price objective on Coca-Cola from $65.00 to $68.00 and gave the company a market perform rating in a research report on Tuesday, April 26th. Finally, UBS Group boosted their target price on Coca-Cola from $70.00 to $72.00 and gave the company a buy rating in a research note on Wednesday, July 27th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Coca-Cola presently has an average rating of Moderate Buy and a consensus target price of $69.35.

Insiders Place Their Bets

In related news, Director Carolyn Everson purchased 983 shares of Coca-Cola stock in a transaction on Wednesday, July 27th. The stock was acquired at an average price of $62.29 per share, for a total transaction of $61,231.07. Following the completion of the transaction, the director now directly owns 1,500 shares in the company, valued at approximately $93,435. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO James Quincey sold 32,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $64.09, for a total transaction of $2,050,880.00. Following the completion of the sale, the chief executive officer now directly owns 351,737 shares of the company’s stock, valued at approximately $22,542,824.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carolyn Everson purchased 983 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The shares were acquired at an average cost of $62.29 per share, with a total value of $61,231.07. Following the completion of the purchase, the director now directly owns 1,500 shares in the company, valued at approximately $93,435. The disclosure for this purchase can be found here. Company insiders own 0.98% of the company’s stock.

Institutional Investors Weigh In On Coca-Cola

A number of institutional investors and hedge funds have recently bought and sold shares of KO. Fairfield Bush & CO. purchased a new position in shares of Coca-Cola in the 1st quarter valued at $77,000. Lumbard & Kellner LLC purchased a new position in shares of Coca-Cola in the 1st quarter valued at $126,000. Range Financial Group LLC purchased a new position in shares of Coca-Cola in the 1st quarter valued at $229,000. Signet Financial Management LLC increased its holdings in shares of Coca-Cola by 32.7% in the 1st quarter. Signet Financial Management LLC now owns 5,346 shares of the company’s stock valued at $331,000 after acquiring an additional 1,317 shares during the period. Finally, Walleye Capital LLC purchased a new position in Coca-Cola during the 1st quarter worth $332,000. 68.51% of the stock is owned by institutional investors.

About Coca-Cola

(Get Rating)

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

Further Reading

Earnings History and Estimates for Coca-Cola (NYSE:KO)

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