Coca-Cola (NYSE:KO) Releases FY24 Earnings Guidance

Coca-Cola (NYSE:KO) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.82 to $2.85 for the period, compared to the consensus estimate of $2.85. Coca-Cola also updated its FY 2024 guidance to 2.830-2.850 EPS.

Analysts Set New Price Targets

KO has been the subject of a number of analyst reports. Morgan Stanley reduced their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. TD Cowen increased their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, Truist Financial boosted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.87.

Coca-Cola Stock Up 0.2 %

Shares of KO stock traded up $0.12 on Friday, hitting $67.42. The stock had a trading volume of 3,437,956 shares, compared to its average volume of 13,215,902. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. Coca-Cola has a one year low of $55.10 and a one year high of $73.53. The business has a 50 day moving average price of $70.71 and a 200 day moving average price of $65.97. The company has a market cap of $290.44 billion, a PE ratio of 27.00, a P/E/G ratio of 3.92 and a beta of 0.60.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the firm earned $0.74 earnings per share. Research analysts anticipate that Coca-Cola will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 2.88%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insider Activity at Coca-Cola

In other news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 319,005 shares of company stock valued at $22,198,147 over the last 90 days. Insiders own 0.97% 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.