The Coca-Cola Co (NYSE:KO) – Analysts at SunTrust Banks dropped their Q4 2018 earnings per share estimates for shares of The Coca-Cola in a research note issued to investors on Tuesday, October 30th. SunTrust Banks analyst W. Chappell now forecasts that the company will post earnings per share of $0.43 for the quarter, down from their prior estimate of $0.45. SunTrust Banks has a “Buy” rating and a $55.00 price target on the stock. SunTrust Banks also issued estimates for The Coca-Cola’s Q1 2019 earnings at $0.48 EPS, Q2 2019 earnings at $0.64 EPS, Q3 2019 earnings at $0.60 EPS, Q4 2019 earnings at $0.47 EPS, FY2019 earnings at $2.19 EPS and FY2020 earnings at $2.38 EPS.
Other analysts have also recently issued reports about the stock. Gabelli reaffirmed a “hold” rating on shares of The Coca-Cola in a report on Thursday, July 26th. Societe Generale set a $49.00 target price on shares of The Coca-Cola and gave the company a “neutral” rating in a report on Monday, August 13th. Jefferies Financial Group reaffirmed a “neutral” rating and set a $48.00 target price on shares of The Coca-Cola in a report on Wednesday, August 22nd. Wells Fargo & Co reaffirmed a “buy” rating and set a $52.00 target price on shares of The Coca-Cola in a report on Wednesday, September 5th. Finally, Bank of America reaffirmed a “buy” rating and set a $52.00 target price on shares of The Coca-Cola in a report on Tuesday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $51.07.
The Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, October 30th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.03. The Coca-Cola had a net margin of 8.70% and a return on equity of 43.12%. The firm had revenue of $8.25 billion during the quarter, compared to analysts’ expectations of $8.20 billion. During the same period in the previous year, the company earned $0.50 earnings per share. The firm’s quarterly revenue was down 9.2% on a year-over-year basis.
A number of hedge funds have recently bought and sold shares of the stock. Ascension Asset Management LLC increased its position in The Coca-Cola by 5.3% during the 2nd quarter. Ascension Asset Management LLC now owns 22,050 shares of the company’s stock valued at $967,000 after purchasing an additional 1,100 shares during the period. Country Club Trust Company n.a. boosted its holdings in shares of The Coca-Cola by 3.7% in the 3rd quarter. Country Club Trust Company n.a. now owns 30,995 shares of the company’s stock valued at $1,432,000 after buying an additional 1,100 shares in the last quarter. Jag Capital Management LLC boosted its stake in The Coca-Cola by 3.3% in the 2nd quarter. Jag Capital Management LLC now owns 34,844 shares of the company’s stock worth $1,528,000 after purchasing an additional 1,116 shares in the last quarter. Bontempo Ohly Capital Mgmt LLC boosted its stake in The Coca-Cola by 1.7% in the 2nd quarter. Bontempo Ohly Capital Mgmt LLC now owns 70,938 shares of the company’s stock worth $3,111,000 after purchasing an additional 1,172 shares in the last quarter. Finally, Accurate Investment Solutions Inc. boosted its stake in The Coca-Cola by 1.4% in the 3rd quarter. Accurate Investment Solutions Inc. now owns 85,659 shares of the company’s stock worth $3,957,000 after purchasing an additional 1,173 shares in the last quarter. 65.44% of the stock is currently owned by institutional investors.
In other news, SVP James L. Dinkins sold 8,754 shares of the stock in a transaction on Wednesday, October 24th. The shares were sold at an average price of $46.95, for a total value of $411,000.30. Following the sale, the senior vice president now owns 28,354 shares of the company’s stock, valued at $1,331,220.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.48% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Thursday, November 29th. The Coca-Cola’s dividend payout ratio is currently 81.68%.
The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plant?based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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