Coca-Cola (NYSE:KO) Issues FY 2024 Earnings Guidance

Coca-Cola (NYSE:KO) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 2.800-2.830 for the period, compared to the consensus EPS estimate of 2.630. The company issued revenue guidance of -. Coca-Cola also updated its FY24 guidance to $2.80-$2.82 EPS.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. UBS Group upped their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a buy rating in a research report on Wednesday. Citigroup upped their price target on Coca-Cola from $67.00 to $68.00 and gave the company a buy rating in a research note on Wednesday, January 17th. JPMorgan Chase & Co. upped their price target on Coca-Cola from $65.00 to $68.00 and gave the company an overweight rating in a research note on Wednesday. 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 report on Wednesday. Finally, Barclays upped their price target on Coca-Cola from $66.00 to $68.00 and gave the stock an overweight rating in a research report on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $68.18.

Coca-Cola Price Performance

KO stock traded up $0.14 during midday trading on Wednesday, reaching $61.91. The company had a trading volume of 5,099,277 shares, compared to its average volume of 13,942,095. Coca-Cola has a 1-year low of $51.55 and a 1-year high of $64.25. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.13 and a quick ratio of 0.95. The stock has a 50 day moving average price of $60.19 and a 200-day moving average price of $59.02. The company has a market capitalization of $266.91 billion, a price-to-earnings ratio of 24.92, a price-to-earnings-growth ratio of 3.54 and a beta of 0.59.

Coca-Cola (NYSE:KO) last released its earnings results 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. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The firm had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter in the previous year, the business posted $0.68 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts expect that Coca-Cola will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Thursday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s payout ratio is currently 78.23%.

Insider Transactions at Coca-Cola

In other news, EVP Nancy Quan sold 57,368 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $13,594,097.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the business’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 value of $1,102,114.91. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Nancy Quan sold 57,368 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $13,594,097.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 323,107 shares of company stock worth $19,657,742. 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.