Brokers Issue Forecasts for The Coca-Cola Co’s FY2018 Earnings (KO)
The Coca-Cola Co (NYSE:KO) – Equities researchers at SunTrust Banks lifted their FY2018 earnings estimates for The Coca-Cola in a research report issued to clients and investors on Monday. SunTrust Banks analyst W. Chappell now forecasts that the company will earn $2.10 per share for the year, up from their previous forecast of $1.98.
KO has been the subject of several other research reports. Susquehanna Bancshares set a $41.00 target price on shares of The Coca-Cola and gave the stock a “hold” rating in a research note on Wednesday, November 15th. Goldman Sachs Group set a $45.00 target price on shares of The Coca-Cola and gave the stock a “sell” rating in a research note on Wednesday, November 15th. JPMorgan Chase & Co. set a $49.00 target price on shares of The Coca-Cola and gave the stock a “neutral” rating in a research note on Thursday, November 16th. Wells Fargo & Co upgraded shares of The Coca-Cola from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $46.72 to $51.00 in a research note on Tuesday, November 14th. Finally, Royal Bank of Canada set a $49.00 target price on shares of The Coca-Cola and gave the stock a “buy” rating in a research note on Sunday, November 12th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $48.76.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 25th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.49 by $0.01. The business had revenue of $9.08 billion for the quarter, compared to analyst estimates of $8.73 billion. The Coca-Cola had a net margin of 12.20% and a return on equity of 36.21%. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 earnings per share.
Hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC grew its position in shares of The Coca-Cola by 1,117.2% in the 2nd quarter. Janus Henderson Group PLC now owns 13,339,286 shares of the company’s stock worth $598,273,000 after buying an additional 12,243,387 shares during the period. Capital World Investors grew its stake in The Coca-Cola by 8.9% in the second quarter. Capital World Investors now owns 142,047,166 shares of the company’s stock valued at $6,370,815,000 after purchasing an additional 11,593,679 shares during the last quarter. Troy Asset Management Ltd purchased a new position in The Coca-Cola in the third quarter valued at about $260,266,000. Vanguard Group Inc. grew its stake in The Coca-Cola by 1.8% in the second quarter. Vanguard Group Inc. now owns 275,221,018 shares of the company’s stock valued at $12,343,662,000 after purchasing an additional 4,818,963 shares during the last quarter. Finally, Stifel Financial Corp grew its stake in The Coca-Cola by 12,733.6% in the third quarter. Stifel Financial Corp now owns 4,245,213 shares of the company’s stock valued at $191,194,000 after purchasing an additional 4,212,134 shares during the last quarter. 65.30% of the stock is owned by institutional investors and hedge funds.
In related news, insider J Alexander Douglas, Jr. sold 338,009 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $46.09, for a total transaction of $15,578,834.81. Following the completion of the transaction, the insider now owns 320,013 shares of the company’s stock, valued at $14,749,399.17. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.51% of the stock is currently owned by insiders.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.48 annualized dividend and a yield of 3.21%. The Coca-Cola’s dividend payout ratio is currently 140.95%.
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About The Coca-Cola
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets non-alcoholic beverage brands, primarily sparkling beverages and a range of still beverages, such as waters, flavored waters and enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, sports drinks, dairy and energy drinks.
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