The Coca-Cola (KO) Posts Earnings Results, Beats Estimates By $0.01 EPS
The Coca-Cola (NYSE:KO) announced its quarterly earnings data on Friday. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01, Bloomberg Earnings reports. The firm had revenue of $7.51 billion during the quarter, compared to analysts’ expectations of $7.36 billion. The Coca-Cola had a net margin of 12.20% and a return on equity of 36.21%. The business’s quarterly revenue was down 20.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.37 earnings per share. The Coca-Cola updated its FY18 guidance to $2.06-2.10 EPS.
Shares of The Coca-Cola (NYSE KO) opened at $44.98 on Friday. The firm has a market cap of $191,644.80, a P/E ratio of 166.59, a PEG ratio of 3.63 and a beta of 0.70. The company has a current ratio of 1.39, a quick ratio of 1.30 and a debt-to-equity ratio of 1.47. The Coca-Cola has a 12-month low of $41.05 and a 12-month high of $48.62.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Wednesday, March 14th. This is an increase from The Coca-Cola’s previous quarterly dividend of $0.37. The Coca-Cola’s payout ratio is currently 548.15%.
In other news, CFO Kathy N. Waller sold 23,240 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $46.15, for a total transaction of $1,072,526.00. Following the completion of the sale, the chief financial officer now owns 123,796 shares in the company, valued at approximately $5,713,185.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Edward Long sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $47.95, for a total transaction of $719,250.00. Following the sale, the insider now owns 24,673 shares of the company’s stock, valued at approximately $1,183,070.35. The disclosure for this sale can be found here. Insiders have sold a total of 122,640 shares of company stock valued at $5,800,776 in the last 90 days. Insiders own 1.51% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in KO. Santori & Peters Inc. purchased a new stake in The Coca-Cola in the 4th quarter valued at $127,000. Veritas Investment Management LLP purchased a new stake in The Coca-Cola in the 3rd quarter valued at $135,000. Spectrum Management Group Inc. purchased a new stake in The Coca-Cola in the 3rd quarter valued at $137,000. Eagle Ridge Investment Management purchased a new stake in The Coca-Cola in the 2nd quarter valued at $138,000. Finally, Legacy Advisors LLC purchased a new stake in The Coca-Cola in the 3rd quarter valued at $139,000. Hedge funds and other institutional investors own 65.34% of the company’s stock.
The Coca-Cola Company Profile
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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