Q3 2024 EPS Estimates for The Coca-Cola Company Reduced by Analyst (NYSE:KO)

The Coca-Cola Company (NYSE:KO) – Research analysts at Wedbush cut their Q3 2024 earnings estimates for shares of Coca-Cola in a note issued to investors on Wednesday, May 1st. Wedbush analyst G. Pascarelli now expects that the company will earn $0.75 per share for the quarter, down from their prior estimate of $0.76. The consensus estimate for Coca-Cola’s current full-year earnings is $2.81 per share. Wedbush also issued estimates for Coca-Cola’s Q2 2025 earnings at $0.89 EPS, Q3 2025 earnings at $0.82 EPS and Q4 2025 earnings at $0.57 EPS.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $11.30 billion for the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. Coca-Cola’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $0.68 earnings per share.

KO has been the topic of several other research reports. JPMorgan Chase & Co. lifted their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday. Citigroup upped their price objective on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Barclays raised their target price on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday. UBS Group boosted their target price on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Evercore ISI increased their price target on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.27.

Coca-Cola Trading Up 0.3 %

NYSE KO opened at $62.17 on Friday. The stock has a market capitalization of $268.03 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 3.54 and a beta of 0.57. The business’s fifty day moving average is $60.24 and its 200-day moving average is $59.12. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.95. Coca-Cola has a one year low of $51.55 and a one year high of $64.25.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. ZRC Wealth Management LLC lifted its holdings in shares of Coca-Cola by 213.3% during the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares during the last quarter. Tidemark LLC purchased a new position in Coca-Cola during the fourth quarter valued at $26,000. Private Wealth Management Group LLC bought a new stake in Coca-Cola in the fourth quarter worth $27,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Coca-Cola in the first quarter worth $28,000. Finally, Criterion Capital Advisors LLC bought a new position in shares of Coca-Cola during the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 247,188 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $26,968,753.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total value of $1,102,114.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $26,968,753.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 323,107 shares of company stock valued at $19,657,742. Insiders own 0.97% of the company’s stock.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s payout ratio is 77.60%.

About Coca-Cola

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.