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.

Analyst Upgrades and Downgrades

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

Coca-Cola Stock Up 0.5 %

Shares of NYSE KO traded up $0.31 during mid-day trading on Thursday, reaching $62.24. 3,954,459 shares of the company were exchanged, compared to its average volume of 13,963,991. The company has a quick ratio of 0.95, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The stock has a market cap of $268.33 billion, a price-to-earnings ratio of 24.84, a P/E/G ratio of 3.53 and a beta of 0.57. Coca-Cola has a 1 year low of $51.55 and a 1 year high of $64.25. The firm has a 50-day moving average of $60.21 and a 200 day moving average of $59.04.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The firm had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 EPS. On average, 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 declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a $0.485 dividend. The ex-dividend date was Thursday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 dividend on an annualized basis and a yield of 3.12%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of 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 available at this link. In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of 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 available at this link. Also, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 442,546 shares of the company’s stock, 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 worth $19,657,742. 0.97% of the stock is owned by insiders.

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.