Coca-Cola (NYSE:KO – Get Free Report) posted its quarterly earnings results on Tuesday. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03, Briefing.com reports. Coca-Cola had a return on equity of 43.49% and a net margin of 22.92%. The firm had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. During the same quarter last year, the firm earned $0.78 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Coca-Cola updated its FY24 guidance to $2.82-2.85 EPS and its FY 2024 guidance to 2.830-2.850 EPS.
Coca-Cola Stock Performance
Shares of KO traded up $0.26 during mid-day trading on Thursday, hitting $66.07. 16,089,322 shares of the company’s stock were exchanged, compared to its average volume of 12,890,431. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. Coca-Cola has a fifty-two week low of $51.55 and a fifty-two week high of $66.89. The business’s 50 day moving average is $63.34 and its two-hundred day moving average is $61.41. The firm has a market capitalization of $284.63 billion, a P/E ratio of 26.48, a P/E/G ratio of 3.66 and a beta of 0.59.
Coca-Cola Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date was Friday, June 14th. Coca-Cola’s dividend payout ratio is currently 77.60%.
Wall Street Analysts Forecast Growth
Read Our Latest Analysis on KO
Insider Activity at Coca-Cola
In other Coca-Cola news, EVP Beatriz R. Perez sold 57,298 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the sale, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Beatriz R. Perez sold 57,298 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total value of $3,551,903.02. Following the completion of the sale, the executive vice president now owns 167,107 shares in the company, valued at approximately $10,358,962.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Monica Howard Douglas sold 8,874 shares of Coca-Cola stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $63.31, for a total transaction of $561,812.94. Following the completion of the sale, the executive vice president now directly owns 33,638 shares in the company, valued at approximately $2,129,621.78. The disclosure for this sale can be found here. Insiders have sold 841,588 shares of company stock worth $568,972,027 in the last quarter. Company insiders own 0.97% of the company’s stock.
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.
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