Coca-Cola (NYSE:KO) Updates FY 2024 Earnings Guidance

Coca-Cola (NYSE:KO) issued an update on its FY 2024 earnings guidance on Tuesday morning. 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.

Analysts Set New Price Targets

Several analysts recently issued reports on KO shares. Evercore ISI increased their price objective on Coca-Cola from $67.00 to $70.00 and gave the stock an outperform rating in a report on Wednesday. UBS Group boosted their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a buy rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the company an overweight rating in a research report on Wednesday. Barclays raised their price objective on Coca-Cola from $68.00 to $69.00 and gave the stock an overweight rating in a research report on Thursday. Finally, Citigroup upped their target price on Coca-Cola from $67.00 to $68.00 and gave the company a buy rating in a research note on Wednesday, January 17th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Coca-Cola currently has a consensus rating of Moderate Buy and an average price target of $68.27.

Coca-Cola Price Performance

Shares of KO traded up $0.18 on Friday, hitting $62.18. The company’s stock had a trading volume of 11,627,983 shares, compared to its average volume of 14,021,238. The company has a market capitalization of $268.05 billion, a PE ratio of 24.87, a PEG ratio of 3.54 and a beta of 0.57. Coca-Cola has a fifty-two week low of $51.55 and a fifty-two week high of $64.25. The company has a 50 day moving average price of $60.22 and a 200 day moving average price of $59.06. 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 (NYSE:KO) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate 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 net margin of 23.41% and a return on equity of 42.74%. Coca-Cola’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 EPS. On average, research analysts anticipate that Coca-Cola will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Friday, June 14th. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at $13,594,097.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Quincey sold 247,188 shares of the 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 completion of the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 323,107 shares of company stock valued at $19,657,742. 0.97% of the stock is currently 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.