Gabelli Weighs in on The Coca-Cola Co’s FY2022 Earnings (KO)

The Coca-Cola Co (NYSE:KO) – Investment analysts at Gabelli lowered their FY2022 earnings estimates for shares of The Coca-Cola in a research note issued on Wednesday, October 31st. Gabelli analyst D. Witkowski now anticipates that the company will post earnings of $2.70 per share for the year, down from their prior estimate of $2.75. Gabelli currently has a “Hold” rating on the stock.

A number of other research firms have also recently weighed in on KO. Morgan Stanley set a $50.00 price objective on shares of The Coca-Cola and gave the stock a “neutral” rating in a report on Monday, October 15th. Macquarie set a $47.00 target price on shares of The Coca-Cola and gave the company a “neutral” rating in a report on Friday, September 14th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $50.00 target price on shares of The Coca-Cola in a report on Thursday, July 26th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $48.00 target price on shares of The Coca-Cola in a report on Friday, August 31st. Finally, Wells Fargo & Co reaffirmed a “buy” rating and issued a $52.00 target price on shares of The Coca-Cola in a report on Wednesday, September 5th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $51.07.

KO stock remained flat at $$47.88 during midday trading on Thursday. 1,459,975 shares of the company’s stock were exchanged, compared to its average volume of 14,210,944. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.26. The Coca-Cola has a 12 month low of $41.45 and a 12 month high of $48.62. The firm has a market capitalization of $203.19 billion, a PE ratio of 25.07, a P/E/G ratio of 3.00 and a beta of 0.75.

The Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, October 30th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. The Coca-Cola had a net margin of 8.70% and a return on equity of 43.12%. The company had revenue of $8.25 billion for the quarter, compared to analysts’ expectations of $8.20 billion. During the same quarter last year, the company earned $0.50 earnings per share. The firm’s revenue for the quarter was down 9.2% on a year-over-year basis.

A number of institutional investors and hedge funds have recently made changes to their positions in KO. Clarus Wealth Advisors purchased a new stake in shares of The Coca-Cola during the 2nd quarter worth $101,000. WP Advisors LLC purchased a new stake in shares of The Coca-Cola during the 2nd quarter worth $107,000. Signature Estate & Investment Advisors LLC purchased a new stake in shares of The Coca-Cola during the 2nd quarter worth $116,000. Westbourne Investment Advisors Inc. purchased a new stake in shares of The Coca-Cola during the 3rd quarter worth $117,000. Finally, Fort L.P. purchased a new stake in shares of The Coca-Cola during the 2nd quarter worth $122,000. 65.44% of the stock is currently owned by institutional investors.

In other The Coca-Cola news, SVP James L. Dinkins sold 8,754 shares of the business’s stock in a transaction on Wednesday, October 24th. The shares were sold at an average price of $46.95, for a total value of $411,000.30. Following the transaction, the senior vice president now directly owns 28,354 shares of the company’s stock, valued at approximately $1,331,220.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.48% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be paid a $0.39 dividend. The ex-dividend date is Thursday, November 29th. This represents a $1.56 annualized dividend and a yield of 3.26%. The Coca-Cola’s dividend payout ratio is currently 81.68%.

About The Coca-Cola

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plant?based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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Earnings History and Estimates for The Coca-Cola (NYSE:KO)

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