FY2020 Earnings Forecast for The Coca-Cola Company Issued By Gabelli (KO)
The Coca-Cola Company (NYSE:KO) – Gabelli lowered their FY2020 earnings per share estimates for The Coca-Cola in a research report issued on Wednesday, April 25th. Gabelli analyst D. Witkowski now expects that the company will post earnings per share of $2.40 for the year, down from their prior estimate of $2.45.
Several other equities research analysts also recently issued reports on the company. Royal Bank of Canada set a $56.00 price target on The Coca-Cola and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Credit Suisse Group reiterated a “buy” rating on shares of The Coca-Cola in a report on Tuesday, February 13th. Morningstar set a $48.50 price objective on The Coca-Cola and gave the stock a “buy” rating in a report on Wednesday, February 28th. Susquehanna Bancshares set a $45.00 price objective on The Coca-Cola and gave the stock a “hold” rating in a report on Monday, February 12th. Finally, Vetr cut The Coca-Cola from a “strong-buy” rating to a “hold” rating and set a $47.54 price target for the company. in a research report on Monday, January 8th. Fourteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The Coca-Cola presently has an average rating of “Hold” and a consensus target price of $49.45.
The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, April 24th. The company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.01. The business had revenue of $7.60 billion for the quarter, compared to analyst estimates of $7.32 billion. The Coca-Cola had a return on equity of 39.54% and a net margin of 4.23%. The Coca-Cola’s quarterly revenue was down 16.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.43 EPS.
Several hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its position in shares of The Coca-Cola by 1,117.2% in the 2nd quarter. Janus Henderson Group PLC now owns 13,339,286 shares of the company’s stock worth $598,273,000 after buying an additional 12,243,387 shares in the last quarter. Capital World Investors lifted its holdings in shares of The Coca-Cola by 8.9% during the 2nd quarter. Capital World Investors now owns 142,047,166 shares of the company’s stock worth $6,370,815,000 after acquiring an additional 11,593,679 shares during the period. Ferox Capital Management LP acquired a new stake in The Coca-Cola during the 4th quarter worth approximately $8,213,000. Amundi Pioneer Asset Management Inc. increased its position in The Coca-Cola by 1,766.8% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 7,105,608 shares of the company’s stock worth $326,006,000 after purchasing an additional 6,724,982 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in The Coca-Cola by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 275,221,018 shares of the company’s stock worth $12,343,662,000 after purchasing an additional 4,818,963 shares in the last quarter. Hedge funds and other institutional investors own 66.03% of the company’s stock.
In related news, insider Jennifer K. Mann sold 1,883 shares of the firm’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $45.00, for a total transaction of $84,735.00. Following the completion of the sale, the insider now directly owns 98,995 shares in the company, valued at $4,454,775. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.48% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Friday, June 15th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.60%. The Coca-Cola’s dividend payout ratio is currently 81.68%.
The Coca-Cola Company Profile
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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