In the latest trading session, 1.66 million The Coca-Cola Company (NYSE:KO) shares changed hands as the company’s beta touched 0.55. With the company’s most recent per share price at $58.09 changed hands at -$0.21 or -0.36% at last look, the market valuation stands at $253.46B. KO’s current price is a discount, trading about -11.88% off its 52-week high of $64.99. The share price had its 52-week low at $54.01, which suggests the last value was 7.02% up since then. When we look at The Coca-Cola Company’s average trading volume, we note the 10-day average is 17.97 million shares, with the 3-month average coming to 12.54 million.
Analysts gave the The Coca-Cola Company (KO) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 0 out of 25 analysts rate the stock as a Sell, with a further 5 assigning it an Overweight rating. Of the remaining, 6 recommended KO as a Hold, 14 felt it is a Buy and 0 rated the stock as Underweight. The Coca-Cola Company’s EPS for the current quarter is expected to be $0.7.
The Coca-Cola Company (NYSE:KO) trade information
Instantly KO was in red as seen in intraday trades today. With action -0.36%, the performance over the past five days has been red. The drop to weekly highs of 58.68 on Monday, 09/18/23 subtracted -0.36% to the stock’s daily price. The company’s shares are showing year-to-date downside of -8.68%, with the 5-day performance at -0.36% in the red. However, in the 30-day time frame, The Coca-Cola Company (NYSE:KO) is -4.69% down. Looking at the short shares, we see there were 22.87 million shares sold at short interest cover period of 2.49 days.
The consensus price target for the stock as assigned by Wall Street analysts is $70.32, meaning bulls need an upside of 17.39% from its recent market value. According to analyst projections, KO’s forecast low is $63.00 with $76.00 as the target high. To hit the forecast high, the stock’s price needs a -30.83% plunge from its current level, while the stock would need to soar -8.45% for it to hit the projected low.
The Coca-Cola Company (KO) estimates and forecasts
Data shows that the The Coca-Cola Company share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -4.14% over the past 6 months, a 6.05% in annual growth rate that is considerably lower than the industry average of 30.10%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for The Coca-Cola Company will rise 1.40%, while the growth in revenue is estimated to hit 8.90% for the next quarter. Year-over-year growth is forecast to reach 4.70% up from the last financial year.
Consensus estimates given by 11 financial analysts project the company’s revenue in the current quarter to hit an average of $11.47 billion. 11 analysts are of the opinion that The Coca-Cola Company’s revenue for the quarter ending Dec 2023 will be $10.7 billion. The company’s revenue for the corresponding quarters a year ago was $10.52 billion and $10.2 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 9.00%. The estimates for the next quarter sales put growth at 4.90%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 14.30%. The 2023 estimates are for The Coca-Cola Company earnings to decrease by -2.60%, but the outlook for the next 5-year period is at 6.38% per year.
The Coca-Cola Company is expected to release its next quarterly earnings report between October 23 and October 27. The 3.17% annual yield figure for the share gives it an annual dividend of 1.84. It is important to note, however, that the 3.17% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
The Coca-Cola Company (NYSE:KO)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.67% of The Coca-Cola Company shares while 71.53% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 72.01%. There are 71.53% institutions holding the The Coca-Cola Company stock share, with Berkshire Hathaway, Inc the top institutional holder. As of Jun 29, 2023, the company held 9.25% of the shares, roughly 400.0 million KO shares worth $23.19 billion.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 8.55% or 369.88 million shares worth $21.44 billion as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 121.15 million shares estimated at $7.02 billion under it, the former controlled 2.80% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.14% of the shares, roughly 92.67 million shares worth around $5.37 billion.