Coca-Cola Co (NYSE: KO): Get Ready For The Next Few Months

In today’s recent session, 2.59 million shares of the Coca-Cola Co (NYSE:KO) have been traded, and its beta is 0.59. Most recently the company’s share price was $60.76, and it changed around -$0.42 or -0.69% from the last close, which brings the market valuation of the company to $262.00B. KO at last check was trading at a discount to its 52-week high of $64.99, offering almost -6.96% off that amount. The share price’s 52-week low was $51.55, which indicates that the recent value has risen by an impressive 15.16% since then. We note from Coca-Cola Co’s average daily trading volume that its 10-day average is 13.71 million shares, with the 3-month average coming to 14.11 million.

Coca-Cola Co stock received a consensus recommendation rating of Buy, based on a mean score of 1.72. If we narrow it down even further, the data shows that 0 out of 25 analysts rate the stock as a Sell; another 5 rate it as Overweight. Among the rest, 6 recommended KO as a Hold, whereas 14 deemed it a Buy, and 0 rated it as Underweight. Coca-Cola Co is expected to report earnings per share of $0.7 for the current quarter.

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Coca-Cola Co (NYSE:KO) trade information

Instantly KO has been showing red trend so far today with a performance of -0.69% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently up 3.10% year-to-date, but still up 0.44% over the last five days. On the other hand, Coca-Cola Co (NYSE:KO) is 1.22% up in the 30-day period. We can see from the shorts that 23.86 million shares have been sold at a short interest cover period of 1.68 day(s).

The consensus price target as assigned by Wall Street analysts is $72.57, which translates to bulls needing to increase their stock price by 16.27% from its current value. Analyst projections state that KO is forecast to be at a low of $60 and a high of $162.

Coca-Cola Co (KO) estimates and forecasts

Coca-Cola Co share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 8.86 percent over the past six months and at a 4.46% annual growth rate that is well below the industry average of 20.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 2.90% in revenue this quarter, and will report an increase of 3.80% in the next quarter. The year-over-year growth rate is expected to be 0.10%, up from the previous year.

Consensus estimates provided by 12 financial analysts predict the company will bring in an average of $11.07 billion in revenue for the current quarter. 12 analysts expect Coca-Cola Co to make $11.87 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $10.96 billion and $11.75 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 1.00%. Forecasts for the next quarter put sales growth at 1.00%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 10.53%. Coca-Cola Co earnings are expected to increase by 4.62% in 2024, but the outlook is positive 6.21% per year for the next five years.

KO Dividends

Coca-Cola Co’s next quarterly earnings report is expected to be released on April 30. The annual dividend yield of the stock is 3.07 percent and its annual dividend per share was 1.86. It is important to note, however, that the 3.07% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Coca-Cola Co (NYSE:KO)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 9.95% of Coca-Cola Co shares, and 62.95% of them are in the hands of institutional investors. The stock currently has a share float of 69.91%. Coca-Cola Co stock is held by 3,790 institutions, with Berkshire Hathaway, Inc being the largest institutional investor. By Jun 29, 2023, it held 9.25% of the shares, which is about 400.0 million shares worth $24.09 billion.

Vanguard Group Inc, with 8.55% or 369.88 million shares worth $22.27 billion as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 121.15 million shares worth $7.3 billion, making up 2.80% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 92.67 million shares worth around $5.58 billion, which represents about 2.14% of the total shares outstanding.