The Coca-Cola Co (NYSE:KO) declared a quarterly dividend on Thursday, July 18th, RTT News reports. Investors of record on Monday, September 16th will be given a dividend of 0.40 per share on Tuesday, October 1st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Friday, September 13th.
The Coca-Cola has raised its dividend by an average of 5.7% per year over the last three years and has increased its dividend every year for the last 56 years. The Coca-Cola has a payout ratio of 77.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect The Coca-Cola to earn $2.27 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 70.5%.
KO opened at $54.77 on Thursday. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.83 and a quick ratio of 0.71. The company’s 50-day moving average is $54.00 and its 200 day moving average is $50.00. The Coca-Cola has a fifty-two week low of $44.25 and a fifty-two week high of $55.92. The firm has a market capitalization of $233.13 billion, a P/E ratio of 26.33, a PEG ratio of 3.79 and a beta of 0.44.
The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The Coca-Cola had a net margin of 21.11% and a return on equity of 45.67%. The company had revenue of $10 billion for the quarter, compared to analyst estimates of $9.86 billion. During the same period last year, the firm earned $0.61 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. On average, equities research analysts expect that The Coca-Cola will post 2.1 earnings per share for the current year.
A number of research analysts recently weighed in on KO shares. Credit Suisse Group raised their price target on shares of The Coca-Cola from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $60.00 price objective on shares of The Coca-Cola in a research report on Wednesday, July 24th. Bank of America reaffirmed a “buy” rating and issued a $60.00 price objective (up previously from $55.00) on shares of The Coca-Cola in a research report on Wednesday, July 24th. Barclays set a $54.00 price objective on shares of The Coca-Cola and gave the stock a “buy” rating in a research report on Thursday, May 16th. Finally, SunTrust Banks lifted their price objective on shares of The Coca-Cola to $60.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $54.10.
In other news, SVP Beatriz R. Perez sold 14,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $53.40, for a total value of $747,600.00. Following the sale, the senior vice president now owns 108,457 shares of the company’s stock, valued at $5,791,603.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Nikolaos Koumettis sold 146,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $54.31, for a total transaction of $7,929,260.00. Following the completion of the sale, the insider now directly owns 244,451 shares in the company, valued at approximately $13,276,133.81. The disclosure for this sale can be found here. In the last three months, insiders sold 299,001 shares of company stock worth $16,206,741. Insiders own 1.33% of the company’s stock.
The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantbased 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.
Read More: Intrinsic Value
Receive News & Ratings for The Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.