The SunTrust Banks Comments on Coca-Cola Co.’s FY2016 Earnings (KO)

The SunTrust Banks Comments on Coca-Cola Co.’s FY2016 Earnings (KO)

Coca-Cola Co. (NYSE:KO) – Equities research analysts at SunTrust Banks upped their FY2016 earnings estimates for Coca-Cola in a report released on Wednesday. SunTrust Banks analyst W. Chappell now expects that the brokerage will post earnings per share of $1.90 for the year, up from their previous estimate of $1.89. SunTrust Banks has a “Buy” rating on the stock.

A number of other research firms also recently weighed in on KO. Deutsche Bank AG restated a “buy” rating on shares of Coca-Cola in a report on Sunday, July 24th. Sanford C. Bernstein restated an “outperform” rating and issued a $49.00 target price on shares of Coca-Cola in a report on Wednesday, August 10th. Vetr upgraded shares of Coca-Cola from a “buy” rating to a “strong-buy” rating and set a $49.32 target price on the stock in a report on Tuesday, August 2nd. BMO Capital Markets restated an “outperform” rating on shares of Coca-Cola in a report on Friday, July 15th. Finally, Susquehanna restated a “hold” rating on shares of Coca-Cola in a report on Sunday, July 17th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $46.60.

Coca-Cola (NYSE:KO) opened at 42.23 on Monday. The stock has a market capitalization of $182.14 billion, a price-to-earnings ratio of 25.61 and a beta of 0.59. Coca-Cola has a 12-month low of $40.75 and a 12-month high of $47.13. The stock’s 50 day moving average is $42.15 and its 200 day moving average is $44.04.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 26th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Coca-Cola had a net margin of 16.99% and a return on equity of 32.47%. The firm earned $10.60 billion during the quarter, compared to analyst estimates of $10.47 billion. During the same period last year, the business earned $0.51 earnings per share. The business’s revenue was down 6.9% on a year-over-year basis.

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Coca-Cola by 2.0% in the second quarter. Vanguard Group Inc. now owns 273,897,295 shares of the company’s stock valued at $12,415,764,000 after buying an additional 5,478,675 shares during the last quarter. State Street Corp boosted its stake in shares of Coca-Cola by 0.9% in the first quarter. State Street Corp now owns 167,467,138 shares of the company’s stock valued at $7,768,816,000 after buying an additional 1,511,559 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Coca-Cola by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 102,413,710 shares of the company’s stock valued at $4,750,972,000 after buying an additional 843,493 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Coca-Cola by 4.1% in the second quarter. Capital Research Global Investors now owns 79,080,741 shares of the company’s stock valued at $3,584,730,000 after buying an additional 3,091,367 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its stake in shares of Coca-Cola by 4.7% in the second quarter. BlackRock Fund Advisors now owns 58,761,795 shares of the company’s stock valued at $2,663,672,000 after buying an additional 2,641,790 shares during the last quarter. 64.28% of the stock is owned by hedge funds and other institutional investors.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be given a $0.35 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $1.40 annualized dividend and a dividend yield of 3.32%. Coca-Cola’s payout ratio is presently 84.85%.

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