Organic sales grew by 16% during the quarter, shooting past the expected 9.6% growth, with the highest growth seen in Europe at 20%, Middle East & Africa at 18%, and North America at 14% growth. Operating margin was 29.5% of sales vs. 30.0% last year, almost remaining flat year-on-year (YoY), while revenues grew by 11%. For the rest of the year, Coca-Cola expects to deliver 14-15% organic revenue growth. Investors seemed to like what the beverage maker posted, as shares are up 2.48% at the time of writing.
KO chart and analysis
In the last month, KO has been trading in the $54.02 to $58.37 range, above the 20-day moving average. The stock is part of the beverages industry, with other 40 stocks in the same industry, outperforming 65% of them. Notably, technical analysis indicates a support zone from $53.77 to $54.73 and a resistance zone from $64.68 to $66.21. Analysts rate the stock a ‘strong buy,’ with the average price in the next 12 months for KO expected to reach $65.50, 13.77% higher than the current trading price of $57.57. Out of 14 Wall Street analysts, 11 have a ‘buy’ rating, and 3 have a ‘hold’ rating. With increasing organic revenue growth in a challenging economic environment and a steady and secure dividend yield of 3.06%, it is clear why KO often represents a cornerstone of dividend investors’ portfolios. If the company manages to continue growing organically, the stock will likely head higher, possibly confirming the bullishness on Wall Street. Buy stocks now with Interactive Brokers – the most advanced investment platform Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
