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The Coca-Cola Company (NYSE:KO) is the world’s largest beverage manufacturer and distributor, with more than 500 brands available in more than 200 countries.
The company hasn’t missed consensus estimates for EPS and revenues for the last 14 quarters. On Tuesday, Coca-Cola reported its Q2 2024 earnings, posting an EPS of $0.84 and revenues of $12.36 billion, above the consensus estimates of $0.81 and $11.76 billion, respectively. As a result of the beat, Coca-Cola shares rose to a new 52-week high.
The 52-week range of Coca-Cola stock price was $51.55 to $66.89.
Coca-Cola’s stock dividend yield is 3.13%. It paid $2.09 per share in dividends during the last 12 months.
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The Latest On Coca-Cola
Following its most recent Q2 beat, Coca-Cola raised its full-year 2024 guidance for the second time this year. The company increased its 2024 organic revenue growth outlook from 8% – 9% to 9% – 10%.
“We are encouraged with our second quarter results, which delivered solid top-line and operating income growth in an ever-changing landscape. Together with our bottling partners, we continue to execute our highly effective all-weather strategy, and we are confident in our ability to deliver on our raised 2024 guidance and longer-term objectives,” said James Quincey, Chairman and CEO of The Coca‑Cola Company.
Following the quarterly report, several analysts raised their price targets for Coca-Cola. Citigroup raised its target to $75 from $72 while reiterating its Buy Rating. Deutsche Bank adjusted its target to $65 from $64, maintaining its Hold rating, while Wells Fargo increased the target to $73 from $70, keeping its Overweight rating unchanged.
According to Benzinga Pro, Coca-Cola has a consensus rating of Buy and a price target of $69.86 based on the ratings of 21 analysts.
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How Can You Earn $100 Per Month As A Coca-Cola Investor?
If you want to make $100 per month – $1,200 annually – from Coca-Cola dividends, your investment value needs to be approximately $38,338, which is 577 shares at $66.44 each.
Understanding the dividend yield calculations: When estimating, you need two key variables – the desired annual income ($1,200) and the dividend yield (3.13% in this case). So, $1,200 / 0.0313 = $38,338 to generate an income of $100 per month.
You can calculate the dividend yield by dividing the annual dividend payments by the stock’s current price.
The dividend yield can change over time due to fluctuating stock prices and dividend payments on a rolling basis.
For instance, assume a stock that pays $2 as an annual dividend is priced at $50. Its dividend yield would be $2/$50 = 4%. If the stock price rises to $60, the dividend yield drops to 3.33% ($2/$60). A drop in stock price to $40 will have an inverse effect and increase the dividend yield to 5% ($2/$40).
In summary, income-focused investors may find Coca-Cola stock an attractive option for making a steady income of $100 per month by owning 577 shares of stock. There may be more upside as investors benefit from the company’s consistent dividend hikes. Coca-Cola has raised its dividend consecutively for the last 62 years.
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This article How To Earn $100 Per Month From Coca-Cola Stock originally appeared on Benzinga.com