![]() ![]() ![]() PepsiCo in recent weeks also raised its annual revenue and profit forecasts, also beating second-quarter results. Over the past 12 months, Coca-Cola’s lowest closing price was in late October, when it closed at $54.39 a share. In early afternoon, shares of Coca-Cola were trading at $62.99 a share, up 74 cents. Nelson said he continues to rate Coca-Cola a “buy,” projecting that its stock price will rise at least $2 a share to $68 within the next year. “The higher inflation gets, the more you have to follow it.”Ĭoca-Cola earnings were better than the consensus of analyst expectations, continuing a 6-year streak, according to Garrett Nelson, stock analyst at CFRA. The total mix of prices charged for its products is up about 10% from a year ago, the company said. And - also like many competitors - Coca-Cola saw some slippage in the volume of some products sold. ![]() The company, like many competitors, raised prices of many of its products significantly in the past year. “Inflation pressures are beginning to moderate.” While some critical food components - like sugar and juice - are still seeing increases in prices, many other materials are not, he said. “A principal feature is a renormalization post-COVID.” While many factors are in flux, the overall trajectory has been away from chaos, Quincey said. Moreover, economies are still emerging from the changes in behavior and expectations caused by the pandemic. The company’s global business has weathered a year of sometimes painful inflation, as well as the need any global business has to account for swings in the value of many different currencies against the dollar. ![]()
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