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September 01, 2020 1:41pm
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Market Update (NYSE:KO): UPDATE 1-SABMiller, Coke agree concessions with South Africa over bottling merger

[Reuters – UK Focus] – SABMiller (Xetra: BRW1.DE – news) and Coca-Cola have agreed concessions with the South African government to win approval for a deal to combine their soft-drink operations, the companies said on Wednesday. The concessions, agreed with the South African Ministry of Economic Development, include a three-year freeze on layoffs and the companies investing 800 million rand ($54 million) to support small South African businesses. SABMiller, which is in the process of the being taken over by larger rival Anheuser-Busch InBev, agreed in November 2014 to team up with Coke to create Africa’s largest soft drinks bottler, Coca Cola Beverages Africa. Read more on this. The Coca-Cola Company (KO) , with a current market cap of $194.72B, opened at $44.72. During today’s session, KO traded between $44.51 to $45.11 with the price of the stock fluctuating between $36.56 to $47.13 over the last 52 weeks. Coca-Cola (KO) shares are currently priced at 23.11x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 20.11x earnings multiple for the same period. And for passive income investors, the company pays shareholders $1.40 per share annually in dividends, yielding 3.13%. Consensus earnings for the current quarter by the 19 sell-side analysts covering the stock is an estimate of $0.59 per share, which would be $0.04 worse than the year-ago quarter and a $0.02 sequential decrease. The full-year EPS estimate is $1.94 which would be a $0.06 worse than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $11.76 Billion. If realized, that would be a 3.21% decrease over the year-ago quarter. More recently, Societe Generale upgraded KO from Sell to Hold (Feb 10, 2016). Previously, Stifel upgraded KO from Hold to Buy. The average price target for KO shares by the analysts covering the stock is $48.29, which is 7.98% above where the stock opened this morning. See more in (NYSE:KO) Similar Articles: Market Update (NYSE:KO): Coca-Cola Sings a Different Tune with the Pitch-Perfect Return of “Share a Coke®…and a Song” Company Update: The Coca-Cola Company (NYSE:KO) – Diet Coke® Delights Fans Nationwide with Millions of Unique, Colorful Package Designs Market Update: The Coca-Cola Company (NYSE:KO) – European Coca-Cola bottlers merger win EU antitrust approval
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