Coca-Cola Amatil Ltd, which is 29%-owned by The Coca-Cola Company (NYSE:KO) and produces and distributes the popular Coke fizzy drink and a range of premium spirits, reported on Wednesday that it anticipates net profit before major items to moved up in the range of 4% to 5% in 2012, as weak trading conditions in New Zealand and at its food unit damage earnings expansion.
Managing Director Terry Davies reported in a statement to the stock exchange that earnings expansion had been damage by almost 2% for the year due to a softening New Zealand economy and a high Australian dollar which damages the competitiveness of its SPC Ardmona fruit-processing unit against cheaper imports.
Coca-Cola Amatil, Australia’s biggest beverages corporation, also reported that it had acquired a warehousing facility in Papua New Guinea for A$28 million.
Its competitors include The Procter & Gamble Company (NYSE:PG) that increased +0.25% to $70.83 with the total traded volume of 1.72 million shares and Wal-Mart Stores, Inc (NYSE:WMT) that dropped -2.40% to $69.20 with the total traded volume of 7.35 million shares.
Other Consumer Goods stocks with bullish trend include Altria Group, Inc (NYSE:MO) up +0.58% to $33.15, St. Jude Medical, Inc (NYSE:STJ) up 0.31% to $35.49 and General Motors Company (NYSE:GM) up +0.43% to $25.56, whereas with bearish trend include Ford Motor Company (NYSE:F) down -0.44% to $11.44, Mondelez International Inc (NASDAQ:MDLZ) down -0.80% to $25.93 and PepsiCo, Inc (NYSE:PEP) down –0.03% to $70.40.
The Coca-Cola Company (NYSE:KO) stock’s trade at beginning with a price of $37.89 and the current trading session climbed at a high of $37.93 other than the stock finally basic 0.82% to $37.55.
Shares price of KO moved down from its 20 days moving average with +1.17% and remote positively from 50 days moving average with +0.94%. KO current year earnings per share experienced a downfall of -27.10% while its current quarter performance remained +1.91%.
KO has a trade volume of 3.44 million shares is lesser as compared to average trading capacity of 12.10 million shares.
KO last month stock price volatility remained 1.17%. In its share capital KO has 4.49 Billion outstanding shares among them 4.26 Billion shares have been floated in market exchange. KO stock institutional ownership remained 62.15%.
The stock is ahead its 52 week low with +17.00% and lagging behind from its 52 week high price with -6.29%. Company’s beta coefficient included 0.51. Beta factors measures the amount of market risk associated with market trade.
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