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COCA-COLA COMPANY (THE)

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Coca Cola : Coke Sales Suffer in Southern California Under New Distribution System

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02/12/2019 | 08:11am EST

WASHINGTON, Feb. 11 -- The International Brotherhood of Teamsters issued the following news release:

* * *

- Teamsters to Host Call for Coca-Cola Investors and Industry Analysts Wednesday, Feb. 13, 11 a.m. EST

* * *

The Teamsters Union will host a conference call Wednesday, February 13 at 11:00 a.m. EST for Coca-Cola Co. (NYSE: KO) investors and industry analysts to discuss the impact of distribution changes on Coca-Cola sales and service across Southern California.

Reyes Coca-Cola Bottling, a subsidiary of Reyes Holdings, which acquired exclusive bottling and distribution rights of Coca-Cola products for California and Nevada in October 2017, has begun implementing a new "static routing" delivery program in Southern California that is creating significant disruption in the sale and distribution of Coca-Cola products according to a recent survey of Coke retailers.

What: Call for Coca-Cola Investors, Industry Analysts Hosted by Teamsters

When: February 13, 2019 at 11:00 a.m. EST.

To Register: Email: dwillett@teamster.org and a call-in number will be provided

The International Brotherhood of Teamsters, which represents more than 13,000 Coca-Cola bottling and distribution workers across North America including more than 5,000 working for Reyes Holdings, conducted a survey of retail customers across the metro Los Angeles and San Diego markets beginning in November 2018.

"With more than a hundred participating retailers, the Teamster survey provides valuable insight into the impact the distribution changes are having on Coca-Cola sales and service and raise important questions for investors about how Coke will protect its interests from cost saving strategies of private distributors," said Greg Nowak, Director of the Teamsters Brewery and Soft Drink Workers' Conference."

Reyes' alternate distribution system, which the company intends to roll out in Northern California in the coming weeks, has also impacted Teamster jobs in Southern California, creating tension ahead of contract negotiations. Teamster contracts covering more than a thousand Reyes Coca-Cola workers in California expire in 2019 and 2020.

The International Brotherhood of Teamsters represents 1.4 million hardworking men and women in the U.S., Canada and Puerto Rico.

© 2019 Targeted News Service, source News Service

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Financials ($)
Sales 2019 34 592 M
EBIT 2019 11 296 M
Net income 2019 9 128 M
Debt 2019 34 985 M
Yield 2019 3,68%
P/E ratio 2019 21,16
P/E ratio 2020 19,65
EV / Sales 2019 6,56x
EV / Sales 2020 6,27x
Capitalization 192 B
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 50,8 $
Spread / Average Target 13%
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Managers
NameTitle
James Quincey Chief Executive Officer & Director
Brian John S. Smith President & Chief Operating Officer
Ahmet Muhtar Kent Chairman
Kathy N. Waller Chief Financial Officer & Executive Vice President
Nancy W. Quan Chief Technology Officer & Senior Vice President
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