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Coca-Cola Employees Go on Strike in Toledo, Is the Stock a Buy?

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Employees working at Coca-Cola’s bottling company in Toledo went on strike on Monday, Nov. 2. On Nov. 1, members of the union associated with Teamsters Local 20 gathered at the union hall for a vote.

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Why is there a Coca-Cola strike in Toledo?

Teamsters Local 20, which represents workers at Coca-Cola in Toledo said that they are going on strike. The strike started at 12:01 a.m. ET on Nov. 2 due to contract negotiations. The employees have voted down the company’s final offer. The strike will likely continue until an agreement is met. We don't know how many employees might be impacted by this decision.

Coke Strike In Toledo
Source: Pixabay
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When was Coca Cola founded?

The Coca-Cola Company was founded in 1892 by Asa Griggs Candler. It's a multinational beverage company headquartered in Atlanta. The Coca-Cola Corporation is the world's leading plastic waste manufacturer.

Why is there a Vanilla Coke and Diet Coke shortage in 2020?

The coronavirus pandemic has led to a shortage of popular soft drinks Vanilla Coke and Diet Coke. There's a shortage of aluminum as well as huge demand for Coca-Cola products amid the COVID-19 pandemic. Coca-Cola also faced a shortage of artificial sweeteners required for diet drinks. 

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What is Coca-Cola’s stock forecast?

Coca-Cola stock was up about 1.2 percent at $48.66 in pre-market trading as of 8:44 a.m. ET on Nov. 2. The stock rose 0.1 percent on Oct. 30 and closed at $48.06 with a market capitalization of $206.5 billion. Coca-Cola stock is trading 20.1 percent below its 52-week high of $60.13 and 32.5 percent above its 52-week low of $36.27. Year-to-date, the stock has fallen by 13.2 percent as of Oct. 30.

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Currently, analysts' average stock price forecast for Coca-Cola is $56.40, which suggests a 17.4 percent upside. The highest target price of $61 implies a 26.9 percent upside, while the lowest target of $51 suggests a 6.1 percent upside. Among the 25 Wall Street analysts tracking Coca-Cola, 11 recommend a buy, 13 recommend a hold, and one recommends a sell.

Coca-Cola stock is a good buy for investors seeking stable cash flows from their investments in the form of dividends. The stock has a long history of stable dividend payments and capital appreciation in the long run.

What is Coca-Cola’s dividend yield?

As of Oct. 30, Coca Cola’s dividend yield was 3.41 percent. Currently, the company pays an annual dividend of $1.64 per share.

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