Lloyd Advisory Services LLC. Buys New Position in The Coca-Cola Company (NYSE:KO)

Lloyd Advisory Services LLC. acquired a new position in The Coca-Cola Company (NYSE:KO) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,341 shares of the company’s stock, valued at approximately $239,000.

Other hedge funds have also modified their holdings of the company. Crowley Wealth Management Inc. bought a new position in shares of Coca-Cola in the 4th quarter worth $27,000. Mainstream Capital Management LLC bought a new position in shares of Coca-Cola in the 4th quarter worth $31,000. REAP Financial Group LLC boosted its position in shares of Coca-Cola by 57.5% in the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock worth $35,000 after purchasing an additional 208 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in Coca-Cola during the fourth quarter worth about $38,000. Finally, Hoey Investments Inc. grew its stake in Coca-Cola by 41.9% in the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after acquiring an additional 181 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KO. Morgan Stanley upped their target price on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Evercore ISI increased their price target on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. UBS Group lifted their price objective on Coca-Cola from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Cfra Research upgraded Coca-Cola to a “strong-buy” rating in a research note on Tuesday, April 15th. Finally, Piper Sandler boosted their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $75.81.

Coca-Cola Trading Up 0.6%

Shares of Coca-Cola stock opened at $71.37 on Friday. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The firm has a fifty day moving average price of $71.39 and a 200 day moving average price of $67.60. The Coca-Cola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The stock has a market cap of $307.20 billion, a PE ratio of 28.89, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The company had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.72 earnings per share. Equities research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s payout ratio is currently 81.60%.

Insider Buying and Selling

In other news, COO Henrique Braun sold 25,277 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the completion of the transaction, the chief operating officer now owns 52,466 shares in the company, valued at $3,749,745.02. This trade represents a 32.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Quincey sold 266,403 shares of Coca-Cola stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the sale, the chief executive officer now owns 275,946 shares of the company’s stock, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 440,664 shares of company stock valued at $31,730,532 in the last ninety days. Company insiders own 0.97% of the company’s stock.

Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.