Lynx Investment Advisory Makes New Investment in The Coca-Cola Company (NYSE:KO)

Lynx Investment Advisory bought a new stake in shares of The Coca-Cola Company (NYSE:KO) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 750 shares of the company’s stock, valued at approximately $48,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in KO. Tidemark LLC acquired a new position in Coca-Cola during the 4th quarter worth $26,000. Private Wealth Management Group LLC acquired a new position in shares of Coca-Cola during the 4th quarter worth about $27,000. Redmont Wealth Advisors LLC bought a new stake in Coca-Cola during the 1st quarter valued at approximately $28,000. ESL Trust Services LLC acquired a new stake in Coca-Cola in the 1st quarter valued at approximately $28,000. Finally, Criterion Capital Advisors LLC bought a new position in Coca-Cola in the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Price Performance

KO stock traded up $0.76 during trading on Wednesday, hitting $68.81. The company had a trading volume of 6,456,434 shares, compared to its average volume of 13,038,423. The company has a fifty day moving average price of $64.24 and a two-hundred day moving average price of $61.89. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $69.67. The company has a market cap of $296.43 billion, a P/E ratio of 27.58, a P/E/G ratio of 3.80 and a beta of 0.59. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. During the same period last year, the firm posted $0.78 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. Equities research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio is 77.60%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Henrique Braun sold 57,298 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $63.08, for a total value of $3,614,357.84. Following the completion of the transaction, the executive vice president now directly owns 52,466 shares of the company’s stock, valued at $3,309,555.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the sale, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Henrique Braun sold 57,298 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $63.08, for a total transaction of $3,614,357.84. Following the completion of the sale, the executive vice president now directly owns 52,466 shares in the company, valued at approximately $3,309,555.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 937,334 shares of company stock worth $575,874,057. Insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. BNP Paribas assumed coverage on Coca-Cola in a research report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective for the company. Bank of America raised their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Argus boosted their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Morgan Stanley increased their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Finally, Evercore ISI boosted their price target on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average target price of $70.20.

Coca-Cola 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.