Lynx Investment Advisory Makes New $48,000 Investment in The Coca-Cola Company (NYSE:KO)

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

A number of other hedge funds also recently made changes to their positions in KO. Patrick M Sweeney & Associates Inc. bought a new position in Coca-Cola during the fourth quarter worth about $410,000. Beacon Pointe Advisors LLC boosted its holdings in Coca-Cola by 24.7% in the 4th quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock worth $26,549,000 after buying an additional 89,139 shares during the period. Birchcreek Wealth Management LLC grew its stake in Coca-Cola by 12.6% in the 4th quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock valued at $267,000 after buying an additional 507 shares in the last quarter. Smart Money Group LLC raised its holdings in Coca-Cola by 21.6% during the 4th quarter. Smart Money Group LLC now owns 4,932 shares of the company’s stock valued at $291,000 after acquiring an additional 877 shares during the period. Finally, Hexagon Capital Partners LLC lifted its position in shares of Coca-Cola by 13.4% during the fourth quarter. Hexagon Capital Partners LLC now owns 12,621 shares of the company’s stock worth $744,000 after acquiring an additional 1,495 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. UBS Group boosted their price objective on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Morgan Stanley increased their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. JPMorgan Chase & Co. boosted their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Evercore ISI upped their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Finally, TD Cowen lifted their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $70.20.

Coca-Cola Stock Up 1.1 %

NYSE KO traded up $0.76 during trading hours on Wednesday, reaching $68.81. 6,456,434 shares of the company’s stock traded hands, compared to its average volume of 13,038,423. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $69.67. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The firm has a 50-day simple moving average of $64.24 and a 200 day simple moving average of $61.89. The firm has a market cap of $296.43 billion, a PE ratio of 27.58, a PEG ratio of 3.80 and a beta of 0.59.

Coca-Cola (NYSE:KO) last released its 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. The firm had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the business earned $0.78 earnings per share. Sell-side analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

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

Insider Transactions at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the sale, the insider now directly owns 218,880 shares in the company, valued at approximately $13,644,979.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nikolaos Koumettis sold 80,891 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the sale, the insider now owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 937,334 shares of company stock worth $575,874,057. Corporate 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.