Rep. Lloyd Doggett Acquires Shares of The Coca-Cola Company (NYSE:KO)

Representative Lloyd Doggett (D-Texas) recently bought shares of The Coca-Cola Company (NYSE:KO). In a filing disclosed on January 08th, the Representative disclosed that they had bought between $1,001 and $15,000 in Coca-Cola stock on December 16th.

Representative Lloyd Doggett also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of PPG Industries (NYSE:PPG) on 12/12/2024.
• Purchased $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 12/12/2024.
• Purchased $1,001 – $15,000 in shares of Johnson & Johnson (NYSE:JNJ) on 12/10/2024.
• Purchased $1,001 – $15,000 in shares of International Business Machines (NYSE:IBM) on 12/10/2024.
• Purchased $1,001 – $15,000 in shares of Procter & Gamble (NYSE:PG) on 11/15/2024.

Coca-Cola Trading Up 1.5 %

Coca-Cola stock opened at $61.73 on Friday. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The stock has a market cap of $265.92 billion, a P/E ratio of 25.51, a P/E/G ratio of 3.83 and a beta of 0.61. The company’s fifty day simple moving average is $62.99 and its 200-day simple moving average is $66.48.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. The business’s quarterly revenue was down .8% compared to the same quarter last year. As a group, sell-side analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $0.485 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 3.14%. Coca-Cola’s payout ratio is 80.17%.

Hedge Funds Weigh In On Coca-Cola

Several large investors have recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC bought a new position in shares of Coca-Cola during the 2nd quarter worth about $68,000. Prudential PLC lifted its stake in Coca-Cola by 45.9% during the second quarter. Prudential PLC now owns 38,309 shares of the company’s stock worth $2,438,000 after purchasing an additional 12,051 shares during the period. LGT Fund Management Co Ltd. grew its stake in shares of Coca-Cola by 449.8% in the 2nd quarter. LGT Fund Management Co Ltd. now owns 207,157 shares of the company’s stock valued at $13,186,000 after purchasing an additional 169,477 shares during the period. Royal London Asset Management Ltd. raised its holdings in shares of Coca-Cola by 0.7% in the 2nd quarter. Royal London Asset Management Ltd. now owns 1,842,883 shares of the company’s stock worth $117,300,000 after buying an additional 13,681 shares in the last quarter. Finally, Andra AP fonden raised its holdings in shares of Coca-Cola by 33.9% in the 2nd quarter. Andra AP fonden now owns 411,600 shares of the company’s stock worth $26,198,000 after buying an additional 104,100 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on KO. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Barclays reduced their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Truist Financial increased their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Piper Sandler initiated coverage on Coca-Cola in a research report on Tuesday. They issued an “overweight” rating and a $74.00 price target for the company. Finally, TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Wednesday. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.60.

Insider Buying and Selling

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.97% of the stock is owned by corporate insiders.

About Representative Doggett

Lloyd Doggett (Democratic Party) is a member of the U.S. House, representing Texas’ 37th Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Doggett (Democratic Party) is running for re-election to the U.S. House to represent Texas’ 37th Congressional District. He declared candidacy for the Democratic primary scheduled on March 5, 2024. In the 116th Congress, Doggett served on the House Ways & Means Committee, and he co-founded the House Prescription Drug Taskforce. Doggett began his political career in the Texas State Senate, where he served from 1973 to 1985. He then served as a member of the Texas Supreme Court from 1989 until 1994. He represented Texas’ 25th Congressional District from 2005 to 2013 and Texas’ 10th Congressional District from 1995 to 2005. As of a 2014 analysis of multiple outside rankings, Doggett is an average Democratic member of Congress, meaning he will vote with the Democratic Party on the majority of bills. Lloyd Doggett was born in Austin, Texas. Doggett graduated from Austin High School in 1964. He earned a B.A. from the University of Texas at Austin in 1967 and a J.D. from the University of Texas in 1970. Doggett’s career experience includes working as an adjunct professor with the University of Texas School of Law.

About Coca-Cola

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.