Coca-Cola (NYSE:KO) Shares Acquired Rep. Lloyd Doggett

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 Stock Up 1.5 %

Shares of NYSE:KO opened at $61.73 on Friday. The firm 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 Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The business has a fifty day simple moving average of $62.99 and a 200 day simple moving average of $66.48. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter last year, the business earned $0.74 EPS. The company’s revenue was down .8% compared to the same quarter last year. Analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $0.485 per share. The ex-dividend date was Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.14%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP bought a new stake in shares of Coca-Cola in the 2nd quarter valued at about $27,000. Hara Capital LLC purchased a new position in Coca-Cola in the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola in the third quarter valued at approximately $36,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Coca-Cola during the third quarter valued at approximately $43,000. Finally, ORG Wealth Partners LLC bought a new position in shares of Coca-Cola in the third quarter worth approximately $58,000. 70.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Piper Sandler assumed coverage on Coca-Cola in a research report on Tuesday. They issued an “overweight” rating and a $74.00 target price for the company. Wells Fargo & Company cut their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday. Barclays decreased their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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 stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.97% of the stock is owned by 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.