Lakeridge Wealth Management LLC Has $436,000 Holdings in The Coca-Cola Company (NYSE:KO)

Lakeridge Wealth Management LLC raised its holdings in shares of The Coca-Cola Company (NYSE:KO) by 4.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,085 shares of the company’s stock after purchasing an additional 267 shares during the period. Lakeridge Wealth Management LLC’s holdings in Coca-Cola were worth $436,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Dover Advisors LLC boosted its stake in Coca-Cola by 536.7% during the 1st quarter. Dover Advisors LLC now owns 71,068 shares of the company’s stock worth $5,126,000 after acquiring an additional 59,906 shares during the last quarter. Everpar Advisors LLC boosted its stake in Coca-Cola by 19.1% during the 1st quarter. Everpar Advisors LLC now owns 19,810 shares of the company’s stock worth $1,419,000 after acquiring an additional 3,176 shares during the last quarter. Opal Wealth Advisors LLC boosted its stake in Coca-Cola by 8.4% during the 1st quarter. Opal Wealth Advisors LLC now owns 16,699 shares of the company’s stock worth $1,196,000 after acquiring an additional 1,301 shares during the last quarter. IAG Wealth Partners LLC boosted its stake in Coca-Cola by 194.7% during the 1st quarter. IAG Wealth Partners LLC now owns 3,572 shares of the company’s stock worth $256,000 after acquiring an additional 2,360 shares during the last quarter. Finally, Pathway Financial Advisors LLC boosted its stake in Coca-Cola by 5.8% during the 1st quarter. Pathway Financial Advisors LLC now owns 4,834 shares of the company’s stock worth $346,000 after acquiring an additional 264 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO John Murphy sold 88,658 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the completion of the transaction, the chief financial officer now directly owns 205,511 shares of the company’s stock, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Quincey sold 266,403 shares of the firm’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the completion of the transaction, the chief executive officer now directly owns 275,946 shares of the company’s stock, valued at $19,884,668.76. This represents a 49.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 415,387 shares of company stock worth $29,923,985 over the last ninety days. Insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

NYSE KO opened at $70.94 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a market capitalization of $305.36 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46. The firm’s 50 day moving average is $71.56 and its 200-day moving average is $67.84.

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

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.88%. Coca-Cola’s dividend payout ratio (DPR) is presently 81.60%.

Analysts Set New Price Targets

KO has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Barclays reissued an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. Piper Sandler lifted their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Royal Bank of Canada raised their target price on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Finally, Morgan Stanley restated an “overweight” rating and set a $81.00 target price on shares of Coca-Cola in a report on Monday, June 9th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $76.00.

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.