Pinnacle Investment Management Ltd Takes $1.25 Million Position in The Coca-Cola Company (NYSE:KO)

Pinnacle Investment Management Ltd bought a new position in The Coca-Cola Company (NYSE:KO) in the 4th quarter, Holdings Channel.com reports. The firm bought 20,000 shares of the company’s stock, valued at approximately $1,245,000. Coca-Cola comprises approximately 0.9% of Pinnacle Investment Management Ltd’s holdings, making the stock its 13th biggest holding.

A number of other institutional investors have also added to or reduced their stakes in KO. Peachtree Investment Partners LLC increased its position in shares of Coca-Cola by 1.4% during the fourth quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company’s stock worth $697,000 after purchasing an additional 157 shares in the last quarter. Fort Sheridan Advisors LLC grew its stake in Coca-Cola by 3.3% during the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock worth $311,000 after buying an additional 161 shares during the last quarter. Excalibur Management Corp grew its stake in Coca-Cola by 0.6% during the 4th quarter. Excalibur Management Corp now owns 29,412 shares of the company’s stock worth $1,831,000 after buying an additional 161 shares during the last quarter. Wells Trecaso Financial Group LLC increased its position in Coca-Cola by 4.8% during the 4th quarter. Wells Trecaso Financial Group LLC now owns 3,616 shares of the company’s stock valued at $225,000 after buying an additional 164 shares in the last quarter. Finally, Tradition Wealth Management LLC raised its stake in Coca-Cola by 3.0% in the fourth quarter. Tradition Wealth Management LLC now owns 5,737 shares of the company’s stock valued at $357,000 after buying an additional 167 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Piper Sandler boosted their price target on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Evercore ISI boosted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Barclays restated an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. Royal Bank of Canada lifted their price objective on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company upped their target price on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola currently has an average rating of “Buy” and an average target price of $75.59.

Insider Activity

In related news, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the transaction, the executive vice president now directly owns 187,716 shares of the company’s stock, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. Insiders have sold a total of 462,407 shares of company stock worth $32,990,056 over the last 90 days. 0.90% of the stock is currently owned by company insiders.

Coca-Cola Price Performance

NYSE:KO opened at $71.69 on Wednesday. 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 52 week low of $60.62 and a 52 week high of $74.38. The stock’s 50-day moving average price is $70.96 and its 200-day moving average price is $66.86. The stock has a market capitalization of $308.57 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47.

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

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Friday, June 13th. Coca-Cola’s dividend payout ratio is presently 81.60%.

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.