PNC Financial Services Group Inc. Sells 36,879 Shares of CocaCola Company (The) $KO

PNC Financial Services Group Inc. lowered its stake in shares of CocaCola Company (The) (NYSE:KO) by 0.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,830,280 shares of the company’s stock after selling 36,879 shares during the period. PNC Financial Services Group Inc. owned approximately 0.14% of CocaCola worth $412,492,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Perigon Wealth Management LLC raised its stake in shares of CocaCola by 3.6% during the 2nd quarter. Perigon Wealth Management LLC now owns 130,164 shares of the company’s stock worth $9,209,000 after purchasing an additional 4,469 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in CocaCola by 6.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock worth $2,212,300,000 after purchasing an additional 1,794,561 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of CocaCola in the second quarter valued at $22,443,000. Roundview Capital LLC lifted its stake in shares of CocaCola by 9.1% during the 2nd quarter. Roundview Capital LLC now owns 34,965 shares of the company’s stock worth $2,474,000 after buying an additional 2,923 shares during the last quarter. Finally, Banque Pictet & Cie SA grew its stake in CocaCola by 72.6% in the 2nd quarter. Banque Pictet & Cie SA now owns 204,392 shares of the company’s stock valued at $14,461,000 after buying an additional 85,950 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

CocaCola Stock Up 1.5%

Shares of NYSE KO opened at $71.59 on Wednesday. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. The firm has a market cap of $307.97 billion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 3.57 and a beta of 0.43. The company has a 50 day simple moving average of $67.84 and a 200 day simple moving average of $69.49.

CocaCola (NYSE:KO) last announced its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%.The business had revenue of $11.40 billion during the quarter. On average, research analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Monday, December 1st. CocaCola’s dividend payout ratio (DPR) is presently 67.55%.

Insider Transactions at CocaCola

In other news, EVP Monica Howard Douglas sold 13,548 shares of CocaCola stock in a transaction on Friday, October 24th. The shares were sold at an average price of $69.93, for a total value of $947,411.64. Following the completion of the sale, the executive vice president owned 37,725 shares in the company, valued at $2,638,109.25. The trade was a 26.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Max R. Levchin acquired 7,206 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were bought at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the acquisition, the director directly owned 14,267 shares of the company’s stock, valued at approximately $996,835.29. This trade represents a 102.05% increase in their position. The SEC filing for this purchase provides additional information. 0.97% of the stock is owned by insiders.

Analysts Set New Price Targets

KO has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their target price on CocaCola from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. UBS Group lowered their target price on shares of CocaCola from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, September 11th. TD Cowen increased their price target on CocaCola from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. BNP Paribas reiterated an “outperform” rating and set a $83.00 target price on shares of CocaCola in a research report on Monday, July 21st. Finally, Royal Bank Of Canada set a $76.00 price objective on shares of CocaCola and gave the stock an “outperform” rating in a research report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating and sixteen have issued a Buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $78.43.

CocaCola 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.