Pinnacle Wealth Planning Services Inc. Has $1.45 Million Position in CocaCola Company (The) $KO

Pinnacle Wealth Planning Services Inc. grew its stake in CocaCola Company (The) (NYSE:KO) by 21.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,548 shares of the company’s stock after acquiring an additional 3,592 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in CocaCola were worth $1,454,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. 1248 Management LLC acquired a new position in CocaCola during the first quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd boosted its position in shares of CocaCola by 5,142.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock worth $26,000 after purchasing an additional 360 shares in the last quarter. Ridgewood Investments LLC grew its holdings in shares of CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company’s stock valued at $34,000 after buying an additional 285 shares during the period. MMA Asset Management LLC bought a new stake in shares of CocaCola in the 2nd quarter valued at $34,000. Finally, GFG Capital LLC acquired a new stake in CocaCola during the 2nd quarter worth $34,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CocaCola

In related news, COO Henrique Braun sold 40,390 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the sale, the chief operating officer owned 62,621 shares in the company, valued at approximately $4,441,707.53. This represents a 39.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Monica Howard Douglas sold 13,548 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly owned 37,725 shares of the company’s stock, valued at $2,638,109.25. This trade represents a 26.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 193,627 shares of company stock valued at $13,702,256. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on KO shares. Bank of America boosted their target price on CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Cowen reiterated a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. Wells Fargo & Company increased their target price on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. UBS Group dropped 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. Finally, TD Cowen upped their price target on shares of CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating and sixteen have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, CocaCola presently has a consensus rating of “Buy” and an average price target of $78.43.

CocaCola Trading Down 0.6%

NYSE KO opened at $70.70 on Tuesday. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. The stock’s 50 day moving average price is $68.07 and its two-hundred day moving average price is $69.46. The stock has a market capitalization of $304.12 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 3.57 and a beta of 0.43.

CocaCola (NYSE:KO) last issued its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. The company had revenue of $11.40 billion during the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. As a group, analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal 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 paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, December 1st. CocaCola’s payout ratio is presently 67.55%.

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.