The Coca-Cola Company (NYSE:KO) Shares Sold by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC lessened its stake in The Coca-Cola Company (NYSE:KO) by 0.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,129 shares of the company’s stock after selling 305 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Coca-Cola were worth $3,484,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Enterprise Bank & Trust Co lifted its position in Coca-Cola by 3.4% during the 4th quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock worth $296,000 after buying an additional 167 shares in the last quarter. Elk River Wealth Management LLC lifted its position in shares of Coca-Cola by 1.6% during the fourth quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock worth $639,000 after purchasing an additional 170 shares in the last quarter. KRS Capital Management LLC grew its stake in shares of Coca-Cola by 3.8% during the fourth quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock valued at $274,000 after purchasing an additional 170 shares during the last quarter. Wayfinding Financial LLC increased its holdings in shares of Coca-Cola by 1.8% in the fourth quarter. Wayfinding Financial LLC now owns 9,734 shares of the company’s stock valued at $573,000 after purchasing an additional 175 shares in the last quarter. Finally, John G Ullman & Associates Inc. raised its position in Coca-Cola by 2.2% in the 4th quarter. John G Ullman & Associates Inc. now owns 8,081 shares of the company’s stock worth $476,000 after purchasing an additional 175 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Coca-Cola

In related news, EVP Beatriz R. Perez sold 57,298 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the sale, the executive vice president now owns 167,107 shares in the company, valued at $10,358,962.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Beatriz R. Perez sold 57,298 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the sale, the executive vice president now owns 167,107 shares of the company’s stock, valued at $10,358,962.93. The disclosure for this sale can be found here. In the last three months, insiders have sold 380,405 shares of company stock worth $23,209,645. Insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

KO has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Citigroup lifted their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. UBS Group increased their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Evercore ISI increased their target price on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Finally, Barclays upped their price target on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $68.27.

Coca-Cola Stock Up 0.3 %

Shares of Coca-Cola stock traded up $0.21 on Thursday, hitting $63.06. The company had a trading volume of 4,183,135 shares, compared to its average volume of 13,768,559. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.25. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.86. The stock has a 50-day moving average of $60.32 and a 200-day moving average of $59.30. The firm has a market capitalization of $271.66 billion, a P/E ratio of 25.19, a P/E/G ratio of 3.53 and a beta of 0.57.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. The firm had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.68 EPS. Research analysts predict that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s payout ratio is 77.60%.

Coca-Cola 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.